CGS International Reaches Deal to Acquire Rights to Plant Based Organic Foods

Rhea-AI Summary

CGS International, Inc. (OTC PINK:CGSI) announced a deal to acquire rights to organic plant-based foods from Mindful FUD, Inc., a Canadian company. Under a Territorial License Agreement, CGSI will gain exclusive rights for marketing, manufacturing, and distribution of Mindful FUD products in Asia and specific regions. The transaction, which is expected to close within the week, aims to enhance sustainability efforts in line with the company's existing organic products, GENESIS 89 and GENESIS 89 GOLD.

Positive

• Acquisition of exclusive marketing rights for Mindful FUD products in Asia.
• Synergy with existing product lines focused on sustainability and environmental impact.
• Opportunity for market expansion into plant-based food sector.

Negative

• None.

QUEZON CITY, PHILIPPINES / ACCESSWIRE / February 8, 2022 / CGS International, Inc. (OTC PINK:CGSI) (the "Company" or "CGSI"), a publicly traded, fully reporting emerging growth company focused on the development and sale of its organic plant enhancers known as GENESIS 89 and GENESIS 89 GOLD, is pleased to announce that it has reached a deal to acquire certain rights to organic plant-based foods with Mindful FUD, Inc. ("Mindful FUD"), a Canadian based company.

CGSI and Mindful FUD have agreed on the framework for a Territorial License Agreement whereby CGSI shall acquire (i) the exclusive marketing, manufacturing, and distribution rights to all Mindful FUD products in Asia and (ii) the right to market, manufacture and distribute Mindful FUD products in certain geographic regions. Once signed, the deal will require CGSI to advance certain funds to Mindful FUD in exchange for these rights.

"The environmental impact and sustainability of the animal agriculture industry drove the creation of Mindful FUD products, and it is those same goals that have driven us in the development of the Genesis 89 products," stated Ramon Mabanta, CEO of CGSI. "We are thrilled that we are on the verge of executing this agreement with Mindful FUD. The synergy between our companies is amazingly strong as we both aim to cut our carbon footprint, save water and help ensure vital crop resources are fed to people."

Using country-level data from the Food and Agriculture Organization of the United Nations, if 50 percent of the world's population restricts their diet to a healthy 2,500 calories per day and reduces meat consumption overall, it is estimated that at least 26.7 gigatons of emissions could be avoided from dietary change alone. If avoided deforestation from land use change is included, an additional 39.3 gigatons of emissions could be avoided, making healthy, plant-rich diets one of the most impactful solutions at a total of 66 gigatons reduced.

A global shift to a plant-based diet could reduce mortality and greenhouse gases caused by food production by 10% and 70%, respectively, by 2050. A report from the United Nations Environment Programme says that "animal products, both meat and dairy, in general require more resources and cause higher emissions than plant-based alternatives." The World Health Organization says, "Reducing livestock herds would also reduce emissions of methane, which is the second largest contributor to global warming after carbon dioxide."

While the framework for the deal with Mindful FUD has been negotiated, the actual closing of this transaction is anticipated within the week. Additional updates will be announced as they become available.

ABOUT MINDFUL FUD

Mindful FÜD prides themselves in being a high-quality producer of delicious, natural and sustainable alternatives to animal products with a greater focus on inclusion of all types of consumers. They believe with the welcome mat open that we can make a greater number of people open minded about their food choices.

Mindful FÜD started as a meal delivery service in 2015 called Feed Me Fit. Shortly thereafter, Mindful FÜD built a commercial kitchen from scratch and operated until 2019 offering a wide range of healthy food options. Mindful FÜD started creating its first plant-based meat alternative in 2019 when asked to team up with a local charity to provide 100 families with plant-based burgers for 3 months, and through a lot of trial and error, created a product they were eager to share with the world, all while helping those in need. This is why, in 2020, Mindful FUD decided to focus solely on their plant-based products. Presently, Mindful FÜD is rapidly growing and over the last month has added over 50 retailers and got listed at 110 Save-On-Foods department stores in Canada, as well as an online grocer ‘Vejii' which is one of the largest online plant-based retailers, which allows them access across the Canada and US market.

ABOUT US:

CGS International, Inc., by and through its wholly owned subsidiary, World Agri Minerals Inc., manufactures, markets, and sells a premiere proprietary commercial Agri-product known world-wide as GENESIS 89™. After years of research and development, GENESIS 89™ has been formulated to contain over 80 different trace minerals and contains a unique proprietary blend of these organic trace minerals. World Agri Minerals GENESIS 89™ product line boasts the highest concentration of seawater-harvested minerals available on the commercial and even the retail market. The proprietary extraction of these minerals provides the GENESIS 89™ product a unique blend of organic trace minerals and boasts the highest concentration of seawater-harvested minerals available on the market. All World Agri Mineral products consist of organic plant nutrients that hope to change the way the agriculture industry grow and fertilize products. Our GENESIS 89™ premium organic growth supplement can be applied as a soil amendment and/or foliar spray. We are confidently pressing forward as the premier ocean-based mineral plant food on the market.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This release contains "forward-looking" statements. All forward-looking statements are subject to uncertainty and changes in circumstances. Forward-looking statements are not guarantees of future results or performance and involve risks, assumptions and uncertainties that could cause actual events or results to differ materially from the events or results described in, or anticipated by, the forward-looking statements. Factors that could materially affect such forward-looking statements include certain economic, business, and regulatory risks and factors identified in the Company's periodic reports filed with the Securities and Exchange Commission. All forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.

For more information:

Contact us via: info@cgsintl.com

SOURCE: CGS International Inc.

View source version on accesswire.com:
https://www.accesswire.com/687773/CGS-InternationalReaches-Deal-to-Acquire-Rights-to-Plant-Based-Organic-Foods

FAQ

What is the purpose of CGSI's acquisition of Mindful FUD?

The acquisition aims to enhance CGSI's product offerings in the organic plant-based food sector and expand its market reach in Asia.

What products will CGSI market under the Mindful FUD brand?

CGSI will acquire rights to market, manufacture, and distribute all Mindful FUD products in Asia and certain other regions.

When is the CGSI and Mindful FUD deal expected to close?

The closing of the deal is anticipated within the week following the announcement.

How will this acquisition impact CGSI's sustainability goals?

The acquisition aligns with CGSI's commitment to sustainability by promoting plant-based diets, which can reduce environmental impact.

What is the significance of the Territorial License Agreement for CGSI?

The Territorial License Agreement grants CGSI exclusive rights in Asia, potentially increasing revenue and market presence in the growing plant-based food sector.