Vancouver, British Columbia--(Newsfile Corp. - March 5, 2024) - Argo Living Soils Corp. (CSE: ARGO) ("Argo") announces that it will be finalizing the 10-year licensing agreement with Canadian AgriChar Inc. ("CAI") by issuing the second and final tranche of shares. See the news release issued on September 28, 2023. Argo also wishes to announce that it has entered into discussions with Connective Global SDN BHD ("Connective"), a Malaysian-based company.
10-Year Licensing Agreement with Canadian AgriChar Inc
Argo will be completing the payment terms and securing the exclusive licencing agreement rights to CAI's proprietary products, including all of the CHAR+ BioChar and BioChar enhanced products. Argo is poised to receive a percentage of revenues generated from CHAR+ BioChar and BioChar enhanced product sales.
CAI stands at the forefront of biochar product development, harnessing proprietary techniques to create biochar materials, which serve to maximize organic plant growth.
The organic fertilizer market, valued at USD 8.20 billion in 2019, is anticipated to reach USD 18.81 billion by 2027, experiencing a CAGR of 11.80% from 2020 to 2027. This market segment focuses on natural and sustainable alternatives to conventional chemical fertilizers, driven by increasing consumer demand for organic produce and growing concerns about soil degradation.
The licensing agreement with CAI marks a substantial milestone for Argo, further fortifying its strategic foundation in the development, marketing, and distribution of a diverse range of natural and organic fertilizers. Commenting on the transaction Argo's CEO, Mr. Hoyle, added, "Our strategic plan to deliver environmentally sustainable products and services to the organic fertilizer market is advancing. Originating from our roots in developing, manufacturing, and distributing organic fertilizers and soil enhancers, we are pleased to complete our licensing agreement with CAI."
Discussions with Connective Global
Argo's CEO, Mr. Peter Hoyle, also noted, "We are pleased to announce our ongoing discussions with Connective Global SDN BHD. We are actively exploring multiple opportunities and initiatives connected to the production of organic solutions for agriculture, progressing toward a Memorandum of Understanding (MOU) which would delineate our potential strategic partnership. We anticipate finalizing the MOU shortly."
Connective Global whose services include organic fertilizer trading, founded by a seasoned group of entrepreneurs with diverse experiences in food distribution and agricultural products in South East Asia focuses on environmentally sustainable products and services across that region.
The ongoing discussions with Connective Global aim to further broaden Argo's environmentally sustainable products and services portfolio. We anticipate providing additional updates in the weeks to come.
About Argo Living Soils Corp.
The company specializes in producing and developing organic products, including soil amendments, living soils, biofertilizers, vermicompost and compost extracts formulated specifically for high-value crops. The Company's vision and overall business plan are to create an established brand of organic and/or environmentally friendly products. The company was founded in 2018, and its production facilities have been expanded and relocated to Duncan, British Columbia, in a joint venture with Pacific Composting.
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For further information please contact:
Peter Hoyle
Chief Executive Officer
Argo Living Soils Corp.
Email: peter.hoyle@shaw.ca
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-Looking information includes, but is not limited to, the completion of the Offering, size of the Offering, the use of proceeds and the Company creating a brand of organic and/or environmentally friendly products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "plans", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-Looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
