Technology-sharing Term sheet with R.J. Reynolds Tobacco Company

Source from:  British American Tobacco 09/23/2015

British American Tobacco further announces today that it has signed a vapour products technology-sharing term sheet with R.J. Reynolds Tobacco Company (RJRTC), a subsidiary of Reynolds American Inc. (RAI).　The term sheet provides a framework for collaboration and mutual cross-licensing of the parties' vapour product technologies up to 31 December 2022.

The collaboration also includes joint R&D activities and cooperation on regulatory, scientific and manufacturing issues relating to vapour products.

Following further negotiations, both companies are expecting to conclude and sign a legally binding, definitive agreement by year-end 2015.

Wheaton concludes: "Today, we've announced two significant milestones to enhance our next generation product business globally, further enabling us to meet the demands of today's consumer." Enditem