Argo Living Soils Corp. Signs Research and Development Agreement with Connective Global and Announces Director and Advisor Appointments
Argo Living Soils (CSE: ARGO, OTC: ARLSF) has signed a binding research and development agreement with Malaysian-based Connective Global, replacing their previous non-binding MOU. The agreement includes a C$100,000 R&D budget and the issuance of up to 500,000 common shares to Connective Global. The company has appointed Mr. Lee Kok Onn to its Board of Directors and Dr. Mohamad Amran Bin Mohd Salleh as Special Advisor, strengthening their Southeast Asian presence. The R&D phase, utilizing University Putra Malaysia's facilities, is scheduled until September 2025, with an option for Argo to acquire Connective Global for 2,000,000 common shares.
Argo Living Soils (CSE: ARGO, OTC: ARLSF) ha firmato un accordo vincolante di ricerca e sviluppo con Connective Global, con sede in Malesia, sostituendo il precedente MOU non vincolante. L'accordo include un budget per la R&S di C$100.000 e l'emissione di fino a 500.000 azioni ordinarie a favore di Connective Global. L'azienda ha nominato Mr. Lee Kok Onn nel suo Consiglio di Amministrazione e Dr. Mohamad Amran Bin Mohd Salleh come Consulente Speciale, rafforzando la loro presenza nel sud-est asiatico. La fase di R&S, che utilizza le strutture dell'Università Putra Malaysia, è programmata fino a settembre 2025, con l'opzione per Argo di acquisire Connective Global per 2.000.000 azioni ordinarie.
Argo Living Soils (CSE: ARGO, OTC: ARLSF) ha firmado un acuerdo vinculante de investigación y desarrollo con Connective Global, con sede en Malasia, reemplazando su anterior MOU no vinculante. El acuerdo incluye un presupuesto de I+D de C$100,000 y la emisión de hasta 500,000 acciones comunes a Connective Global. La empresa ha nombrado a Mr. Lee Kok Onn en su Junta Directiva y al Dr. Mohamad Amran Bin Mohd Salleh como Asesor Especial, fortaleciendo su presencia en el sudeste asiático. La fase de I+D, utilizando las instalaciones de la Universidad Putra Malaysia, está programada hasta septiembre de 2025, con una opción para que Argo adquiera Connective Global por 2,000,000 acciones comunes.
Argo Living Soils (CSE: ARGO, OTC: ARLSF)는 말레이시아에 본사를 둔 Connective Global와 구속력 있는 연구 개발 계약을 체결하였으며, 이전의 비구속적인 MOU를 대체하게 되었습니다. 이 계약에는 C$100,000의 연구개발 예산과 Connective Global에 최대 500,000주에 달하는 보통주가 포함되어 있습니다. 아르고는 이사회의 Mr. Lee Kok Onn를 임명하고 Dr. Mohamad Amran Bin Mohd Salleh를 특별 고문으로 임명하여 동남아시아에서의 입지를 강화하고 있습니다. 연구개발 단계는 말레이시아 푸트라 대학교의 시설을 이용하여 2025년 9월까지 예정되어 있으며, 아르고가 2,000,000주의 보통주로 Connective Global을 인수할 수 있는 옵션이 제공됩니다.
Argo Living Soils (CSE: ARGO, OTC: ARLSF) a signé un accord de recherche et développement contraignant avec Connective Global, basé en Malaisie, remplaçant leur précédent protocole d'accord non contraignant. L'accord comprend un budget de R&D de 100 000 CAD et l'émission de jusqu'à 500 000 actions ordinaires à Connective Global. L'entreprise a nommé Mr. Lee Kok Onn à son conseil d'administration et Dr. Mohamad Amran Bin Mohd Salleh comme conseiller spécial, renforçant ainsi leur présence en Asie du Sud-Est. La phase de R&D, utilisant les installations de l'Université Putra Malaysia, est programmée jusqu'en septembre 2025, avec une option pour Argo d'acquérir Connective Global pour 2 000 000 actions ordinaires.
Argo Living Soils (CSE: ARGO, OTC: ARLSF) hat einen verbindlichen Forschungs- und Entwicklungsvertrag mit dem in Malaysia ansässigen Connective Global unterzeichnet, der das vorherige unverbindliche MOU ersetzt. Der Vertrag umfasst ein F&E-Budget von 100.000 CAD und die Ausgabe von bis zu 500.000 Stammaktien an Connective Global. Das Unternehmen hat Mr. Lee Kok Onn in seinen Vorstand berufen und Dr. Mohamad Amran Bin Mohd Salleh als Sonderberater ernannt, um seine Präsenz in Südostasien zu stärken. Die F&E-Phase, die die Einrichtungen der Universität Putra Malaysia nutzt, ist bis September 2025 geplant, mit der Option für Argo, Connective Global für 2.000.000 Stammaktien zu erwerben.
- Strategic partnership established in Southeast Asian market
- Secured research facilities at University Putra Malaysia
- Option to acquire Connective Global's assets/shares
- Added regional expertise through key appointments
- C$100,000 R&D expenditure commitment
- Share dilution through issuance of up to 500,000 common shares
- Additional potential dilution of 2,000,000 shares if acquisition option exercised
- No guarantee of commercial production agreement after R&D phase
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2024) - Argo Living Soils Corp. (CSE: ARGO) (OTC Pink: ARLSF) ("Argo" or the "Company") is pleased to announce that, further to its news releases dated March 5, 2024, April 2, 2024, April 9, 2024, April 19, 2024 and June 3, 2024, the Company has signed a binding research and development phase definitive agreement (the "Definitive Agreement") with Malaysian-based company, Connective Global SDN BHD ("Connective Global"), to establish a strategic partnership between the two entities. The Definitive Agreement replaces the Company's previously announced non-binding memorandum of understanding with Connective Global.
Argo's Definitive Agreement with Connective Global strategically positions the Company in Southeast Asia, creating a formidable opportunity for growth and expansion. In line with this initiative, the Company is pleased to announce two key appointments that bring significant experience and expertise specific to the biochar market and the region.
Appointees
Mr. Lee Kok Onn (Daniel) has joined Argo's Board of Directors. With an MBA from University Kebangsaan Malaysia, Mr. Lee has served as a technical and market development advisor for multinational corporations such as Johnson & Johnson, Novartis, and Boehringer Ingelheim. He is currently the Marketing Director at Ameoba Venture and the International Business Manager for Hovid Berhad, adding valuable insights for these organizations into the Southeast Asian market.
Argo also welcomes Prof. Madya Dr. Mohamad Amran Bin Mohd Salleh, PhD (Chem Eng), as a Special Advisor to the company. Dr. Amran Salleh is the President of the Biochar Malaysia Association and earned his PhD from the University of Birmingham (UK) in 2003. He is the former Deputy Director of the Foundation Center for Agriculture at UPM and previously led the Department of Chemical and Environmental Engineering at UPM. His expertise will significantly enhance the Company's strategic initiatives in the region.
Together, these appointments augment Argo's capabilities, further positioning the Company for success in Southeast Asia.
The collaboration between Argo and Connective Global has uncovered significant potential for biochar-based products in key markets such as Southeast Asia and the Middle East. Biochar's capacity to rejuvenate and enrich heavily cultivated agricultural soils could substantially enhance food production in these areas.
Definitive Agreement
As a condition of the Definitive Agreement, Connective Global has secured the research facilities of University Putra Malaysia for Argo and Connective Global to conduct their joint research. The parties agreed that the research and development phase is anticipated to last until September, 2025.
Under the Definitive Agreement, Argo has agreed to fund a C
Additionally, Connective Global has granted Argo an irrevocable and exclusive right and option to, at any time while the Definitive Agreement remains in effect, purchase and acquire all of the property, assets and/or shares of Connective Global in consideration for Argo issuing 2,000,000 common shares. The ultimate transaction structure of such acquisition, if such an option is exercised by Argo, will be determined by Argo based on tax, securities law, corporate law, and other considerations.
If the 12-month research and development phase is successful, Argo and Connective Global agreed to make reasonable commercial efforts to negotiate and enter into a commercial production agreement. However, there is no guarantee that a definitive commercial production agreement will proceed as outlined above or be completed at all.
Pursuant to the Definitive Agreement, Argo and Connective Global have agreed to jointly pursue the research and development of biochar for agricultural and industrial applications in Malaysia and across certain regions in Asia.
About Connective Global SDN BHD
Connective Global is a Malaysian-based company specializing in the manufacture and distribution of organic fertilizers, agricultural products and food items in Southeast Asia, with a focus on environmentally sustainable products and services.
About University Putra Malaysia
University Putra Malaysia (UPM), established initially as the School of Agriculture in 1931, has its origins in agricultural education and research. It maintains a strong focus on agricultural sciences, including agronomy, horticulture, animal sciences, food science and technology, forestry, and agricultural biotechnology. Ranked No. 36 globally for agricultural sciences by United States News & World Report, UPM is renowned for its robust programs and research initiatives in these fields.
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.
We Seek Safe Harbor.
For further information please contact:
Robert Intile
Director
Argo Living Soils Corp.
Email: robertcintile@gmail.com
Phone: 604-763-4017
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 research and development of biochar products pursuant to the Definitive Agreement; the Company and Connective Global researching and developing biochar for agricultural and industrial applications in Malaysia and across certain regions in Asia; the Company funding a CAD
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FAQ
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