TeleCanor Global Limited Receives $375,000 Purchase Order from PrimeZen Innovations Inc.
TeleCanor Global Ltd. announced it has received a purchase order from PrimeZen Innovations Inc., a U.S.-based company, for customized software. The order encompasses a centralized crypto exchange with custodial wallet services, along with the provision to create and manage 10 upgradeable cryptocurrencies on the Solana blockchain.The contract, valued at $375,000 equivalent to approximately Rs. 3.56 crore, is expected to be executed within six months from the signing date.
According to details released, PrimeZen Innovations Inc. awarded the contract, which involves the development of centralized crypto exchange and related software. TeleCanor Global confirmed that neither the order nor the entity awarding it involve any related party transactions.
Order Details
| Sr. No. | Particulars | Description |
|---|---|---|
| 1 | Name of the entity awarding the order(s)/contract(s) | PrimeZen Innovations Inc |
| 2 | Significant terms and conditions of order(s)/contract(s) awarded in brief | Comprehensive order for customized software for Centralized crypto exchange with custodial wallet services, along with a provision to make and maintain 10 upgradeable crypto currencies, on Solana from PrineZen. |
| 3 | Whether order(s)/contract(s) have been awarded by domestic / international entity | International Entity |
| 4 | Nature of order(s)/contract(s) | Centralized Crypto Exchange and related software |
| 5 | Whether domestic or international; | International |
| 6 | Time period by which the order(s)/contract(s) is to be executed; | 6 months from the date of signing |
| 7 | Broad consideration or size of the order(s)/contract(s); | $ 375,000 equivalent to Rs.3.56 Cr (Approx.) |
| 8 | Whether the promoter/ promoter group / group companies have any interest in the entity that awarded the order(s) /contract(s)? If yes, nature of interest and details thereof; | No |
| 9 | Whether the order(s)/contract(s) would fall within related party transactions? If yes, whether the same is done at 'arm's length'. | No |
Pilli Swetha, Whole Time Director of TeleCanor Global Limited, approved the announcement.
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