|
|
Article: Snap N' Sold Announces Completion of Operator Licensing Agreement for the State of Illinois.
- Article from:
- Business Wire
- Article date:
- January 10, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
PALM HARBOR, Fla. -- Snap N' Sold Corp. (Pink Sheets:SNPD) announced today that it has finalized its agreement with 1i Limited of Chicago, IL pursuant to a previously announced Letter of Intent, granting that company exclusive license to operate all Snap N' Sold related businesses throughout the entire state of Illinois. While Snap N' Sold has received the initial cash payment of $60,000.00 USD from 1i Limited, total consideration for the agreement consists of an up-front payment to Snap N' Sold of $300,000.00, an ongoing annual license of $100,000.00 and an additional payment to Snap N' Sold on a percentage of annual income generated by those operations.
With ...