Genifi inc. announced that it has licensed its tunl.chat platform (the "Platform") to an arm's length third party (the "Licensor"). Under the terms of the agreement, signed November 21, 2023, genifi will be entitled to receive 100% of the net plaftorm revenues received from certain pre-existing potential customers who use the Platform, 50% of net platform revenues from pre-existing pipeline opportunities and 75% of net platform revenues for all other customers using the Platform. The Company will control all terms and pricing for customers using the Platform.

The Licensor will be responsible for providing customers with consulting and support and will be entitled to receive all fees arising from such activities. The Licensor will also be responsible for all costs associated with the sales, delivery, implementation and operation of the Platform for all customers. The licensing agreement, which is effective November 1, 2023, has an initial term of five years and may be renewed for additional five year terms.