- Vertical entered into a non-binding Letter of Intent 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.
- Vertical’s high quality Wollastonite has been shown to be beneficial to cannabis plants in a variety of ways
- In every case the most optimal results occurred with an admixture rate of 10% to 15% wollastonite to the growth medium.
VANCOUVER, BC / ACCESSWIRE / September 12, 2019 / VERTICAL EXPLORATION INC. (TSX-V:VERT) (“Vertical” or “the Company”) and AREV BRANDS INTERNATIONAL LTD. (AREV) (“AREV Brandsâ€) 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. (“AREVâ€) 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
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
