Visium Technologies Executes Non-Binding Term Sheet for Assignment of Specified Device Rights into a Newly Formed Indonesian Vehicle

Visium Technologies executed a non-binding term sheet to assign specified contract-use, offtake, and deployment rights into a newly formed Indonesian PMA company that would be 99 percent owned by a wholly owned Delaware subsidiary. The transaction is explicitly not an acquisition of an existing company, and no cash is payable at closing unless the Board separately authorizes it; consideration is expected to be non-voting convertible preferred stock issued in a private placement.

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