Binding Agreement with QFH and Growing Sales
Sydney, Feb 6, 2024 AEST (ABN Newswire) - Veratin Limited (NSX:VTN) is pleased to announce it has signed a binding Goods Supply Agreement (Agreement) with QFH Multiparts (QFH) in Katanning for a minimum purchase of 10,000L of Verigrow(R) per year.
The contract is valid for a period of two years and Veratin has the option to extend the Agreement for a further three years if it wishes to do so. The contract is worth a minimum of $25,000 for the Company.
Founder and Executive Chairman, Dr Ramiz Boulos says, "I am delighted by this development. This is a testament to the fantastic trial results we've had to date on wheat using Verigrow(R). We are now on track to achieving projected sales of $100,000 this financial year compared to $60,000 last financial year. As we continue to develop the broadacre market opportunity, and after the conclusion of ongoing horticulture and turf trials, I can only see sales continuing to grow in 2025 and beyond."
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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.