One Step Vending Corp. (KOSK), Enters into a Joint Venture Agreement with Foundation Farms, Corp. and Acquires 51% of E-Roots (Abbotsford), Ltd., Tapping into the 113.7 Billion Agriculture Sector

Rhea-AI Summary

One Step Vending Corp. (OTC: KOSK) has entered into a joint venture acquisition agreement with Foundation Farms, Corp. to acquire 51% of E-Roots (Abbotsford), Ltd. The agreement aims to utilize technical expertise in growing and marketing organic produce through innovative vertical farming systems. KOSK will establish a revenue-sharing model and is set to explore market opportunities via its vending machines. The company intends to engage interested parties for potential partnerships to expand this new venture.

Positive

• Acquisition of 51% stake in E-Roots presents opportunities for revenue growth in the agriculture sector.
• Joint venture will leverage technical know-how to enhance organic produce marketing and sales.
• Establishment of a revenue-sharing model (50/50) may drive profitability.
• Potential expansion of market opportunities through vending machine utilization.

Negative

• None.

Harrison, NY., March 15, 2022 (GLOBE NEWSWIRE) -- One Step Vending Corp. (OTC: KOSK) (“KOSK” or “the Company”), a company specializing in emerging industries acquisitions with an emphasis in the self-serve vending market, enters into a JV acquisition agreement with Foundation Farms, Corp. (“FFC”) and acquires 51% of E-Roots (Abbotsford), Ltd. (“ERA”) after its signed LOI announced in the beginning of March 2022.

The JV with FFC will provide the knowledge and technical know how in order to grow, market, and sell grown produce through the purchasing or leasing of space for operations. The acquisition will have the Company own 51% of ERA to build and purchase its self-sustaining vertical organic farming systems with a divided 50/50 revenue share.

Through the JV and acquisition, the Company will now be involved in the agriculture sector while exploring the many opportunities with its vending machines. During the LOI’s due diligence phase the Company has obtained many interested parties through its network to potentially purchase and utilize the farming systems. Now signed and executed, the Company plans to discuss further with the interested parties and seek other potential partners to expand this new unique venture.

About Foundation Farms 2021, Corp.

Foundations Farms 2021, Corp. focuses on creating worldwide farming systems the produce organic fruits, vegetables and herbs while maximizing their nutrient content, providing product traceability and most important maintaining environmental sustainability through its modular vertical farm joint venture partnerships.

For more information visit: https://www.foundationfarms2021.com

About E-Roots (Abbotsford), Ltd.

E-Roots (Abbotford), Ltd. markets and distributes the green produce from itself containing growing module.

About One Step Vending Corporation (KOSK)

One Step Vending Corp. is a holding company focused on the acquisition of market-changing and disruptive business models. The Company supports subsidiaries with key financials, sales, marketing, and operational changes designed to accelerate growth and shareholder value.

For more information visit: http://www.onestepvending.com

SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange — including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions — are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company’s control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.

Company Contact:
Ronald Minsky, President
600 Mamaronek Ave,
Harrison, NY 10528
info@onestepvending.com
212.381.8029 Office

FAQ

What is the recent acquisition by One Step Vending Corp. (KOSK)?

One Step Vending Corp. has acquired a 51% stake in E-Roots (Abbotsford), Ltd.

What is the purpose of the joint venture with Foundation Farms?

The joint venture aims to enhance the marketing and sale of organic produce using vertical farming systems.

How will the acquisition impact KOSK's revenue?

KOSK expects to benefit from a revenue-sharing model, potentially leading to increased profitability.

What opportunities is KOSK exploring post-acquisition?

KOSK is looking into partnerships to expand market opportunities for its vending machines.

When was the acquisition agreement announced?

The acquisition agreement was announced on March 15, 2022.