ideaForge Technology Terminates US Joint Venture with First Breach Inc.

ideaForge Technology Inc., a wholly-owned subsidiary of ideaForge Technology Limited, has entered into a termination agreement with First Breach Inc. to end their joint venture (JV) agreement. The JV, initially formed to license, source, design, manufacture, and distribute UAVs in the USA, was terminated because the closing conditions were not met by the Long Stop Date and due to mutual discussions between the parties. As a result, the proposed JV was not implemented, and no shares were issued or capital contributed. Both parties have released each other from all claims, and non-compete/non-solicit obligations have ceased.