Re Agreement

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[{"type":"text","content":"\n \nGenesis Worldwide Inc. Enters Into Strategic Multi-Million Dollar Licensing\nAgreement\n\n Company Achieves Major Milestone with Licensing Agreement for Three\n Plants in Russia\n\n MISSISSAUGA, ON, Jan. 21 /CNW/ - Genesis Worldwide Inc. (\"Genesis\" or the\n\"Company\"), (TSX/AIM: GWI), an industry leader in \"green\" structural building\ntechnologies using light steel, is pleased to announce that it has entered\ninto the largest licensing deal in the Company's history, significantly\nenhancing the Company's presence in Europe.\n Genesis recently entered into a License and Services Agreement (the\n\"Agreement\") with Greenford Trading Limited (\"Greenford\"), a newly formed\nBritish Virgin Islands subsidiary of ArianaInterProject, a Russian\ninternational investment and development company. The Agreement calls for the\nbuilding of three light steel panel manufacturing plants in Russia over the\nnext two and a half years. The factories will produce light steel paneled\nstructures using the Genesis Solution, which includes leading-edge software,\nindustrial equipment, hardware, processes and engineering services.\n Under the terms of the Agreement, Genesis will earn initial revenue of\nUS$4.0 million from licensing the Genesis technology, the sale of industrial\nequipment and hardware, and various training and consulting services required\nfor the commissioning of the first plant. The Company will earn similar\nrevenue from the commissioning of each of the two additional plants, which are\nprojected to be commissioned by July 1, 2009 and July 1, 2010, respectively,\nwith the revenue recognized at such time. Genesis will also earn a minimum of\nUS$4.1 million in royalty fees over the next five years.\n Greenford will be the exclusive provider of Genesis building systems in\nthe Central Federal District within the Russian Federation, and will maintain\nexclusivity as long as annual minimum gross sales targets are achieved. This\nAgreement is for a five-year period and will automatically renew for an\nadditional five years.\n This transaction is the result of months of intensive discussion and\nnegotiation, during which Genesis developed an in-depth understanding of the\nnumerous opportunities in the Russian market.\n Genesis President and CEO, Vince Mifsud, noted the significance of this\nAgreement. \"We fully recognize the ma...

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