Flexiroam Limited signed an agreement to provide connectivity to NearshoreNetworks Inc. Under the agreement, NEARSHORE will deploy Flexiroam's network to supply data to client vessels under its services management platform for a range of uses including offshore internet, vessel tracking vessel systems connectivity and other large volume secure data movement to shore. Data will be accessed by vessels in the US, Brazil, Europe and Middle East. The agreement has an initial term of 3 years and contains terms and conditions which are customary for an agreement of this nature, including a 30-day termination notice after the initial period by either party.

The agreement will significantly contribute to the Company's growing recurring revenue stream as data commitments are rolled out and is expected to add substantial value over its 3-year term. The minimum data volume committed for this partnership is 24TB per annum.