Treasure Global signs exclusive worldwide license with Morganfield's to sub-license brand and adopt TAZTE system

TREASURE GLOBAL INC

Exclusive worldwide rights to grant sub-licensees for Morganfield's restaurant brand; term 5 years (2023-2028), auto-renewal.
Morganfield's adopts TAZTE digital F&B management system in its nine franchisees across Malaysia, China, and Singapore.
Minimum monthly payment from TGL to Morganfield's: RM90,000 (Year 1) escalating to RM130,000 (Year 5).
TGI plans to replicate licensing model with other F&B brands to become largest F&B chain without owning physical restaurants.
New revenue streams: start-up fees from new locations, monthly licensing fees, and supply chain management.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TREASURE GLOBAL INC entered into Worldwide Master License Agreement with Morganfield's Holdings Sdn. Bhd. (effective 2023-05-01).

Action: entry
Agreement: license
Counterparty: Morganfield's Holdings Sdn. Bhd.
Effective: 2023-05-01

Exact text from the filing

On May 1, 2023, Treasure Global Inc (“TGL”), through its affiliate, Morgan Global Sdn. Bhd. (together with TGL, the “Company”) and Morganfield’s Holdings Sdn. Bhd. (“Morganfield’s”), a restaurant chain specializing in comfort food and American-style barbecue, entered into a Worldwide Master License Agreement (the “License Agreement”), in which Morganfield’s granted the Company an exclusive worldwide license to grant sub-licensees to third parties to use Morganfield’s trademarks for the restaurant business.

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Source: SEC EDGAR

accession 0001575872-23-000670

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