Capai (LSE:CPAI), the applied artificial intelligence venture platform, has extended its licence and option agreements with R42 Group across all three platforms in its capMedia portfolio, aligning them around a common expiry around a year from now (with a new deadline of 7 July 2027).
The deeds of amendment, signed on 8 July, push back the Author42 licence period from 24 July and the Movie42 licence period from 14 October, both now running to the same July 2027 date.
Gamers42, which has not yet reached minimum viable product readiness, had its longstop date similarly extended to 7 July 2027, with a revised non-binding target for MVP delivery of 31 March 2027.
All other terms remain unchanged, including Capai's discretionary option to acquire the intellectual property of each platform for £2 million per platform, and R42's entitlement to 20% of net proceeds from any future monetisation following an option exercise.
"This extension simply gives each platform the runway it needs to keep building a genuine commercial user base before we take any decision on exercising our options," said Professor Ronjon Nag, Executive Chairman of Capai.
The Gamers42 licence period will run for 12 months from the date R42 delivers its MVP completion notice.
