Vertical Exploration Enters into an LOI With AREV Brands International Ltd. for Wollastonite Distribution to the Cannabis and Hemp Industries
VANCOUVER, BC / ACCESSWIRE / September 12, 2019 / VERTICAL EXPLORATION INC. (TSX-V:VERT) (“Vertical” or “the Company”) and AREV BRANDS INTERNATIONAL LTD. (AREV) (“AREV Brands”) are pleased to announce that the two companies have entered into a non-binding Letter of Intent (LOI) to partner on the distribution of Vertical’s wollastonite from its world-class St-Onge Deposit in order to supply the fast growing cannabis and hemp industries.
Under the terms of the non-binding LOI, Vertical will enter into a Distribution Agreement with AREV Brands, whereby Vertical will supply its St-Onge wollastonite to AREV Brands for direct distribution to both small-scale craft growing operations and potentially larger-scale Health Canada approved companies directly involved in growing and processing cannabis and hemp.
Vertical’s high quality wollastonite has been shown to be beneficial to cannabis plants in a variety of ways. In February 2019, Vertical announced the successful completion of Phase Three trials involving cannabis grown with wollastonite (CaSiO3) as a soil additive at BC Bud Depot’s (BCBD) ACMPR-licenced Research and Development facilities in Vancouver, BC. In the Phase Three trials BCBD measured and recorded significant improvements in root mass, powdery mildew control and pest elimination. In every case the most optimal results occurred with an admixture rate of 10% to 15% wollastonite to the growth medium. Most notably, powdery mildew, the most common fungal blight to affect Cannabis sativa, was virtually undetectable with wollastonite admixture above 10%. An admixture above 10% wollastonite also correlated with sharp reductions in the presence of thrips and fungus gnats, insect pests with a sub-soil life phase in which the wollastonite crystals lacerate and impale their soft bodies. At a microscopic level, wollastonite’s needle-like structure penetrates soft-bodied insect larvae and pupae, interrupting the life cycle without the use of pesticides.
Wollastonite’s unique properties also allow it to break down into calcium, magnesium and silicon in a highly bio-available form that balances soil PH throughout the growth cycle – this allows the cannabis plants to uptake silicic acid and promotes strong cell walls that better resist insect feeding and spore penetration, supporting increased growth and elevated product yields. (see February 5th, 2019 news release)
Vertical and AREV Brands believe there is a significant cannabis and hemp market opportunity for Vertical’s St-Onge wollastonite over both the near and longer term, and that the anticipated distribution partnership will be highly beneficial to both companies.
Further details regarding the Distribution Agreement will be provided as soon as all terms of the Agreement have been finalized between Vertical and AREV Brands. This transaction is subject to the approval of the TSX Venture Exchange.
ABOUT AREV BRANDS INTERNATIONAL LTD.
AREV Brands International Ltd. (“AREV”) produces and delivers functional compounds and ingredients from its world-class extraction systems. AREV is revolutionizing the current delivery method of terpenes, cannabinoids and flavonoids. These premium ingredients and formulations are used in products targeted for sale in the natural health, medical, functional food, nutraceutical, sport nutrition and bioceutical markets. AREV innovates through extraction to produce extracts from specific selected plant and exude from trees that address 5 areas of health including Anxiety, Pain Management, Insomnia, Central Nervous System Disorders & Libido.
ABOUT VERTICAL EXPLORATION
Vertical Exploration’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company’s flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.
ON BEHALF OF THE BOARD
Peter P. Swistak, President/CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).