GREY:TSTIF - Post by User
Comment by
SunnyShadowon Sep 21, 2019 2:26pm
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Post# 30151658
RE:RE:RE:RE:Vote
RE:RE:RE:RE:VoteAs I understand it, RR pulled out the deal from 3M, not the other way around.
The material change report filed by TSO3 on SEDAR on Aug 6, 2012 reads as follows:
5. Full Description of Material Change TSO3 announces the termination of the agreement with its channel partner for the exclusive supply, distribution, license and service of the STERIZONE 125L+ Sterilizer. The agreement dated December 2009, as amended in May 2011, provided either party with the right to terminate the agreement in the event that the US regulatory clearance had not been obtained within 24 months of the original filing date. TSO3 decided to exercise this right and provided a letter of termination to its channel partner on June 15, 2012. Post termination, both parties have been in face-to-face meetings and have had discussions in order to reach a new agreement. As of today, the parties have not been able to reach agreeable terms and have put an end to their negotiations. TSO3 has also had non-exclusive discussions in parallel to seek the desired partnership with another party.