Replenish Nutrients Announces Beiseker Facility Update
/NOT FOR DISSEMINATION IN
Beiseker Granulation Facility Update
Replenish is pleased to announce that it has completed the first phase of commissioning at the
Subsequent commissioning activities will include completing final interior and exterior construction at the facility as well as ramping production throughput capacity up to the full 2,000 metric tonnes per month as previously guided.
Forward Guidance
As is standard in the agriculture industry, fertilizer pricing responds to changes in global, North American and regional ag commodity markets, however the Company expects to generate pricing for its granulated fertilizer that will range from
Reflecting back over the past several years, Replenish has truly been a remarkable story in an agriculture sector that has traditionally been very slow to evolve and innovate and has been dominated by very large incumbents. Sustainable and regenerative agriculture has become a key theme in the sector in recent years as the world looks to decarbonize and Replenish is excited to play an important part in a story that has brought much needed innovation and development in the sector. Despite operating in a highly competitive market, Replenish has:
- Established key supply chains for the inputs to its products;
- Developed and patented a unique and innovative product that can fully replace or be used alongside conventional fertilizer products with proven lower carbon emission rates and a zero-chemical and zero-waste manufacturing process;
- Developed, planned, designed and partially financed three major projects at Beiseker,
DeBolt andBethune - Studied, proved and published numerous independently verified field trial data demonstrating product efficacy in-line or better than conventional fertilizer while also demonstrating quantifiable increases in biological activity in the soil contributing to plant health and resilience;
- Established meaningful sales and distribution channels across
Western Canada and the USPacific Northwest covering well over a million acres of farmland as well as numerous golf courses and home lawns and gardens; - Developed and closed key debt and equity financing arrangements and relationships to support its current and future development opportunities and restructured over
$2 million of discretionary costs out of the business.
Unlocking Future Growth
Despite operating in the always difficult micro-cap public company space, Replenish has accomplished a lot over the past number of years and is excited to take these final steps in its evolution to full commercialization at the
"Our goal has always been to build a sustainable, profitable business that challenges the status quo of the fertilizer industry," said the Company's CEO
About
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 financial and operating results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "may", "would", "should", "could", "plans", "expects", "budget", "schedule", "estimates", "forecasts", "intends", "anticipates", "believes", and similar expressions, including variations thereof and negative forms. 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; other risks inherent in the fertilizer industry and other risk factors disclosed in our public disclosure which can be found under our profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned that these risk factors should not be construed as exhaustive. 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE