TEMPE, AZ – December 09, 2009 – VirTra Systems, Inc. Bob Ferris, VirTra Systems’ CEO and president (OTC:VTSI.PK), today announced that VirTra Systems and Agora Telecom have signed a 3 year contract for the exclusive distribution of VirTra’s products in Latin America (excluding the country of Mexico). The contract secures a minimum of $3 million in sales ($1 million per year for 3 years) from Agora in exchange for exclusivity. As of today, VirTra has not sold simulators in Latin America, except in Mexico and Brazil. Any pending sales in Latin America are unaffected by the agreement.
In December 2008, VirTra signed a similar exclusive distribution agreement with Agora for the country of Brazil. Agora’s performance under the current agreement has been exceptional. Since signing the previous agreement, Agora has exceeded the minimum level in sales for the territory, each and every year. “We see this as a great opportunity to expand our business with VirTra throughout Latin America.” said Severino Sanches CEO of Agora.
“Agora has proven themselves by successfully selling VirTra’s firearms training systems into Brazil. They now plan to expand their sales force and territory and we are behind them 100%. We are pleased to accept their 3 year, $3 million commitment and expect this agreement to benefit VirTra, Agora and our customers in Latin America.”