(Alliance News) - Pozzi Milano Spa on Thursday let it know that through its subsidiary Pozzi Brand Diffusion Srl, of the Pozzi and Castello Pozzi brands, which are the subject of a licensing strategy, it has approved the signing of an addendum to the commercial distribution contract between the company and related party Mercati Srl, signed on Jan. 1, 2022.

The contract, which has a two-year term and expires on December 31, 2023, will be tacitly renewed for a period of an additional 12 months from January 1, 2024 until December 31, 2024 for the estimated maximum total amount of EUR1 million, plus VAT.

The addendum provides for the modification of the territory in which Pozzi Milano will perform, on an exclusive basis, the promotion and distribution of the products, stipulating that the same will consist of all countries excluding Italy, France, Belgium, China, Hong Kong and Korea.

Pozzi Milano trades at parity at EUR0.81 per share.

By Claudia Cavaliere, Alliance News reporter

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