Frequency Exchange Corp. announced that its wholly-owned subsidiary, FREmedica Technologies Inc., has entered into a licensing and development agreement with Frequency Warehouse Inc., pursuant to which FREmedica acquired an exclusive, royalty-bearing, non-transferable license from Warehouse to build a membership subscription program (including finished products, modules, and components) which delivers frequency packages through a wearable frequency emitter, allowing subscribers to access a variety of wellness and performance frequencies to enhance body function. The Exclusive License Agreement includes a licensed membership program, with twelve frequency packages.

In consideration for the granted licenses, FREmedica will pay Warehouse (i) a one-time, non-refundable, license fee in the amount of CAD $150,000; and (ii) a royalty equal to 10% of all annual collected gross sales FREmedica earns based on the membership program, the licensed technology, and the sale of any frequency emitter devices or services made, used, sold, or offered for sale in connection with the Exclusive License Agreement. FREmedica may request to negotiate into additional Statement of Works in relation to the existing technology, the frequency packages, and/or research and development of technology conducted under terms agreed upon by both parties.