RC365 Holding PLC LOI with YouneeqAI for IP Rights (2008J)
14 Août 2023 - 8:00AM
UK Regulatory
TIDMRCGH
RNS Number : 2008J
RC365 Holding PLC
14 August 2023
14 August 2023
RC365 Holding Plc
("RC365" or the "Company")
Letter of Intent signed with YouneeqAI Technical Services Inc
for IP Rights
RC365 Holding Plc ("RC365"), a company focusing on payment
gateway solutions and IT support, is pleased to announce that it
has signed a non-binding Letter of Intent ("LOI") with YouneeqAI
Technical Services Inc ("YouneeqAI"), a US company with an
AI-driven cookieless personalisation platform that empowers online
businesses to deliver personalised digital experiences and increase
engagement and revenue. The LOI sets out the terms, subject to
technical and legal due diligence, on which the Company will
acquire the exclusive rights to YoouneeqAI's IP and Platform in the
UK, with a right of first refusal to purchase additional
territories.
Highlights
- YouneeqAI will provide the exclusive rights to its platform in
the UK and a right of first refusal to purchase additional
territories;
- YouneeqAI will provide marketing materials, training and
upkeep of the maintenance activities for the platform;
- The consideration payable will be satisfied by the issue of
6,000,000 new ordinary shares in RC365, of which 3,000,000 new
ordinary shares are to be issued on the signing of the acquisition
agreement, with the remaining 3,000,000 new ordinary shares being
issued on or around 29 February 2024;
- YouneeqAI will be entitled to receive cash consideration equal
to 1% of revenues (excluding VAT) generated from the use of the
platform by RC365;
- The Agreement, which is expected to be signed by the end of
October 2023, shall be for a term of 10 years.
The Company has been increasing the scope of its Fintech
services. As previously announced on 13 March 2023, it signed a
White- Label Application Development Agreement with WCHING
Technology Limited for the development of a mobile application
product for use on Web, iOS and Android platforms. In addition, on
1 June 20023, it announced a memorandum of understanding agreement
with Hatcher Group for AI development. This LOI, is a natural
extension of this expansion of services. Younseeq, has more than a
decade of experience in providing AI and Big Data Analytics support
to different business and the Board believes this experience will
help the Company enter the Blockchain and Web3.0 space over
time.
Chi Kit Law (Michael), Executive Director and Chief Executive
Officer, said:
"We are delighted to be pursing an agreement with YouneeqAI. We
look forward to working towards progressing a final agreement to
support the growth objectives of RC365."
About YouneeqAI
YouneeqAI is a SaaS platform that empowers digital businesses
with valuable critical data to enhance business performance,
through cookieless visitor identification software and turning
unknown traffic into known potential customers.
The cookieless AI personalization platform is designed to be
highly extensible and scalable allowing it to easily integrate into
a wide range of websites and online applications, and it can handle
increasing amounts of data and traffic as the platform grows.
YouneeqAI's solution is designed to be compliant with the latest
industry standards and regulations, such as GDPR and CCPA, which
ensures that user data is protected and used responsibly.
A further announcement will be made on signing of the
agreement.
For further information please contact:
RC365 Holding plc
Chi Kit LAW, Chief Executive Officer
T: +852 2251 1621
E: ir@rc365plc.com
Guild Financial Advisory Limited
- Financial Adviser
R oss Andrews T: +44 (0)7973 839767
Evangeline Klaassen E: ross.andrews@guildfin.co.uk
T: +44 (0)7972 841276
E: evangeline.klaassen@guild.co.uk
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END
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