Intrinsyc Technologies and Stream TV Networks to Continue Strategic Partnership

Intrinsyc Technologies Corp. (TSE:ITC) and Stream TV Networks Inc. have announced that they will continue their strategic relationship.
According to the press release:

The arrangements provide for an amendment to a previously signed supply agreement that extends the purchase commitment by Stream TV from USD$3.0 million to USD$4.5 million, with products, services, or royalties to be purchased or to be generated on or before March 31, 2016. Stream TV has met the previous obligation of USD$3.0 million in order commitments. In addition, the secured convertible promissory note has been amended to remove the conversion feature and to extend the maturity date from December 31, 2015 to June 30, 2016.
“I am pleased to extend our strategic and close collaboration with Stream TV,” said Tracy Rees, CEO of Intrinsyc Technologies Corporation. “Intrinsyc has worked very closely with Stream TV and witnessed firsthand the strong interest and overwhelming positive reception that their Ultra-D{A ™} Glasses-Free technology receives when demonstrated to global brand manufacturers; both for digital signage applications as well as with high-volume consumer brands. We are excited to extend our strategic relationship as Stream TV moves into the next phase of commercial production and broader market adoption.”

Click here to read the full press release.