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VVT Med Signs Exclusive Distribution Deal in Greece Worth About C$1.14 Million

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VVT Med (VVTM.V) signed an exclusive distribution agreement for the commercialization of its "VVT's ScleroSafe" platform in Greece with General Chemical Products S.A. (GCP) for an initial five-year term, it said in a statement on Friday.

The agreement contains minimum purchase commitments with a contractual value of about 712,800 euros (about C$1.14 million based on current exchange rates) over the initial term, exclusive of any purchases beyond the contractual minimum commitments, it said. The distribution agreement may be cancelled prior to the expiry of the initial term under customary conditions.

Shares of the company closed down 13% to C$0.20 on Thursday on the TSX Venture Exchange.

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