Argo Living Soils Corp. Advances Towards MOU with Malaysian-Based Connective Global
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Vancouver, British Columbia--(Newsfile Corp. - April 2, 2024) - Argo Living Soils Corp. (CSE: ARGO) ("Argo") is pleased to announce, further to its news release dated March 5, 2024, additional progress towards finalizing a Memorandum of Understanding (the "MOU") with Connective Global SDN BHD ("Connective Global"), a Malaysian-based company. The MOU aims to establish a strategic partnership between the two entities.
Both Argo and Connective Global have identified synergies in various collaborative opportunities and initiatives within the organic agricultural solutions sector.
Connective Global's operations in Malaysia encompass the manufacturing and distribution of organic fertilizers, agricultural products, and a variety of food items in Southeast Asia. Connective Global is committed to delivering environmentally sustainable products and services to the region. While Argo remains committed to expanding its market for organic fertilizer products, leveraging its expertise and proprietary processes and extending its distribution network. The proposed MOU seeks to align Argo's business plan with Connective Global's existing operations by establishing an initial presence in Southeast Asia for Argo, such that Argo will have an opportunity to work with Connective Global to research, develop and test organic fertilizer products tailored for distribution in Southeast Asia and the Middle East.
The primary focus of the proposed MOU will involve the establishment of a BioChar research and development phase to be conducted at a pre-existing pilot plant in Malaysia secured by Connective Global during this initial collaboration. If the pilot plant testing and research and development phase is successful, Argo and Connective Global aim to focus additional efforts on combining Argo's manufacturing expertise and proprietary processes in biochar production with Connective Global's proficiency in producing organic fertilizers and agricultural products, to create biochar-enhanced fertilizer products that target the Malaysian market and certain other markets in Asia.
Mr. Peter Hoyle, CEO of Argo, comments, "Establishing a presence in South East Asia has the potential to provide Argo access to markets in the Middle East, including Saudi Arabia, a significant trading partner for Malaysia. BioChar's ability to hold moisture and enhance soil makes it an ideal component for initiatives to transform unusable arid and desert areas into productive land."
Ongoing discussions with Connective Global aim to further diversify Argo's portfolio of environmentally sustainable products and services. As at the date of this news release, the MOU has not been completed or executed and there is no guarantee that the MOU will proceed as outlined above. The MOU remains subject to negotiation and execution of definitive documentation acceptable to both parties, which may or may not be completed. Updates on this partnership will be provided in the coming weeks.
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. In 2023 Argo entered into an exclusive marketing arrangement with Canadian AgriChar Inc selling its CHAR+ products.
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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 and execution of the MOU; the entities establishing a strategic partnership; Argo expanding its market for organic fertilizer products, leveraging its expertise and proprietary processes and extending its distribution network; Argo establishing an initial presence in Southeast Asia; researching, developing and testing organic fertilizer products tailored for distribution in Southeast Asia and the Middle East; establishing a BioChar research and development phase conducted at a pre-existing pilot plant; combining Argo's manufacturing expertise and proprietary processes in biochar production with Connective Global's proficiency in producing organic fertilizers and agricultural products; creating biochar-enhanced fertilizer products for the Malaysian and Asian markets; Argo's access to markets in Asia and the Middle East, the Company providing updates on this project, 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", "will have", "plans", "aims", "potential" 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203886
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