IC Group Enters Commercial Relationship With Bullet Messaging
IC Group Holdings (ICGH.V) entered a strategic commercial relationship with Bullet Messaging, supported by a definitive software-as-a-services agreement and a strategic funding arrangement, it said in a statement after markets closed on Thursday.The company will be able to access Bullet's communications technology, software services and related platform capabilities in its mobile communications business, pursuant to the SaaS agreement signed on Oct. 1, 2025, it said. The five-year SaaS agreement provides the company with exclusive Canadian licensing rights for Bullet's technology and is structured around a recurring subscription-based model.IC Group has committed up to C$500,000 as part of this relationship, through a convertible note facility signed July 1, to be advanced to Bullet over a 12-month period starting July 1. The funding is intended to support the continued development of Bullet's messaging platform, it said.The company may elect to convert the principal amount into equity of Bullet representing 15% of its issued and outstanding shares at the time of conversion. The outstanding principal amount will start bearing interest at a rate of 12% per annum and will be repayable over the following two years through 24 monthly payments if the convertible note is not converted by IC Group on or before Dec. 31, 2027, the company added.
