Gen2 Technologies and Snipitz Sign MoU

Rhea-AI Summary

Gen2 Technologies Inc. (OTC: MNIZ) announced a Memorandum of Understanding (MoU) with Snipitz, focusing on a white-label agreement to utilize Snipitz's advanced user interface for the Iris Media Network.

The agreement also explores potential licensing for Gen2's intellectual property and future investment opportunities. Both CEOs expressed optimism about enhancing user experience and commercializing their technologies, emphasizing collaboration to save resources in market strategies.

Positive

• Signing a MoU with Snipitz for a white-label agreement enhances product offering.
• Collaboration aims to leverage Snipitz's UI for improved user experience.
• Potential licensing agreement for Gen2's IP could generate additional revenue.

Negative

• None.

HENDERSON, Nev., March 15, 2021 /PRNewswire/ -- Gen2 Technologies Inc. (the "Company") (OTC: MNIZ) is pleased to announce that following an extended period of negotiations it has signed a MoU with Snipitz - an advanced social media platform employing a robust user interface (UI) designed to offer unique viewing capabilities especially on mobile handsets.

The MoU covers the following areas and will be subject to further due diligence and specific time requirements:

* To execute a white-label agreement allowing Gen2 Technologies to utilize Snipitz's UI as a front-end to the Iris Media Network.

* To execute a potential licensing agreement for Snipitz to use Gen2's IP, in particular, radial and camera technology.

* To look at future opportunities which may include investment and a right of first offer for purchase.

Mr. Denny Darmo, CEO of Snipitz stated:  "I am looking forward to working with Gen2 - a company whose main focus and technology complements ours. I, along with the Snipitz team, will continue to focus on our solutions that provide a very unique and interactive user experience. Ultimately, we are aiming to be one of social media's leading platforms, which are also in line with the goals of Gen2 Technologies."

Mr. Michael Kovacocy, CEO of Gen2 Technologies added: "We have been impressed with the UI and even more importantly the focus on user experience delivered by the Snipitz team. We eagerly look to layer a robust UI onto our Iris Media Network - saving time and money in our go-to-market strategy without sacrificing quality. This MoU also represents a step forward in our efforts to commercialize our IP - especially in non-camera technology where we believe we can license to partners and offer improvements in lag and other key performance metrics."

For further queries, please feel free to email the Company at: michael.kovacocy@gen2technologies.com

Gen2 Technologies Inc. (OTC PINK: MNIZ), The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are intended to be covered by the safe harbor provisions of the federal securities laws. Forward-looking statements often contain words such as "will," "anticipate," "believe," "plan," "estimate," "expect," "intend," "is targeting," "may," "should," ''poised,'' and other similar words or expressions. Forward-looking statements are made based upon management's current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those described in any of our other filings with the SEC. In addition, such statements could be affected by risks and uncertainties related to: (i) commercialization of our newly-acquired helmet camera, (ii) continuing development and protection of our intellectual property, (iii) unexpected industry competition, (iv) the need to raise capital to meet business requirements, and (v) our ability to sell our products in order to generate revenues. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Any future public statements or disclosures modifying any of the forward-looking statements contained in or accompanying this news release, will be deemed to supersede such statements in this news release. Information on Gen2 Technologies Inc.'s website, http://www.brkgen2.com does not constitute a part of this release.

Contact:
michael.kovacocy@gen2technologies.com
brkgen2.com
(440) 597-6150

 

 

 

View original content:http://www.prnewswire.com/news-releases/gen2-technologies-and-snipitz-sign-mou-301247453.html

SOURCE Gen2 Technologies Inc.

FAQ

What does the MoU between Gen2 Technologies and Snipitz entail?

The MoU involves a white-label agreement for utilizing Snipitz's user interface for Gen2's Iris Media Network and potential licensing of Gen2's intellectual property.

How might the agreement with Snipitz affect Gen2 Technologies' stock (MNIZ)?

The collaboration aims to enhance product offerings and could positively impact market strategy, potentially benefiting MNIZ's stock performance.

Who are the CEOs involved in the Gen2 Technologies and Snipitz agreement?

The CEOs are Michael Kovacocy for Gen2 Technologies and Denny Darmo for Snipitz.

What technology does Gen2 Technologies focus on in its partnership with Snipitz?

Gen2 Technologies focuses on its intellectual property, specifically radial and camera technology, in its partnership with Snipitz.

When was the Gen2 Technologies and Snipitz MoU signed?

The MoU was signed on March 15, 2021.