Dotz Nano Limited has entered into first service management agreement with Carmi Biotech Ltd. Carmi Biotech has issued Dotz its first purchase order for €700,000 (approx. AUD 1.08 million). The service management agreement and purchase order are the first deliverables of the collaboration agreement with Theracell Labs, a subsidiary of Orgenesis Inc., entered into and previously announced on 12 April 2022.

The Company expects to receive additional Purchase Orders in the coming weeks. Dotz will conduct work for the initial purchase order in two phases. First, it will set the technical requirements and then design, plan, integrate and implement its tagging solution in the Orgenesis mobile processing units and labs (OMPULs).

For phase 2 Dotz will then perform gap analysis and provide documentation regarding good manufacturing process requirements and compliance for the adaptation of the tracking process in OMPUL settings. Dotz expects the two phases of work will be conducted over the next four months, with payments from Carmi Biotech of €400,000 (approx. AUD 620,000) in first quarter fiscal year 23 on the completion of phase 1, and the balance of €300,000 (approx.

AUD 460,000) to be paid at the conclusion of the project in early Second Quarter fiscal year 23.