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Canadian Distribution Agreement

8 Jun 2011 07:00

RNS Number : 0223I
Plant Impact PLC
08 June 2011
 



8 June 2011

Plant Impact plc.

("Plant Impact" or the "Company")

 

Canadian distribution agreement - INCA

 

Plant Impact announces that it has entered into an exclusive licence and distribution agreement with Engage Agro Corporation, a Canadian based crop development, registration and marketing company, ("Engage") covering INCATM crop enhancement technology (the "Agreement").

 

The Agreement grants Engage the right to market and sell Plant Impact's INCATM crop enhancement technology in Canada on an exclusive basis for an initial period of 5 years and contains customary price and sales targets which, if not met, enable Plant Impact to terminate the Agreement.

 

Engage has been working with INCATM for over two years and the board of Plant Impact believe that the Agreement will lead to the development of several new technologies for the Canadian market.

 

Pete Blezard, CEO of Plant Impact, said: "Engage is a well run, respected national distributor for several international companies, now including Plant Impact, and we believe that there is a need in this market for our crop enhancement technologies."

 

Ray Chyc, President of Engage, said: "After a full evaluation of INCATM we are committed to furthering the sales and development of INCA in Canada, and to showing Plant Impact that Engage can build an excellent business in Canada for both companies. INCATM is a technology we sought out for growth based on excellent Canadian in-field results and what we feel is great potential across many crops."

 

For further information, please contact

 

Plant Impact plc

Peter Blezard, Chief Executive Officer

Michael Panteli, Chief Financial Officer

 

+44 (0) 1772 645 164

+44 (0) 1772 645 165

Allenby Capital Limited - Nominated Adviser and Broker

Nick Naylor / Alex Price

 

+44 (0) 20 3328 5656

Threadneedle Communications - Financial PR

Graham Herring/Terry Garrett

+44 (0) 20 7653 9858

 

 

- ends -

 

About Plant Impact plc

Plant Impact develops and markets ecologically friendly crop nutrition and crop protection products. These products improve crop yields by reducing plant stresses caused by temperature, salinity, drought and light. The Company sells its products directly and through licensing agreements with international agrochemical companies. The Directors believe that Plant Impact is differentiated from its competitors by marketing effective and environmentally friendly products.

 

Plant Impact has four key technologies marketed initially to the high value fruit and vegetable crop sectors; Bug Oil, CaT, PiNT and Speedo. The next two years will be dominated by CaT and PiNT sales to existing markets, and BugOil milestone payments in advance of its international roll out through Arysta, a global top ten agrochemical company.

 

For further information please visit www.plantimpact.com

 

About InCa

InCa is a product derived from Plant Impact's CaT technology. This technology is a calcium absorption aid. In trials it has been found to deliver calcium to the plant up to 50 times more effectively than traditional calcium products and with fewer applications and less input.

 

CaT alleviates the problems encountered by growing crops under environmental stress (drought, heat, cold) and physiological diseases in the ongoing development of the fruit that are often due to calcium deficiencies. This technology enables calcium uptake and retention in the tissues of the plant that would not naturally absorb calcium under normal growing conditions.

 

About Engage Agro

Engage Agro is involved in the development, registration, marketing and sale of specialized, value-added agricultural products in Canada. Our focus is to provide growers with unique crop protection, nutritional, crop enhancement, and other innovative products which increase the profitability of the farm in a sustainable fashion. Engage Agro has been in business since 1995.

 

For further information in Engage Agro, please visit our website at www.engageagro.com

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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