EP Global Communications Inc fka EPGL

[Valiant]

Here you go...Yesterday's PR

IRVINE, Calif., Jan. 7, 2016 /PRNewswire/ -- EP Global Communications, Inc. (Public OTC: EPGL)

EP Global Communications, Inc. (EPGL) executed a Settlement Agreement with CooperVision Inc. (CooperVision) on December 31, 2015.

CooperVision is one of the world's leading manufacturers of soft contact lenses. EP Global Communications, Inc. is a new, high technology research and design company which specializes is microelectronic mechanical systems and IoT connectivity for such technologies.

In 2014, the two Companies worked together to jointly develop advanced contact lens technology concepts. On December 31, 2015 the parties executed a Settlement Agreement setting forth the parties' respective rights in the jointly filed patent applications and allowing each party to separately and independently pursue these contact lens concepts. The settlement also addresses the ongoing prosecution of several related joint patent applications.

CooperVision is to pay EPGL an undisclosed cash component and will retain certain rights to use the technologies disclosed in the jointly filed patent applications to develop and commercialize contact lenses and relinquish all rights to other patent applications filed by EPGL. In exchange, EPGL gains sole ownership and control of the jointly filed patent applications and unlimited worldwide marketing right to license the technologies disclosed in the jointly filed patent applications to all other manufacturers and partners worldwide. EPGL will earn 100% of all future revenues from such potential deals going forward.

"We are happy and believe the Agreement strikes a good balance for EPGL and its contribution. The technologies will now have an unlimited number of potential licensees worldwide, so that the most people are benefited. With this Agreement, EPGL has gone from seeing its technologies under a single company's umbrella to now a potential unlimited number. That is very exciting for EPGL's future," said Michael Hayes, President of EPGL.

About EP Global Communications, Inc.
EP Global Communications, Inc. is an advanced technology research and development company for both medical devices and consumer electronics devices specializing in microelectronic mechanical systems (MEMS).

Original Development Agreement
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=125904

1. CooperVision has secured the exclusive right to co-develop EPGL advanced technologies of its choosing, with ownership of resulting intellectual property to be allocated in accordance with inventorships. EPGL has agreed to work exclusively with CooperVision in the ophthalmic and medical field to develop selected advanced technologies, granting CooperVision exclusive options to license or outright purchase EPGL’s rights to such technologies. Under the Agreement, CooperVision will fund the co-development, prototyping, manufacturing and marketing of such technologies selected by CooperVision and negotiated project by project. This Development Agreement is on-going.