Asep Medical Holdings Inc. (Asep Inc.) is delighted to announce the recent signing of a Letter of Intent (LOI) for a joint venture between Asep Inc. and Seaspring W.L.L (Seaspring). The joint venture will be owned 50/50 between Asep Inc. and Seaspring pursuant to a definitive agreement. As per the terms of the LOI that was signed by both parties on December 11, 2022 in Bahrain, Seaspring will contribute the capital required by the joint venture to conduct its business operations while Asep Inc. will provide the licensing rights for use of the technology in the Kingdom of Bahrain and the Middle East and North Africa (MENA) region.
