Preventia, Inc. Announces License Agreement with Private Trading Systems PLC
Preventia, Inc. (OTCBB: PVTA) announces a License Agreement with Private Trading Systems PLC (“PTS UK”) granting Preventia, Inc. a worldwide and exclusive license. Preventia can use, sub-license, enforce, and otherwise exploit, PTS UK‘s proprietary trading system designed to facilitate the trading of instruments, investments, securities and assets between buyers and sellers in a trading environment (the “System”) and all intellectual property incorporated therein and related thereto (collectively, the “System IP”), which includes, but is not limited to, United States Patent No. 8,165,952 for “Electronic Trading System” (the “U.S. Patent”) and all improvements thereof and thereupon.
Under the terms of the License, Preventia has agreed to:
1. Throughout the Term, and provided a reasonable rate and other terms can be agreed upon, Private Trading Systems Corp. (a wholly-owned subsidiary of the Licensor) has the capability to contract, manage, and otherwise operate the System for sub-licensees and other users thereof;
2. Pay to the Licensor fifty percent (50%) of gross revenues earned and received by Preventia in connection with the use, sub-licensing, enforcement and/or other exploitation of the System and/or the System IP (less amounts paid by the registrant to legal counsel and other third parties with respect to litigation or other enforcement proceedings as such litigation and/or enforcement proceedings pertain to the enforcement of the System IP), subject to a minimum annual fee of $2,000,000 (payable quarterly).
The term of the License is five (5) years and Preventia has an option to renew for two (2) additional five (5) year terms.
Empowered with the License and the strength of the U.S. Patent, Preventia intends to:
1. Develop, market and distribute a number of financial products for dematerialization and electronic trading and grant sub-licenses and otherwise enter into agreements for use of the System and the proprietary electronic trading platform (likely to be operated by PTS UK’s Panamanian subsidiary, Private Trading Systems Corp.);
2. License the System to those companies that desire to run their own electronic trading operations; and
3. Take such other steps as are necessary to ensure that PTS UK’s proprietary System and System IP are properly and adequately protected and otherwise enforced.
Preventia’s CEO, Robert Stevens, states: “I’m delighted about the license from PTS and the opportunity to use and license their system. Given the nature and direction of trading in today’s marketplace, I believe our exclusive license with PTS is a landmark step forward in the globalization of financial products. One that has opened the door for Preventia to develop, market and facilitate a broad, new range of financial products for dematerialization and electronic trading worldwide.”
As for the U.S. Patent, the lynchpin of the System and Preventia’s service and licensing plans, Mr. Stevens notes: “Protecting and enforcing the patent is extremely important. The patent allows the facilitation of our financial products and their trading through a real-time clearing platform – a platform which is the first of its kind in today’s market. We intend to exploit and enforce the patent vigorously. There’s more to come on both fronts, but I’ll hold off on sharing those details until I can provide more specifics.”
About Preventia, Inc.
Preventia, Inc., a company incorporated pursuant to the laws of the State of Nevada and headquartered in Toronto, Ontario, Canada, works with corporate clients to develop, market and distribute financial products for dematerialization and electronic trading and operates an electronic trading platform with respect to the foregoing. To learn more, visit www.preventiatrading.com or email Preventia at email@example.com
About Private Trading Systems PLC
Private Trading Systems develops turnkey exchanges for all types of assets to which an individual identifying number can be assigned or created. The intention of the Company is to offer an "exchange environment access" through a unique design of exchange services and proprietary integration of functions that is not currently available anywhere in the world. The Company is based in London and has representative offices in Geneva and New York.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.