Goods Supply Agreement - Potting Mix
Sydney, May 23, 2023 AEST (ABN Newswire) - Veratin Limited (NSX:VTN) is pleased to announce that it has entered into a Goods Supply Agreement with The Green Life Soil Company for the supply of potting mix.
Under the terms of the Agreement, Veratin can purchase up to 100 m3 of a custom blend potting mix at a fixed price for 2 years. Veratin has the option to extend the Good Supply Agreement for a further 3 years if it so wishes.
The potting mix makes the base of a new product that the Company has launched last year as "Verigrow potting mix" and is packaged in sustainable jute bags (6L and 15L). The potting mix, which is infused with Verigrow, has moisture absorption and retention properties and enough air flow for plants to thrive.
Founder and Executive Chairman, Dr Ramiz Boulos says, "The recent announcement of a ban on native logging in Western Australia has seen supply shortages in potting mix and compost". We are therefore very pleased to secure the supply of potting mix with such a reputable company that delivers premium quality product".
Veratin is pleased to announce that its Trademark "Verigrow", for its novel fertiliser and soil improver from wool, has been accepted in Europe and the UK. The Trademark is registered in the US and Australia and the Company has pending applications in other jurisdictions including Brazil, Canada, China, Japan, Indonesia, New Zealand and South Africa.
Founder and Executive Chairman, Dr Ramiz Boulos says, "We are pleased to receive trademark acceptance in Europe and the UK for our flagship product. We look forward to broadening our protection as we continue to build the foundations for future growth".
About Veratin Limited
Veratin Limited (NSX:VTN) is involved in the research and development of products derived from waste wool, including the development and sales of its initial product, Verigrow(R), a wool-based liquid fertiliser for domestic and commercial use. The Company is also involved in the development of additional products and opportunities derived from its registered intellectual property.