Canuc officials said January 17 that the deal has been structured for it to be a strategic partner to the IoT company; it will have the exclusive ability to both sell and promote spectrum network Industrial IoT applications in the Canadian provinces of Alberta and Saskatchewan as well as the American state of Texas.
Financially speaking, Canuc will receive a 20% gross revenue share from all sales from Ioticiti under the agreement. Ioticiti, then, will be responsible for providing the equipment, labour and warranty for all sales.
Canuc said it is in the discussion phase with the companies, which have operations in western Canada, and expects to bring those new clients to its partner during the March quarter.
In addition to its IoT endeavour, Canuc holds the San Javier silver-gold project in the Sonora state of Mexico. It also holds interest in producing gas wells and field developments at the MidTex Energy project in central west Texas.