Advent-AWI Holdings Inc. (V:AWI)
Business Focus: Communications & Networking (NEC)
Jun 17, 2020 11:23 am ET
DynoSense Corp Announces Commercial Agreement With Advent-AWI Holdings Inc.
San Jose, California--(Newsfile Corp. - June 17, 2020) - DynoSense Corp. announced today it that entered into a commercial agreement with Advent Holdings Inc., a Canadian-based company listed on TSX Venture Exchange, pursuant to which Advent, through a wholly owned Hong Kong subsidiary, will sell and distribute DynoSense's products and services in Hong Kong and Macau under a license granted to it by DynoSense. Under the terms of the commercial agreement, Advent will pay $1 million CAD to DynoSense on or before June 30, 2020, half of which constitutes the advance payment for inventory of certain products. The initial term of the commercial agreement will be five years and may be renewed for an additional five one-year terms thereafter, subject to certain revenue targets being met at the time of each renewal. The commercial agreement is subject to acceptance by the TSX Venture Exchange.
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