VANCOUVER, BC - TheNewswire - July 8, 2020 - AREV Nanotec Brands Inc. (CSE:AREV) (CNSX:AREV.CN) (OTC:AREVF) ("AREV") is pleased to announce that it has entered into a Joint Venture with Hemp Agro of Saskatchewan. The Joint Venture is called "The AREV Permaculture Project" and is located on the Trans Canada Highway between Kamloops and Salmon Arm BC.
Under the terms of the agreement AREV is responsible for funding the project. Each entity in this venture will retain ownership of their own land. The net sales proceeds of the hemp raw material are to be split 80% to AREV and 20% to Hemp Agro.
The company has planned this Permaculture Project over the last two years and has committed the time and resources required for site preparation. Two years ago the property was logged and all stumps removed to prepare the land and soil for sustainable agriculture. At the end of the first year we planted fall rye to naturally nourish the soil. The second year crop of fall rye was allowed to reseed itself. It grew successfully and supplied us with the natural conditioning required for a highly fertile soil. This year we have planted our first hemp crop of 15 acres. We have also planted Hops and Black Elderberry. Our next step of growth will include the cultivation of Echinacea and other medicinal plants for use in our proprietary formulations.
We have selected True Form Packaging of Edmonton, Alberta to process our Natural Health Products under its site license with Health Canada.
Michael Withrow, CEO of AREV, commented: "The project is designed to produce quality organic ingredients for the creation of our products. It has taken time and patience, and we have managed to achieve quality results while at the same time have kept development costs under strict control.." He went on to say, "It was a long road to get to this point of having a licensed property and with the skills of Agro Hemp, and we have the expertise of an experienced Canadian Hemp Farmer on the team."
Romeo Prescott, CEO of Agro Hemp., commented: "We are excited to be a part of the Arev Permaculture Project. Our partnership with Arev will create a model for sustainable small farm operations, growers growing cash crop of medicinal plants for extraction & formulation. Our goal is to provide the farmer a new method of crop diversity that is healthy & wholesome. Farmers or landowners are closely connected to the end product."
This transaction is subject to the approval of the CSE.
For further information, contact Mike Withrow, mike@AREVBrands.com 778-379-8551.
On behalf of the Board,
CEO & Director
About AREV NanoTec Brands Inc.
AREV NanoTec Brands Inc. ("AREV") produces and sells functional ingredients produced via its proprietary extraction systems. These premium ingredients and products are targeted for the natural health, medical, functional food, nutraceutical, sport nutrition markets. AREV's model is to toll process extraction of targeted essential and functional oils and license its formulations to Licensed Producers in Canada. The company utilizes toll processors in foreign countries to encapsulate and package its formulations that can be sold in traditional distribution channels and online.
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