Brief: AND CBI Have Entered Into Non-Exclusive Licensing Agreement

Atari SA

07/06/2021 07:14

June 7 (Reuters) - Atari SA  ATAR.PA :
    * NEW STAGE IN THE STRATEGIC DEVELOPMENT OF ATARI’S
BLOCKCHAIN
DIVISION
    * ATARI SA AND CBI HAVE ENTERED INTO A NON-EXCLUSIVE
LICENSING
AGREEMENT WITH AN INITIAL TERM OF 3 YEARS, RENEWABLE FOR 2
SUBSEQUENT TERMS OF 2 YEARS, WITH A ROYALTY RATE OF 50% OF NET
REVENUE GENERATED BY LICENSED PRODUCTS
    * ALSO HAS AN OPTION TO PURCHASE 5% OF FULLY DILUTED EQUITY
OF CBI
AT NOMINAL VALUE, ONCE CBI HAS RECEIVED FINANCING OF AT LEAST $1
MILLION FROM THIRD-PARTIES
    * IN ORDER TO AVOID ANY CONFLICTS OF INTERESTS, FRÉDÉRIC
CHESNAIS
IS RESIGNING FROM BOARD OF DIRECTORS OF ATARI SA

Source text for Eikon:  ID:nGNE2vzhsH 
Further company coverage:  ATAR.PA 

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