Ambient Water Corp (OTCBB:AWGI) announces entering into a multi-million dollar licensing agreement with Pacific AirWell. Under the terms of the agreement, Pacific AirWell will get the exclusive rights to sell, use and market the atmospheric water generation systems of Ambient Water in the future.
As per the reports, the agreement will earn Pacific AirWell the rights to use, sell and market Ambient Water’s technology within California State, subject to royalty and sales requirements.
What Else The Licensing Agreement Holds:
Under the terms of this agreement, Pacific AirWell will need to purchase a minimum of $1 million worth of technologies from Ambient Water to sell in California during the initial year. On all the units sold, Ambient Water will be entitled to receive 20% royalty. As soon as the agreement enters in the second year, Pacific AirWell will have to purchase a license from Ambient Water worth $2 million. However, the company will then be entitled to receive a royalty of 25% on all the units that Pacific AirWell will sell.
After the completion of the second year, Pacific AirWell will not need to pay any additional fees or charges as long as it meets minimum sales targets as per the agreement.
The senior management of Ambient Water is excited to sign this agreement and hopes that it will bring excellent results in the coming days. According to Keith White, CEO & Founder, Ambient Water Corp (OTCBB:AWGI), it’s great to have signed this agreement. With the help of it, Pacific AirWell will get the rights to sell atmospheric water generation products of Ambient Water in California State.
The agreement will not only help the company generate regular cash flow, but also enhance the reach of its products across the state. There can never be a better place to start the proceedings than California. Once things return to normal in CF, the company will start targeting other states as well.