Jul. 19 at 5:31 PM
$FNTTF XR Immersive Technologies Enters into
Agreement to License the SVR Brand & Platform
for
$4,500,000
Highlights of the Licensing Agreement:
● Immersive Tech grants Deploy Reality the rights to use the SVR website, manage, service,
bill and operate all the SVR clients as Deploy Reality for a period of five (5) years from
July 1, 2024 for
$4,500,000 and the ability to purchase a license to the SVR brand within
this time frame from Immersive Tech.
● The value of the initial purchase payment is
$805,571.60, and Deploy Reality agrees to
directly or indirectly invest
$102,147 every month into SVR for research and development
expenditures beginning July 01, 2024.
● Immersive Tech agrees that once Deploy Reality has paid a total amount of
$4,500,000,
full ownership to license SVR brand will be transferred to Deploy Reality
● This Agreement will be reviewed on July 1st each year to ensure both Parties are upholding their responsibilities
