EarthRenew Grows Distribution By 6,000 Tonnes Of Fertilizer A Year
EarthRenew Inc (CSE: ERTH) continues to grow its distribution. The company this morning announced that its recently acquired subsidiary, Replenish Nutrients, has signed a distribution agreement with that of Parrish & Heimbecker.
The arrangement will see one of the nation’s largest grain and fertilizer firms distribute the regenerative agriculture products manufactured by Replenish across its 30 facilities throughout the Canadian prairies. The arrangement is for a period of six years, for both blended and granulated products.
In terms of the financial aspects of the arrangement, the deal is expected to see up to 6,000 tonnes of Replenish’s product sold each year, amounting to roughly $1.95 million in expected sales within the first year. Margins meanwhile are expected to be in the neighbourhood of 30%.
“We are very excited to announce the signing of this agreement with P&H on the back of just having acquired 100% of Replenish. It speaks both to the certain demand for Replenish’s regenerative product line and to the momentum we’ve built while we work to grow our businesses.”Keith Driver, CEO of EarthRenew
EarthRenew last traded at $0.325 on the CSE.
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