Sigma Additive Solutions (SASI) has released an update to notify the public and investors about an entry into a material definitive agreement.
Sigma Additive Solutions, Inc. and its subsidiary NextTrip Holdings, Inc. entered into a perpetual license agreement with Promethean TV, Inc., granting NextTrip irrevocable, worldwide rights to use and commercially exploit the licensed software in the travel industry. In exchange, Sigma Additive issued Promethean 100,000 restricted shares and NextTrip waived Promethean’s past debts. The agreement includes rights for Sigma Additive to repurchase shares, voting covenants by Promethean, and a one-year right of first refusal for NextTrip to purchase Promethean. The terms also encompass customary representations, warranties, covenants, and indemnification provisions.
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For a comprehensive understanding of the announcement, you can read the full document here.
