MBF Group
On October 4, 2023, we received back signed two contracts concluded with ModaModa Co. Ltd, based in Seoul, South Korea. The South Korean company is engaged in the production of innovative cosmetics. In connection with plans to expand into the European market, after discussions and negotiations, the Issuer was selected to act as an importer and build a sales network for ModaModa products in Poland and Europe.
ModaModa’s products take advantage of the antioxidant properties of polyphenols, which brown in fruit, to naturally color hair when shampooed. Inventing the world’s first natural bronzing shampoo formula using polyphenols, ModaModa is a leader in the hair darkening shampoo market in South Korea.
The first of the signed agreements is the Framework Agreement on Cooperation, Confidentiality and Non-Disclosure of Information. Under its provisions, the parties defined the business relationship and the parameters of future legal obligations, and established confidentiality rules as to key sources and contacts. The agreement assumes long-term cooperation between the parties and defines a framework for operation, where the common goal will be for the Issuer to build a distribution network for ModaModa products and import them. The contract was concluded for an indefinite period. The other terms of the Agreement do not deviate from the commonly used standards.
The second document is a memorandum of understanding (“Memorandum of Understanding”), the purpose of which is to define the roles and responsibilities of each party in connection with the construction of a distribution network and the Issuer’s role as an importer of ModaModa products. Neither party may assign or transfer the MOU and the obligations and rights granted hereunder to a third party without the prior written consent of the other party. The MOU constitutes the entire agreement between the Parties and supersedes any prior oral or written understandings or agreements regarding the matters described herein.
On October 4, 2023, we received back signed two contracts concluded with ModaModa Co. Ltd, based in Seoul, South Korea. The South Korean company is involved in the production of innovative cosmetics. In connection with expansion plans to the European market, after discussions and negotiations, the Issuer was selected to act as an importer and build a sales network for ModaModa products in Poland and Europe.
Modamoda products take advantage of the antioxidant properties of polyphenols, which brown in fruit to naturally color the hair during shampooing. By inventing the world’s first natural bronzing shampoo formula using polyphenols, ModaModa is the market leader in hair darkening shampoos in South Korea.
The first agreement signed is the Framework Agreement on Cooperation, Confidentiality and Non-Disclosure of Information. Under its provisions, the parties have defined the business relationship and the parameters of future legal obligations, and confidentiality rules have been established as to key sources and contacts. The agreement assumes long-term cooperation between the parties and defines the framework principles of operation, where the common goal will be the construction by the Issuer of a distribution network of ModaModa products and their imports. The agreement was concluded for an indefinite period of time. Other conditions of the Agreement do not deviate from the commonly used standards.
The second document is a Memorandum of Understanding (“MOU”), the purpose of which is to define the roles and responsibilities of each party in relation to the construction of a distribution network and the task of the Issuer as an importer of ModaModa products. Neither Party may assign or transfer the MOU and the obligations and rights granted hereunder to a third party without the prior written consent of the other Party. The MOU constitutes the entire agreement between the Parties and supersedes any prior oral or written understandings or agreements regarding the matters described herein.
