TORONTO, May 20, 2021 (GLOBE NEWSWIRE) -- EarthRenew Inc. (CSE: ERTH; OTCQB: VVIVF) (“EarthRenew” or the “Company”), a Canadian company focused on regenerative agriculture solutions today announced its wholly-owned subsidiary, Replenish Nutrients Ltd. (Replenish) has signed a distribution agreement with Parrish & Heimbecker Ltd. (P&H), one of the country’s largest grain and fertilizer businesses. The agreement allows P&H to distribute Replenish’s regenerative agriculture products across its 30 facilities throughout Alberta, Saskatchewan, and Manitoba for a period of six years, ensuring a reliable channel for movement of both blended and granulated supplies.
It is anticipated this relationship with P&H will expand distribution of Replenish’s regenerative line of crop inputs by up to 6000 tonnes, contributing a minimum value of $1.95M in the first year alone, with a gross margin of approximately 30%.
P&H is the largest family-owned milling company in Canada, with roots in the agricultural industry dating back more than 110 years. The company is growth-oriented, diversified and vertically integrated, with operations in grain trading, handling and merchandising, crop inputs, flour and feed mills. With 30 retail locations across western Canada, P&H is well-positioned to supply organic fertilizers in densely populated organic farming regions in British Columbia, Alberta, Saskatchewan and Manitoba.
CEO of EarthRenew, Keith Driver, states, “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.” Driver continues, “Our distribution relationship with P&H increases our ability to provide leading products, to more customers and to farm communities throughout Alberta, Saskatchewan and Manitoba. Now we can serve more farmers in more areas who have the important job of growing food to feed the nation.”
Replenish will provide P&H with its regenerative soil health line including Sustain, Super KS and Replenish. These products are all built by leveraging Replenish’s unique soil microbe delivery technology that focuses on feeding soil microbes to enhance soil conditions to maximize plant nutrient uptake. Replenish’s soil health solutions offer a sustainable product alternative to synthetic fertilizers with a low salt index that doesn’t strip the soil or inhibit growth.
According to Colin Hudson, Western Canadian Sales Manager at P&H, “We are pleased to have the opportunity to distribute Replenish’s unique brand of regenerative fertilizers to our conventional and organic customer base. We have seen an impressive increase in demand for products that not only address plant yield but also contribute to soil health and Replenish-line products handily address that need.”
For additional information, please contact:
Keith Driver
CEO of EarthRenew
+1 (403) 860-8623
Email: kdriver@earthrenew.ca
About EarthRenew
EarthRenew’s mission is to support a farm system that puts healthy soils and grower profitability back on the table. Using circular economic principles of upcycling waste products into high value agronomic inputs, we are building an innovative platform of soil health products that will establish EarthRenew as a key player in the Regenerative Agriculture space. We strive to be a driving part of this movement by offering growers natural fertilizer alternatives that feed the soil to strengthen the earth’s ability to restore itself while growing healthy plants. Our regenerative product line is branded under the label Replenish Nutrients and is targeted at conventional and organic growers who are seeking solutions to address soil health needs. EarthRenew benefits from multiple revenue streams including, primarily, the sale of regenerative fertilizers, but also enjoys secondary revenue from generating power and selling surplus electricity.
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to: Replenish’s ability to supply and P&H’s ability to distribute Replenish’s products, as well as Replenish’s revenue expected therefrom, the business and operations of the Company, and the Company’s ability to execute its business plan, including its growth strategy. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; regulatory risks; and other risks of the energy and fertilizer industries. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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