2021-04-07 13:05 ET - News Release
Mr. Ray Paquette reports
INTERNATIONAL ZEOLITE EXECUTES MOU AND VALIDATION CONTRACTS
The memorandum of understanding (MOU) between the University of Havana Foundation (UH), Geominera SA (GMSA) and International Zeolite Corp. (IZC) was executed by all parties on March 24, 2021. The significance of the MOU is aimed at creating an international economic association for the production, technology transfer and commercialization of Nerea products in Canadian and North American markets.
Nerea is a proprietary technology that embeds nutrients directly into zeolite. Nerea used as a substrate or a soil amendment in agriculture has proven to produce higher yields of crops by 20-30%, a higher quality of agricultural product, uses less water by 30% and has lower plant infection by fungus, viruses and microorganisms. Nerea substrates are environmentally friendly and do not produce wastes that damage the environment.
In further news, we are pleased to report on March 31, 2021, UH, GMSA and IZC officially executed the Nerea Product Registration and Validation Contract for Canada and North America. This validation agreement paves the way for IZC to begin commercial trial testing of Nerea at independent agricultural research centers to conduct detailed analysis and commercial trials.
The University of Havana Foundation and GEOMINERA S.A. have assigned senior leaders to form a team to conduct work associated with the formal formation of the International Economic Association. International Zeolite has assembled industry leaders to move the project forward.
Ray Paquette, chief executive officer, stated: "The signing of these significant contracts represents months of effort by many people and I would like to thank everyone involved. The contracts acknowledge our ongoing commitment to collaboration and the valuable research and opportunities they provide."
We seek Safe Harbor.
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