-- VVT Med (VVTM.V) entered into its "largest" European distribution agreement to date, a strategic exclusive distribution partnership with Uber Ros S.p.A. for the commercialization of its ScleroSafe system in Italy, Vatican City and the Republic of San Marino, it said Monday.
The five-year agreement represents about $2.3 million in potential revenue to the company, based on agreed minimum purchase commitments, with a portion structured under a pay-or-buy mechanism that provides a defined level of commercial commitment from the distributor, subject to terms, it said.
Uber Ros also joined the company's previously announced non-brokered private placement financing as an investor.
The company's shares last traded Apr. 23, closing at $0.25 on the TSX Venture Exchange.