Vancouver, British Columbia and Casablanca, Morocco--(Newsfile Corp. - July 2, 2026) - Izotropic Corporation (CSE: IZO) (OTCQB: IZOZF) (FSE: 1R3) ("Izotropic", or the "Company"), a medical device company commercializing IzoView, a dedicated breast CT imaging system for the more accurate screening and diagnosis of breast cancers, announces that, further to its April 29, 2026 announcement, it has executed the Formal Agreement (the "Formal Agreement") with Izotropic Africa ("IZAF"), together with the Distribution Agreement and Shareholders' Agreement, establishing the definitive commercial, operational, and governance framework for the commercialization of IzoView throughout Africa and the Gulf Cooperation Council ("GCC") (collectively, the "Territory").
The Formal Agreement finalizes the ownership of Izotropic Africa, with 51% owned by IZAF shareholders and 49% owned by Izotropic and appoints IZAF as Izotropic's exclusive distributor and commercialization partner throughout the Territory. The increased ownership interest held by Izotropic reflects the significant strategic opportunities developing throughout Morocco and the Territory and the Company's expanded commitments to the long-term development, commercialization, and growth of IZAF.
The Formal Agreement has an initial five (5) year term and provides for an initial five (5) year period of distribution exclusivity commencing upon the first commercial installation within the Territory. Distribution exclusivity is maintained throughout the initial exclusivity period by the continued achievement of the established minimum performance requirements. The Formal Agreement will automatically renew for successive one (1) year terms, provided IZAF continues to satisfy the established performance requirements and remains in compliance with the Formal Agreement, while positioning IZAF to become eligible for exclusive commercialization and distribution rights in additional territories and for future products and technologies that may become available under the Formal Agreement.
Under the terms of the Formal Agreement, IZAF will be responsible for sales, marketing, customer development, government and Ministry of Health engagement, regulatory support, installation, technical support, service, maintenance, and ongoing customer operations. The Agreement initially covers the commercialization of IzoView together with associated software, accessories, replacement components, related services, and future products and technologies. Izotropic Corporation retains responsibility for manufacturing, product development, engineering, scientific, technical and clinical support, regulatory oversight, software management, quality systems, and lifecycle management, while continuing to retain ownership and control of its intellectual property, regulatory assets, software, trademarks, future technologies, product improvements, and other proprietary rights associated with the IzoView platform.
The Shareholders' Agreement establishes the ownership and governance arrangements applicable to IZAF. Certain provisions have been intentionally reserved for future determination and will be completed by an amendment following the conclusion of certain material developments currently underway that are expected to influence those provisions. The parties do not expect this to impact the ongoing governance or business activities of IZAF.
With the Formal Agreement now in place, IZAF will proceed with the expansion of regulatory submissions across key jurisdictions in the Territory, deployment of initial clinical and demonstration systems, acceleration of hospital onboarding and pilot site activation, formalization of government and institutional partnerships, advancement of manufacturing and regional assembly feasibility studies, and scaling of commercial pipelines across priority markets.
Mr. Mohammed Sair, General Manager, IZAF Comments:
"We are proud to reach this strategic milestone with Izotropic Corporation. This Formal Agreement constitutes a solid foundation for the development of Izotropic's activities in Morocco, Africa, and the Gulf Cooperation Council countries.
In Morocco, where we are currently hosting Izotropic management, we are actively pursuing the necessary regulatory procedures to prepare for the introduction of Izotropic's technologies to the market. In this context, we have initiated the process of preparing a research dossier in collaboration with the AMMPS in Morocco. In parallel, we have engaged leading healthcare institutions for future clinical evaluations, while strengthening relationships with major hospital groups across Africa and the GCC.
We are also advancing discussions with industrial partners, strategic investors, and funding institutions regarding the establishment of a high-technology manufacturing facility in Morocco. This initiative is aligned with a long-term vision to position Morocco as a regional hub for production, distribution, and technical support for Izotropic's advanced breast imaging solutions.
We are confident that this collaboration will improve access to next-generation medical technologies and strengthen healthcare capacity across the region."
About Izotropic:
More information about Izotropic Corporation can be found on its corporate website at izocorp.com and by reviewing its profile on SEDAR at sedarplus.ca.
Forward-Looking Statements:
This document may contain statements that are "Forward-Looking Statements," which are based upon the current estimates, assumptions, projections, and expectations of the Company's management, business, and its knowledge of the relevant market and economic environment in which it operates. The Company has tried, where possible, to identify such information and statements by using words such as "anticipate," "believe," "envision," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "contemplate" and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words.
These statements are not guarantees of performance and involve risks, including those related to capital requirements and uncertainties that are difficult to control or predict, and as such, they may cause future results of the Company's activity to differ significantly from the content and implications of such statements. Forward-Looking Statements are pertinent only as of the date on which they are made, and the Company undertakes no obligation to update or revise any Forward-Looking Statements to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law. Neither the Company nor its shareholders, officers, and consultants shall be liable for any action and the results of any action taken by any person based on the information contained herein, including, without limitation, the purchase or sale of Company securities. Nothing in this document should be deemed to be medical or other advice of any kind. All images are for illustrative purposes only. IzoView has not yet been approved or cleared for sale.
Contacts:
Robert Thast, Interim Chief Executive Officer
Telephone: 1-604-220-5031 or 1-833-IZOCORP ext. 1
Email: bthast@izocorp.com
General and Corporate Inquiries
Telephone: 1-604-825-4778 or 1-833-IZOCORP ext. 3
Email: info@izocorp.com
Izotropic Africa
Email: IZAF@izocorp.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303637
Source: Izotropic Corporation
