08:43 AM EST - Hello Pal International Inc. : Announced that it has signed a Cooperation Agreement with Little Pal Asia Limited where the Company will be licensed, on a non-exclusive worldwide basis, to freely use LPA's innovative "Infinity Language" language learning system throughout the Company's product and service offerings, and in particular, in its Language Pal app. Under the Cooperation Agreement, LPA will adapt the learning system in the adult market for Hello Pal's Language Pal. Accordingly, Hello Pal will enjoy exclusive use of the learning system in the adult language learning market, and will continue to enjoy new features and functionalities which are added to the learning system by LPA over time. As part of the terms of the agreement, the Company has taken a 15% equity interest in LPA for an investment amount of CAD 300,000 , which will be mainly used for the further development of the Infinity Language learning system and adaptation for use in Language Pal. Other than this initial investment, Hello Pal will not be required to pay any other amounts to LPA for the use of the Infinity Language learning system. Hello Pal International Inc.
shares C.HP are trading unchanged at $0.65.
