Business
Metavista Announces Termination of Distribution Agreement and Settlement Payment
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2026) - Metavista3D Inc. (TSXV: DDD) ...
About this update from Metavista3d, Inc.
[{"type":"text","content":"Metavista Announces Termination of Distribution Agreement and Settlement PaymentVancouver, British Columbia--(Newsfile Corp. - January 23, 2026) - Metavista3D Inc. (TSXV: DDD) (FSE: E3T) (\"Metavista3D\" or the \"Company\") announces that the Company's wholly owned subsidiary, psHolix AG (\"PsHolix\"), entered into a mutual termination agreement with Mysticum Limited (the \"Consultant\") to terminate a strategic distribution agreement (the \"Distribution Agreement\") previously entered into among PsHolix and the Consultant on October 4, 2024. The terminated agreement had previously granted the Consultant exclusive distribution rights for the Company's products in certain territories. In connection with the termination of the Distribution Agreement and the relinquishment of the Consultant's exclusive distribution rights, the Company made a settlement payment of $4,966,511 (US$3,500,000).Under the Distribution Agreement, the Consultant was entitled to purchase products at PsHolix's production cost plus a fixed 10% margin for resale within its exclusive territory. In consideration for the granting of the exclusive distribution rights, the Consultant agreed to provide interim financial support to PsHolix in respect of the proposed acquisition of PsHolix by the Company and subsequent listing on the TSXV (the \"PsHolix Acquisition\"), including strategic investment in the private placement of common shares of PsHolix completed concurrently with the PsHolix Acquisition (the \"Concurrent Financing\"). Following the signing of the Distribution Agreement, the Consultant: (i) participated in the Concurrent financing, closed on October 24, 2024, (ii) subscribed to a non-brokered private placement of the Company for a total of 1,436,781 common shares at a price of $1.74 per Common Share for gross proceeds of $2,500,000 (see press release of February 27, 2025), and (iii) entered into a loan agreement with the Company (the \"Loan Agreement\"), pursuant to which the Company may borrow up to a maximum aggregate principal amount of $12,500,000 from the Consultant until August 31, 2027 (see press release dated September 15, 2025).The exclusivity provisions in the Distribution Agreement restricted the Company's ability to contract directly with certain customers in those exclusive territories and would have constrained the Company's flexibility to ...