Item 1.01 Entry into a Material Definitive Agreement.
On June 24, 2022 Golden Ally Lifetech Group, Inc. ("Golden Ally"), a subsidiary
of Signet International Holdings, Inc., entered into a Bottling Agreement (the
"Agreement") with Azure Water Bottling of Florida, LLC ("Azure") pursuant to
which Azure will produce, bottle, label and ship Golden Ally's AQP active water
products. The Agreement is for an initial one-year term, subject to potential
renewal at the election of Golden Ally. Azure is an integrated OEM bottler that
supplies many beverage products on the market.
The Agreement sets the prices and terms by which Azure will produce, bottle,
label and ship products for Golden Ally, and also sets the parameters for the
product order and size requirements, and other matters such as quality control
and production process control. Under the Agreement Golden Ally will make
available and license to Azure certain technology and rights in order for Azure
to produce and package the products and Golden Alley will remain the owner of
any such technology and rights.
In addition, the Agreement provides that Azure will produce, package and label
the products pursuant to forecasts and purchase orders issued by Golden Alley,
and according to the specifications provided to Azure by Golden Ally. The
Agreement includes various other terms and conditions that are customary for an
agreement of this nature, including provisions related to delivery of the
products and risk of loss, product inspection rights, insurance covenants of
each party, representations and warranties of the parties that are customary for
an agreement of this nature, and compliance obligations of each party.
The foregoing summary of the Agreement does not purport to be complete and is
qualified in its entirety by reference to the full text of the Agreement, which
will be filed with the Securities and Exchange Commission (the "SEC") as an
exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended
June 30, 2022 or via an amendment to this Current Report on Form 8-K. Pursuant
to Item 601(b)(10) of Regulation S-K, certain terms of the Agreement have been
omitted from this Current Report on Form 8-K, and will be omitted from the
version of the Agreement to be filed with the SEC, because such terms are (i)
not material and (ii) private and confidential to the parties.
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