FREQ Enters Into Licensing & Development Agreement with... Frequency Exchange's Subsidiary Enters Into Licensing and Development Agreement with Warehouse
VANCOUVER, BC / ACCESSWIRE / July 18, 2022 / Frequency Exchange Corp. (the "Company") (TSXV:FREQ) is pleased to announce that its wholly-owned subsidiary, FREmedica Technologies Inc. ("FREmedica"), has entered into a licensing and development agreement (the "Exclusive License Agreement") with Frequency Warehouse Inc. ("Warehouse"), pursuant to which FREmedica acquired an exclusive, royalty-bearing, non-transferable license from Warehouse to build a membership subscription program (including finished products, modules, and components) which delivers frequency packages through a wearable frequency emitter, allowing subscribers to access a variety of wellness and performance frequencies to enhance body function.
FREmedica founder Stephen Davis notes "This is a great and perfectly-timed opportunity for our company. We plan to launch the "NIKKI" wearable wellness and performance enhancement device in the fall of 2022. While other devices track, the NIKKI frequency emitter works to optimizewearer wellness, making it an ideal companion for other wearables and the millions of people using them. NIKKI puts a round-the-clock wellness centre in your hands and on your wrist."
The following product is a sampling on what NIKKI has to offer to it's Members.
The Exclusive License Agreement includes a licensed membership program, with twelve frequency packages. In consideration for the granted licenses, FREmedica will pay Warehouse (i) a one-time, non-refundable, license fee in the amount of CAD $150,000; and (ii) a royalty equal to 10% of all annual collected gross sales FREmedica earns based on the membership program, the licensed technology, and the sale of any frequency emitter devices or services made, used, sold, or offered for sale in connection with the Exclusive License Agreement. FREmedica may request to negotiate into additional Statement of Works in relation to the existing technology, the frequency packages, and/or research and development of technology conducted under terms agreed upon by both parties.
The Exclusive License Agreement is subject to acceptance by the TSX Venture Exchange (the "Exchange").
About the Company
The Company is a British Columbia-based company focused on the development and commercialization of a frequency emitter that delivers a special package of frequencies designed for the health and wellness market, specifically to target Lyme disease along with a variety of other wellness issues within North America. The NIKKI is the fifth generation frequency emitter released by the Company. It is the third wearable technology designed by the Company, specifically to deliver frequencies to help clients with chronic Lyme disease. The technology combined with the frequencies is the result of years of development and experimentation with the latest in bio-energetic technology.
For more information, please contact:
Frequency Exchange Corp.
Stephen Davis
CEO & Director
250-732-7170
Cautionary Note Regarding Forward-Looking Information
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the trading date of the Company's common shares on the Exchange. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available under the Company's profile on SEDAR at www.sedar.com.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Frequency Exchange Corp.