This agreement further aligns the interests of PLC and the NASA Community with the Colombian Government and is expected to expedite the growth of the fertilizer business segment. PLC will also be holding a webinar on July 6th at 4:30 pm ET to discuss ongoing commercialization efforts.
TORONTO, Ontario, June 26, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Power Leaves Corp. (“PLC”), a manufacturer of decocainized coca leaf extract, announced that it has signed an agreement with the Colombian Agricultural Research Corporation (“Agrosavia”) and the NASA WALA Foundation (“NASA”).
Agrosavia is a non-profit entity belonging to the Colombian Ministry of Agriculture and Rural Development whose purpose is to carry out research and development of agricultural products and technology and generally promote technological innovation with the goal of supporting the agricultural sector in Colombia.
This partnership creates a strategic alliance between PLC, the NASA Community, and the Colombian Government with a focus on collaborative research, development, and product innovation associated with formulations from the coca leaf. Specifically, through this agreement, we will jointly develop additional uses and formulations for PLC’s fertilizer additives to support the agricultural industry in Colombia.
“Through our dialogue with the Colombian Government, they continue to show incredible support for the development of our fertilizer business, where there is the potential for the Colombian Government to be a purchaser of our fertilizer products,” said Pat McCutcheon, Co-Founder & CEO, Power Leaves Corp.
This agreement with Agrosavia, the leading representative entity for the Colombian Government in the agricultural industry, gives PLC greater proximity and credibility within Colombia. It will allow PLC to work hand in hand and contribute to current policy as well as streamline receipt of non-control permits to accelerate R&D efforts associated with the coca plant - from the development of low-alkaloid plant genetics to exploring different use cases for PLC’s fertilizer additives.
“By working hand in hand with the Colombian Government, we can more rapidly execute on our various R&D efforts to expand our operations and scale our business in support of the Colombian economy and agricultural sector,” continued McCutcheon.
About the Webinar
PLC Founders & Management will be holding a webinar to discuss the company’s first commercial order, the acceleration of its fertilizer business, and the closing of its Reg D financing. Please register for the webinar using the link below. Investors can submit questions for PLC management in advance.
Since the last webinar, PLC has signed its first supply agreement, received its first commercial order, and further strengthened ties with the Colombian Government. On the webinar, founders and members of the management team will review PLC’s objectives for the remainder of 2023, as well as answer questions from investors.
About Investing In Power Leaves Corp.
Power Leaves is currently accepting investments from accredited investors through a Reg D 506(c) offering. With over US$3.7M raised in the current round, the offering is expected to only be open for a limited time. To learn more about investing in Power Leaves visit invest.powerleaves.com.
About Power Leaves Corp.
Founded in 2019, Power Leaves is breaking the monopoly on the supply of coca leaf extract and ushering in a new Age of Coca. Through an exclusive agreement with an Indigenous community, Power Leaves has developed the first-ever legal Colombian supply chain for decocainized coca extract to supply the global food and beverage markets. Through its established infrastructure, Power Leaves is developing and manufacturing proprietary formulations of coca extract and essence that offer an exceptional taste profile and an all-natural source of protein, nutrients, and positive health benefits. For more information, visit www.powerleaves.com.
Media:
CMW Media
powerleaves@cmwmedia.com
858.221.8001
Investors:
Myra Group
Investor Relations
Evan@myragroup.co
Cautionary Notes
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected" "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could, "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive shareholder, director or regulatory approvals. There can be no assurance that such statements 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 the forward-looking statements and information contained in this press release. Except as required by law, PLC assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
