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BRIEF-IOT Group To Buy IP Rights To Design & Develop Internet Of Things Pool Chemistry Analyzer

Published 04/12/2018, 08:54 am
Updated 04/12/2018, 09:00 am
© Reuters.  BRIEF-IOT Group To Buy IP Rights To Design & Develop Internet Of Things Pool Chemistry Analyzer

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"

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