Times Three Wireless Inc (
TSX:V.TTW,
Stock Forum) has signed a letter of intent to purchase two LCD and LED patents from the Rockstar Consortium.
The deal will send $1.1m in V.TTW shares to Rockstar, as well as a percentage share of net licensing, in return for the former Nortel (
OTO:NRTLQ,
Stock Forum) patents. An undisclosed cash payment to Rockstar completes the deal.
Times Three Wireless is looking to apply the patents to the US television market, said CEO William Middleton in a
press release.
Times Three Wireless was formerly known as Cell-Loc Inc., and is what it calls a ‘technology innovation and licensing company’ out of Calgary, which now holds 26 patents issued and pending.