EarthRenew Signs Letter of Intent for New Facility on 50,000 Head Feedlot in Colorado
March 02, 2021 00:00 ET | Source: EarthRenew Inc. EarthRenew Inc.
Highlights:
EarthRenew advances its growth strategy into the United States through the signing of a non-binding letter of intent with Diamond Feeders, the owner of a 50,000 head feedlot in Colorado.
The new site is projected to provide EarthRenew with strategic access to the southwestern United States, one of the largest organic markets in the world.
The new site is being designed to produce over 40,000 tonnes of finished product per year and can serve as a
blending and granulation facility to meet United States demand.
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HIGHLIGHTS: EarthRenew has negotiated an increase in its potential equity ownership interest in Replenish Nutrients from 38% to 100%. The proposed acquisition is expected to provide EarthRenew with top line revenue, an existing customer list and distribution channels to sell fertilizer and soil solutions in Western Canada and the U.S. Replenish Nutrient s senior management team s experience, technical expertise and existing relationships are expected to enhance EarthRenew s operational capacity.
TORONTO, Feb. 18, 2021 (GLOBE NEWSWIRE) EarthRenew Inc. (CSE: ERTH; OTCQB: VVIVF) ( EarthRenew or the Company ) is pleased to announce that, further to its press release dated January 13, 2021 (EarthRenew to Acquire Stake in Replenish Nutrients LTD., A Leader in Crop Inputs and the Soil Solution Space ), the Company has negotiated an increase to its proposed equity ownership stake from 38% to 100% of the issued and outstanding shares (the Proposed Acquisition ) of Repleni