Dec 4 (Reuters) - IOT Group Ltd (IOT) : ENTERED INTO CONTRACT...

Dec 4 (Reuters) - IOT Group Ltd (IOT) :

• ENTERED INTO CONTRACT TO BUY IP RIGHTS TO DESIGN, DEVELOPMENT OF INTERNET OF THINGS POOL CHEMISTRY ANALYZER IN AUSTRALIA, NEW ZEALAND
• SUBJECT TO SHAREHOLDER APPROVAL, IOT WILL ISSUE 50 MILLION SHARES TO PURCHASE ANALYZER IP
• IOT EXPECTS TO SELL ANALYZER ONLINE AND THROUGH SPECIALIST RETAILERS AND POOL WHOLESALERS
• IOT ALSO EXPECTS TO RECEIVE A PERCENTAGE OF POOL SERVICE AND SUPPLIES REVENUES FROM LOCAL POOL SERVICE PROVIDERS
• TO ALSO ISSUE 50 MILLION PERFORMANCE RIGHTS THAT VEST ON ACHIEVEMENT OF AUD$2 MLM IN REVENUE IN PERIOD ENDING 31 DEC 2020
• "EXPECTS ACQUISITION WILL DELIVER SIGNIFICANT REVENUES TO COMPANY IN ITS CORE BUSINESS AREA"

Source text (http//reut.rs/2QbFTlt)

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