14:53:34 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Argo Living Soils Corp
Symbol ARGO
Shares Issued 25,903,001
Close 2024-04-08 C$ 0.215
Market Cap C$ 5,569,145
Recent Sedar Documents

Argo Living to research biochar with Connective Global

2024-04-09 14:06 ET - News Release

Mr. Peter Hoyle reports

ARGO LIVING SOILS CORP. ANNOUNCES SIGNING OF MOU WITH MALAYSIAN-BASED CONNECTIVE GLOBAL

Argo Living Soils Corp. has signed a non-binding memorandum of understanding with Connective Global SDN BHD to establish a strategic partnership between the two entities.

Pursuant to the MOU, 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. Argo and Connective Global intend to work together to research, and develop biochar-enhanced products tailored for distribution in Southeast Asia and the Middle East. The research and development of products by Argo and Connective Global will be for a period of 12 months. Pursuant to the MOU, Connective Global will secure the research facilities of University Putra Malaysia for Argo and Connective Global to carry out their joint research. In consideration for use of research facilities and Connective Global's collaboration, Argo has agreed to fund a CAD$100,000 budget for research and development and issue up to one million common shares to Connective Global in stages based on achieving certain performance milestones in connection with the research and development phase, subject to applicable securities laws and exchange acceptance.

On successful completion of the 12-month research and development phase, Argo and Connective Global intend to negotiate and enter into a definitive commercial production agreement.

Expanding Markets: While Argo continues to pursue biochar opportunities in North America, the Company's strategic partnership with Connective Global has already identified promising prospects in the Middle East and Southeast Asia. Several Middle Eastern nations are spearheading initiatives to convert desert or arid land into arable farmland. Driven by concerns over food security, population growth, and the imperative to diversify economies, countries such as Saudi Arabia, the United Arab Emirates (UAE), Egypt, Qatar, and Jordan have launched initiatives that underscore a growing recognition of sustainable agriculture's importance.

Through the ongoing discussions, Argo and Connective Global have identified additional opportunities for biochar-related products in key markets such as India and China as well as several South-East Asian nations. Using biochar to restore and enrich heavily used agricultural soils will benefit the food production of those countries.

In summary, the soil enhancement and fertilizer markets have experienced significant transformations over the past decade. Technological advancements, evolving consumer preferences, regulatory shifts, and changing agricultural practices have contributed to an escalating demand for products like Argo's proprietary biochar offerings.

Peter Hoyle, Chief Executive Officer of Argo, comments, "This is an exciting and significant step for Argo, which will allow us to evolve our business in the large and growing Asian market."

About Connective Global

Connective Global is a Malaysian-based company that manufactures and distributes organic fertilizers, agricultural products, and food items in Southeast Asia, with a focus on environmentally sustainable products and services.

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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.