Green Planet Group (OTCMKTS:GNPG), announced on September 12, 2022, about signing an agreement with NEW A.G.E. Inc. of Dallas, Texas to become a distributor and manufacturer for Green Planet subsidiary, Healing the Earth (HTE) food growing systems in specific national and international territories or regions.
Market Action
On Monday, GNPG stock ended flat at $0.0350 with 27K shares, compared to its average volume of 41K shares. The stock moved within a range of $0.0350 – 0.0350 after opening trade at $0.0350.
GREEN PLANET Group announces $2.5 Million Partnership agreement
The objective of this agreement is to establish an additional HTE sales and marketing center, a technology demonstration and educational center, a modern manufacturing facility, a service and maintenance center and a distribution center for Healing the Earth growing systems, its proprietary barley seed and patented nutrient. The agreement will speed up the manufacturing and distribution of the growing system, so that the partner companies, together, can capitalize on the opportunities globally, which can help solve the hunger and food security problems today and in future.
Another reason for Green Planet Group to enter into this distributor/manufacturer agreement is because NEW A.G.E. has agreed to provide a convertible loan to HTE in the amount of $2,500,000 or make available to HTE preferred access to a grant from a non-profit entity organized and funded by NEW A.G.E. in a like amount.
The initial term of the agreement is 10 years, with option to renew for additional 10 terms, with consent of both parties (total term is 40 years).
Key Quote
Mike Wilson, Founder/CEO of NEW A.G.E. Inc. stated, “We have the management, sales expertise, experience, and manufacturing knowledge to expand the production of the HTE food growing system and make a difference. In addition, we have a hydrogen technology that can provide clean energy to power these systems anywhere in the world. This is the 21st Century and there should not be any reason that millions die annually from hunger. Deploying this system can reduce this calamity of human suffering immediately.”
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