March 23 (Reuters) - BuildingIQ Inc BIQ.AX :
* ENTERS INTO LETTER OF STRATEGIC INTENT WITH SNAPS HOLDINGS
* SNAPS HOLDINGS TO INVEST A TOTAL OF A$5.9M IN BUILDINGIQ IN A COMBINATION OF PROMISSORY NOTES AND A PRIVATE PLACEMENT
* PARTIES ALSO INTEND TO ENTER STRATEGIC COLLABORATION DEAL, COMBINING SNAPS INTERNET OF THINGS (IOT) SOLUTIONS WITH CO'S 5I TECHNOLOGY STACK
* AGREEMENT WITH MCLOUD TECHNOLOGIES TERMINATED