NDAQ:KAVL - Post Discussion
Post by
AveragePenny on Jun 21, 2022 12:19pm
Kaival Brands Reports Fiscal 2022 Second Quarter Financial
Corporate Updates Subsequent to the Fiscal Second Quarter 2022 - The Company's recently formed, wholly owned subsidiary, Kaival Brands International, LLC ("KBI"), entered into an international licensing agreement with Philip Morris Products S.A. ("PMPSA"), a wholly owned affiliate of Philip Morris International Inc. ("PMI") (NYSE: PM), for the development and distribution of electronic nicotine delivery system ("ENDS") products in markets outside of the U.S., subject to market (or regulatory) assessment.
- The PMI License Agreement grants to PMPSA a license of certain intellectual property rights relating to Bidi's ENDS device, known as the BIDI® Stick in the U.S., as well as potentially newly developed devices, to permit PMPSA to manufacture, promote, sell, and distribute such ENDS device and newly developed devices, in international markets, outside of the U.S.
- PMI's international distribution network will potentially create substantial new "capital-light" revenue stream.
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