Roadpost, Inc.: Roadpost Inc. Prevails in Arbitration Against Beam Communications Pty Ltd.

TORONTO, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Roadpost Inc. is pleased to announce that the arbitrator in its case against Beam Communications Pty Ltd. has rendered a decision in its favour, finding Beam in material breach of the 50/50 ZOLEO Inc. joint venture agreement between the two companies.The arbitration decision is final and binding, compelling Beam to sell its joint venture share in ZOLEO Inc. to Roadpost at fair market value. Should the parties be unable to agree on fair market value, it will be determined by an independent professional valuator. The purchase price will be paid 25% at closing with the balance due in three equal annual payments.Roadpost is confident that ZOLEO device supply will continue without interruption during this process. The joint venture agreement and related documents clearly define the mechanisms, including price, through which all necessary IP for manufacturing and operations will be acquired by ZOLEO Inc. pursuant ...Full story available on Benzinga.com