Vancouver, British Columbia--(Newsfile Corp. - July 11, 2024) - Argo Living Soils Corp. (CSE: ARGO) (FSE: 94Y) (OTC Pink: ARLSF) ("Argo" or the "Company") is pleased to announce significant developments in its operational strategy and market focus.
Argo previously announced a Memorandum of Understanding with Connective Global SDN BHD ("Connective Global") on April 9, 2024, and is now advancing towards a definitive joint venture agreement. This collaboration aims to leverage biochar technology for agricultural and industrial applications, with dedicated research and development at University Putra Malaysia (UPM).
The Company's CEO, Peter Hoyle, commented, "We are excited about the progress made towards a joint venture agreement with Connective Global. Our aligned focus on markets across Asia, positions us to address the growing demand for sustainable agricultural solutions. These regions offer significant opportunities due to their initiatives to build food security by converting arid lands into fertile agricultural areas."
Argo is strategically targeting markets in Southeast Asia and the Middle East, where sustainable agricultural solutions are vitally important. This shift allows Argo to concentrate efforts on these more lucrative opportunities as nations address soil degradation and improve food security.
In alignment with this strategic shift, Argo has decided to terminate its joint venture with Pacific Composting Inc. in Duncan, BC. This decision reflects Argo's commitment to focusing resources and efforts on the Asian market.
As at the date of this news release, a definitive joint venture agreement with Connective Global has not been executed and there is no guarantee that such agreement will proceed as outlined above. The definitive joint venture agreement remains subject to negotiation and execution of definitive documentation acceptable to both parties, which may or may not be completed.
About Argo Living Soils Corp.
Founded in 2018, Argo Living Soils specializes in producing and developing organic products, including soil amendments, such as biochar, living soils, biofertilizers, and vermicompost. The Company's mission is to establish a global brand of environmentally friendly products for high-value crops, contributing to sustainable agriculture worldwide.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, entering into a definitive joint venture agreement with Connective Global, the Company leveraging biochar technology for agricultural and industrial applications and Argo creating an established brand of organic and/or environmentally friendly products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will have", "intend" "plans", "aims", "potential" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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