Audeara Ltd. announced the execution of a Cooperative Agreement (Agreement) with Clinico Inc. The Agreement forms the basis of intention for both parties to enter into a formal binding agreement. Under the Agreement and any subsequent formal binding agreement, Audeara will develop a series of healthy hearing earbuds. In Taiwan and China, Audeara will be exclusively distributed through Clinico.

The exclusivity also means Clinico will place Audeara branded products as a priority to sell and promote through Clinico's distribution channels. The development of the Audeara branded products in conjunction with Clinico and its team is expected to be completed within the next 18 months. There are no termination provisions or revenues specified within the Cooperative Agreement but if and when the parties enter into a formal binding agreement, the Company will make a further announcement containing the material terms and conditions at that time.

The Agreement continues the expansion of Audeara's product offering into the audiology industry. Any products developed as an outcome of the cooperation will enter the market with a clear path to market.