Item 1.01 Entry into a Material Definitive Agreement
LOGIQ, INC. : Entry Into A Material Definitive Agreement, Regulation FD Disclosure, Financial Statements And Exhibits (form 8-K)
On November 8, 2022, Logiq, Inc., a Delaware corporation (the “Company”), and
BattleBridge Acquisition Co., LLC, a wholly owned subsidiary of the Company
(“Battlebridge”), entered into a Managed Services Agreement (the “MSA”) with a
significant new client (the “Client”), pursuant to which Battlebridge will
provide certain affiliate management, website development, lead generation,
email management, and search engine optimization services (collectively, the
“Services”) to Client through the Company’s platform. The MSA will terminate on
October 31, 2023, provided that the term may be extended beyond such date by
mutual written agreement of the parties. Notwithstanding the foregoing, Client
may terminate the MSA at any time after January 1, 2023, without cost or any
penalty, in the event that it is dissatisfied with the Services provided
thereunder.
LOGIQ, INC. : Entry Into A Material Definitive Agreement, Regulation FD Disclosure, Financial Statements And Exhibits (form 8-K)
In connection with the MSA, on November 8, 2022, the Company and Client also
entered into an Independent Contractor Agreement (the “IC Agreement,” and
together with the MSA, the “Agreements”), pursuant to which Client will provide,
on a non-exclusive basis, certain business development strategies and execution
and consulting services regarding e-commerce, digital marketing, and online
advertising, including lead generation, affiliate marketing and brand
development to the Company. The term of the IC Agreement coincides with the term
of the MSA.
LOGIQ, INC. : Entry Into A Material Definitive Agreement, Regulation FD Disclosure, Financial Statements And Exhibits (form 8-K)
As compensation for the services to be provided by Client to the Company under
the IC Agreement, the Company agreed to issue Client 1,750,000 restricted shares
of its common stock (the “Initial Shares”) upon execution of the Agreements. In
the event that the proposed acquisition of a wholly owned subsidiary of the
Company by Abri SPAC I, Inc., which proposed acquisition was…
LOGIQ, INC. : Entry Into A Material Definitive Agreement, Regulation FD Disclosure, Financial Statements And Exhibits (form 8-K)
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LOGIQ, INC. : Entry Into A Material Definitive Agreement, Regulation FD Disclosure, Financial Statements And Exhibits (form 8-K)