Jeffs’ Brands Enters Into a LOI for Exclusive Distribution of its Pest Control Solutions in the Gulf States, Including the United Arab Emirates
Tel Aviv, Israel, July 02, 2024 (GLOBE NEWSWIRE) — Jeffs’ Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq:JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, announced today that its wholly-owned subsidiary Fort Product Ltd. (“Fort”) entered into a non-binding Letter of Intent (“LOI”) with a company based in the Sultanate of Oman (the “Partner”).This LOI will serve as a base to negotiate entering into a commercial agreement with the Partner, pursuant to which Fort will, among other things, grant the Partner an exclusive license to market, resell and distribute Fort’s pest control products in the Gulf States, including the United Arab Emirates (“UAE”), at the exception of on any Amazon marketplace in the world, whether within or outside the Gulf States, and other customary exemptions to be included in the definitive agreements and conditioned upon the Partner meeting a minimum requirement as defined therewithin.