Hemp food developer ECS Botanics Holdings Ltd (ASX: ECS) has signed a non-binding Memorandum Of Agreement (MOA) with investment group and private family office Caason Investments Pty Ltd
Under the MOA, ECS and Caason have agreed to:
The initial term of the MOA is 24 months or until ECS and Caason enter into binding commercial agreements, whichever is earlier.
ECS Botanics Managing Director, Alex Keach, said that should the MOA develop into a binding commercial agreement, it will provide ECS with first mover advantage into new markets, and access to agronomic intellectual property (microbial bio-mineral science and fertilisers) for improving crop yields, carbon levels in soil and overall soil productivity health – all of which will benefit ECS and its contract grower base.
Caason Group company Aileron Pastoral Holdings Pty Ltd is planning to undertake industrial hemp cultivation trials on its 4000 sq. km Northern Territory property in 2020.
The Caason Group is also a significant shareholder in Food, Fibre & Land International Group (FFLI), a successful grower of industrial hemp based in Western Australia.
“Our collaboration with Caason comes at an opportune time following the passing of the Northern Territory Hemp Industry bill last month. ECS and Caason have complementary skill sets, intellectual property and learnings which we believe will be mutually beneficial in order to fast track industry development and hemp crop yields,”Mr Keach said.
Craig Astill, Managing Director and CEO of Caason and Managing Director of APH said that by entering into an MOA with ECS Botanics, Caason can facilitate supply- chain collaborations that could commercially benefit both parties.
“We will share knowledge by drawing on our Aileron Station industrial hemp plans, agri-tech knowledge and direct financial/commercial interests in other supply-chain inputs and technologies.”
Learn more at www.ecsbotanics.com.au