StockMarketWire.com - Intellectual property investor Tekcapital welcomed news that portfolio company Lucyd had signed an exclusive purchase and distribution agreement with Marca Eyewear subsidiary 8 Points.

The pact was signed by Lucyd's US operating company Innovative Eyewear. Marca Eyewear was a Canadian distributor providing high-end spectacles for optical stores and eye-care professionals.

Tekcapital said the agreement set out a minimum purchase requirement of $4.6m worth of Lucyd e-glasses over 30 months, to maintain retail distribution exclusivity in Canada.

Monthly minimum committed purchases increased incrementally over the term of the agreement.

In the event that 8 Points did not meet the minimum monthly purchase requirements, Lucyd may convert 8 Points's exclusive rights to non-exclusive rights for the remainder of the term or terminate the agreement.


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