Tribe Technology PLC announced that it has entered into a joint development agreement with Veracio Australia Pty Ltd. Under the terms of the Agreement, Tribe Tech and Veracio will jointly develop a new and novel system for blast hole chip sampling, incorporating Tribe Tech's proprietary intellectual property ("IP") and Veracio's proprietary IP. The outcome of this Agreement will expand the offerings of both parties, including the development of further IP during the joint development, which will be owned in equal shares by Tribe Tech and Veracio. While Tribe Tech is confident on the future prospects of the Agreement for the Group, the board of directors of Tribe Tech expects any resultant revenues or earnings contribution to the Group in the next 12 months to be inconsequential.