Mr. Peter Swistak of Vertical reports
VERTICAL EXPLORATION SIGNS DISTRIBUTION AGREEMENT WITH AREV BRANDS INTERNATIONAL LTD. TO SUPPLY ST-ONGE WOLLASTONITE TO THE CANNABIS AND HEMP INDUSTRIES
Vertical Exploration Inc. and Arev Brands International Ltd., further to the press release of Sept. 12, 2019, have entered into a definitive distribution agreement to partner on the sale of Vertical's wollastonite from its world-class St-Onge deposit in order to supply the fast growing cannabis and hemp industries.
Vertical and Arev Brands have agreed to enter into this distribution agreement, whereby Vertical will supply wollastonite materials produced from its St-Onge mineral property located in Quebec to Arev Brands for distribution and/or resale to both small-scale craft cannabis or hemp-growing operations and large-scale cannabis or hemp-growing operations licensed by Health Canada.
Vertical's high-quality wollastonite has been shown to be beneficial to cannabis plants in a variety of ways. In February, 2019, Vertical announced the successful completion of phase 3 trials involving cannabis grown with wollastonite (CaSiO3) as a soil additive at B.C. Bud Depot's (BCBD) ACMPR-licenced research and development facilities in Vancouver, B.C. In the phase 3 trials, BCBD measured and recorded significant improvements in root mass, powdery mildew control and pest elimination. At a microscopic level, wollastonite's needle-like structure penetrates soft-bodied insect larvae and pupae, interrupting the life cycle without the use of pesticides. Wollastonite's unique properties also allow it to break down into calcium, magnesium and silicon in a highly bio-available form that balances soil pH throughout the growth cycle -- this allows the cannabis plants to uptake silicic acid and promotes strong cell walls that better resist insect feeding and spore penetration, supporting increased growth and elevated product yields.
Peter P. Swistak, president and chief executive officer of Vertical Exploration, commented: "We are very pleased to have signed our first distribution and sales agreement with Arev Brands, as we believe there is a large and growing cannabis and hemp market opportunity for Vertical's world-class St-Onge wollastonite. I firmly believe that this distribution partnership will be highly beneficial to both companies."
This transaction is subject to the approval of the TSX Venture Exchange.
About Arev Brands International Ltd.
Arev Brands produces and delivers functional compounds and ingredients from its world-class extraction systems. Arev is revolutionizing the current delivery method of terpenes, cannabinoids and flavonoids.
About Vertical Exploration Inc.
Vertical Exploration's mission is to identify, acquire and advance high-potential mining prospects located in North America for the benefit of its stakeholders. The company's flagship St-Onge wollastonite property is located in the Lac-Saint-Jean area in Quebec.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.