Opyl Limited signed a MoU with the Xco Consortium

Opyl Limited (ASX: OPL) announced signing a Memorandum of Understanding with the Xco consortium in the US and UK, led by Whit Pepper and supported by his Xjensa business partner Greg Bailey and their team. This memorandum aims to form a joint venture for the exclusive marketing, distribution, and sale of Opyl’s products and services of TrialKey in Europe, the Middle East, Africa, and North America. The agreement includes an initial three-month due diligence period to agree on all terms and conditions of the JV, seeking to establish a JV entity to market and sell Opyl’s products exclusively in Europe, the Middle East, Africa, and North America.

After successful due diligence, Opyl will receive a cash payment of USD 1 million for license rights and R&D. The JV entity will seek a capital raise to secure between USD 3 million and USD 5 million within nine months of establishment. Opyl will hold a 20% equity stake in the JV entity. For the initial USD 1.25 million of revenue, 80% will be allocated to the JV entity and 20% to Opyl. All revenues exceeding this amount will be divided, with 60% going to the JV entity and 40% to Opyl.

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