ITOCO Signs Agreement with Portugal Partner

Rhea-AI Summary

ITOCO INC. (OTC:ITMC) has finalized an exclusive agreement with Colorful Euphoria Lda, enhancing its operations in Europe and Africa. This partnership allows ITOCO to own client contracts while Colorful Euphoria manages project fulfillment, including the Soil Rescue Program, sales coordination, and securing funding. Additionally, Colorful Euphoria will develop a carbon credit methodology using Opuntia fiscus-indica, positioning ITOCO as the first to sell these credits. In return, Colorful Euphoria will receive 40 million shares and project-based remuneration.

Positive

• Exclusive agreement with Colorful Euphoria enhances business operations in Europe and Africa.
• Colorful Euphoria's expertise in project management aligns with ITOCO's Soil Rescue Program.
• Potential first mover advantage in carbon credits through nopal cactus.

Negative

• None.

TORONTO, ON / ACCESSWIRE / January 5, 2023 / ITOCO INC. (OTC:ITMC) is pleased to announce it has finalized an agreement with Colorful Euphoria Lda, Portugal. The agreement replaces all earlier versions.

Both parties agree to an Agency Agreement which forges an "exclusive" collaborative working relationship that benefits both parties.

Colorful Euphoria has established strong opportunities in Europe and Africa that are on the verge of realization. Under this agreement, ITOCO will own client contracts and Colorful Euphoria, which has the expertise and experience, will be contracted to fulfill, and manage the projects.

The services to be provided by Colorful Euphoria include identifying projects for ITOCO's Soil Rescue Program (SRP), scoping potential business solutions, improving sales by coordinating sales efforts, assisting in raising grant/investor funding, supplying required deliverables of SRP such as starting material, planting equipment, training, supervision, etc.

Colorful Euphoria is also developing Carbon Credit methodology which will make ITOCO the first to sell carbon credits through Opuntia fiscus-indica or nopal cactus.

In return for its exclusivity and work done to date, Colorful Euphoria has been awarded 40,000,000 ITOCO shares and will be remunerated on a project-by-project basis.

This arrangement, which includes negotiations currently underway between Colorful Euphoria and clients in Europe and Africa, commits Colorful Euphoria's expertise, relationships, and current negotiations to the benefit of ITOCO.

ABOUTCOLORFUL EUPHORIA LDA

Colorful Euphoria Lda is based in Lisbon, Portugal with strong ties to contacts throughout Europe and Africa. It has partnered with Portugal's largest nopal cactus plantation, Dialogos do Bosque in the Alentejo region, and is developing industry leading research for land reclamation, food security, biomass for energy and ethanol projects, and carbon credits.

ABOUT ITOCO INC.

ITOCO's mission is to be a global leader in soil rehabilitation, carbon sequestering, and biofuel production for the Clean Energy sector. ITOCO has developed and is promoting its Soil Rescue Program in Europe and Africa. ITOCO Inc. trades on the OTC Markets, symbol: ITMC. ITOCO is a 14-year-old publicly quoted Biotech company based in Toronto Canada and Nevada USA. ITOCO seeks to partner with outstanding individuals and companies within the land regeneration, climate change and bioenergy fields to joint venture, research, and co-develop related products and technologies to the market.

ITOCO Energy
ITOCO Soil Rescue
ITOCO Carbon Capture
ITOCO Climate Change

STEPHEN MCNEILL
President
ITOCO INC

For further information, please contact our Investor Relations department at:
stephen@itoco.net

SOURCE: ITOCO Inc.

View source version on accesswire.com:
https://www.accesswire.com/734179/ITOCO-Signs-Agreement-with-Portugal-Partner

FAQ

What is the significance of ITOCO's agreement with Colorful Euphoria?

The agreement establishes an exclusive partnership that enhances ITOCO's project fulfillment capabilities in Europe and Africa.

How many shares did Colorful Euphoria receive from ITOCO?

Colorful Euphoria was awarded 40 million shares as part of the agreement.

What is the Soil Rescue Program related to ITOCO?

The Soil Rescue Program aims to rehabilitate soil and is a key focus of ITOCO's business operations.

What potential advantages does ITOCO have with carbon credits?

ITOCO may become the first company to sell carbon credits derived from Opuntia fiscus-indica, which could provide a competitive edge.

Where is Colorful Euphoria based and what is its focus?

Colorful Euphoria is based in Lisbon, Portugal, focusing on land reclamation and projects linked to food security and carbon credits.