Dec 4 (Reuters) - IOT Group Ltd IOT.AX :
* ENTERED INTO CONTRACT TO BUY IP RIGHTS TO DESIGN, DEVELOPMENT OF INTERNET OF THINGS POOL CHEMISTRY ANALYZER IN AUSTRALIA, NEW ZEALAND
* SUBJECT TO SHAREHOLDER APPROVAL, IOT WILL ISSUE 50 MILLION SHARES TO PURCHASE ANALYZER IP
* IOT EXPECTS TO SELL ANALYZER ONLINE AND THROUGH SPECIALIST RETAILERS AND POOL WHOLESALERS
* IOT ALSO EXPECTS TO RECEIVE A PERCENTAGE OF POOL SERVICE AND SUPPLIES REVENUES FROM LOCAL POOL SERVICE PROVIDERS
* TO ALSO ISSUE 50 MILLION PERFORMANCE RIGHTS THAT VEST ON ACHIEVEMENT OF AUD$2 MLM IN REVENUE IN PERIOD ENDING 31 DEC 2020
* "EXPECTS ACQUISITION WILL DELIVER SIGNIFICANT REVENUES TO COMPANY IN ITS CORE BUSINESS AREA"