Nightingale Intelligent Systems Inc. announced an exclusive multi- year distribution agreement for Australia and New Zealand with Arvensys Group (Arvensys). Nightingale's drones are equipped with advanced AI technology and can detect and respond to potential security threats in real-time. The drones are designed to provide enterprise and public sector clients with cutting-edge security solutions that enable them to better protect their assets and respond to security incidents.

Under the distribution agreement, Arvensys will become the exclusive distributor of Nightingale's artificially intelligent security drones in Australia and New Zealand for an initial term of 5 years. The agreement includes an obligation on Arvensys to make an upfront payment to Nightingale of AUD 1.10 million for seven complete product systems (hardware, back-ups, maintenance and deployment services). For the remainder of the term there is a minimum annual purchase obligation on Arvensys for another seven complete product systems (with a yearly aggregate value of AUD 1.10 million) each year.

Importantly, Nightingale will generate additional recurring revenue from each system deployed at customer locations in the form of continuing maintenance, repair, and upgrade services. The agreement otherwise contains terms and conditions customary for contracts of this nature.