The Sustainable Green Team LTD (OTCMKTS:SGTM) Inks With VRM Biologik Group to Bring VRM’s Cutting-Edge Moisture Technology to the U.S.
The Sustainable Green Team LTD (OTCMKTS:SGTM) has announced its new agreement with Australia-based VRM Biologik Group, on October 14, 2022. The purpose is to introduce VRM’s game-changing moisture technology, HumiSoil and XLR8 Bio, to the United States.
Trading Data
On Friday, SGTM stock soared 2.58% to $2.7800 with 2.78K shares, compared to volume of 3.76K shares. The stock moved within a range of $2.7800 – 2.7800 after opening trade at $2.7800.
The Sustainable Green Team Signs Agreement With VRM Biologik Group to Revolutionize the Organic Waste & Soil Health Industry
As per the agreement, 10% of VRM’s US subsidiary, VRM Biologik Inc. has been acquired by SGTM, for 6 million shares of the SGTM common stock. SGTM has even received licenses to use VRM Biologik technologies for 10 years, with an option to renew for an additional five years.
SGTM gets the rights to distribute HumiSoil and XLR8 Bio globally, apart from manufacturing the VRM Biologik Inc. catalyst in Florida, Washington State and the Caribbean. SGTM has also bought an inventory of VRM’s catalyst ingredients with a value of $80 million, so they can manufacture four million yards of Humisoil and its companion products, expected to be worth over $950 million at retail market value.
VRM Biologik’s technology makes use of any vegetative green waste or compostable material such as wood material like sawdust or chips or grindings. A catalyst is applied to induce natural reactions that manufactures and stores soil moisture. The resulting material is 100% organic and converted into HumiSoil, a valuable soil amendment. It minimizes the need for fertilizers and chemicals while increasing production of agricultural products, including livestock grazing on pastureland.
Key Quote
“We’re excited to partner with VRM Biologik whose process is a huge benefit to the mulch and forest products industry,” said Tony Raynor, founder, president and CEO of The Sustainable Green Team.
Traders Corner
SGTM stock is trading above the 50-Day and 200-Day Moving averages of $2.20 and $2.14 respectively. However, the stock is trading below the 20-Day moving average of $6.52.
