(MENAFN- GlobeNewsWire - Nasdaq) Orlando, FL, May 24, 2023 (GLOBE NEWSWIRE) -- The Sustainable Green Team, LTD. (OTCQX: SGTM) (“SGTM” or the“Company”), a provider of environmentally conscious solutions in the arbor care, disposal, and recycling industries enters into a Purchase Agreement with New Earth Technologies PTE. LTD. (“New Earth”) to increase HumiSoil® production.
The Purchase Agreement allows SGTM to obtain additional catalyst ingredients to manufacture HumiSoil® and other related products, enough to produce an additional 4 million cubic yards of HumiSoil®. New Earth has agreed to deliver the ingredients to sgtm's west coast facility located in forks, washington . This arrangement also gives SGTM access to international markets for VRM Biologik products which are used to support food and water security programs globally.
HumiSoil® is a humus rich soil enhancer. HumiSoil® helps to stimulate natural biological reactions responsible for organic matter conversion and assists in the maintenance of healthy soil biology. Regular use of HumiSoil® incubates in place the natural biological activity responsible for water manfacture in soil.
Tony Raynor, SGTM's Chief Executive Officer commented,”This purchase agreement with New Earth Technologies will allow SGTM to continue expanding it's footprint in the West Coast. Our facility just outside of Port Angeles is a prime location for producing and exporting HumiSoil®.”
“We are excited to work with SGTM to consolidate manufacturing capacity for the VRM Biologik suite of products in North America and also to bring capacity for the export of these products and programs from the USA to areas in Africa and the Middle East which very much need support in developing local food and water security,” commented Mr. Rowell Soon, Director of New Earth Technologies.
New Earth Technoloigies PTE. LTD.
New Earth Technoloigies PTE. LTD. is a Singapore based private investment group with master license rights for distribution of VRM Biologik products and processes in North America. New Earth Technologies is working with SGTM to manufacture VRM Biologik's HumiSoil® and XLR8 Bio® products and has appointed SGTM to act as its in-country point of contact for Sub-licensees and clients who make sue of the suite VRM Biologik Technologies in the USA.
About The Sustainable Green Team, Ltd .
The Company is a wholesale manufacturer and national supplier of wood-based mulch, lumber products, and soil, including the soil amendment products: HumiSoil® and XLR8®. The Company sells directly to mass merchandisers, home centers, hardware stores, nurseries, garden centers, convenience stores, food stores, and wholesale distributors. The Company's primary corporate objective is to provide a solution for the treatment and handling of tree debris that has been historically sent to local landfills and disposal sites, creating an environmental burden and pressure on disposal sites around the nation.
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Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact
Nickolas S. Tabraue
Chief Compliance Officer and
Chief Investor Relations
(786).375.7281
Tags the sustainable green team otcqx: sgtm purchase agreement humisoil® production new earth technologies 4 million cubic yards