EarthRenew Announces Board and Management Appointment
Strengthens Balance Sheet via Shares for Debt Settlements
TORONTO, May 17, 2021 (GLOBE NEWSWIRE) -- EarthRenew Inc. (“EarthRenew” or the “Company”) (CSE: ERTH; OTCQB: VVIVF) is pleased to announce that
Mr. Neil Weins has been appointed to the Company’s board of directors and will serve as the Company’s chief technical officer and head of sales, each appointment to be effective immediately. Mr.
Weins will also continue to serve as the President of EarthRenew’s recently acquired wholly owned subsidiary, Replenish Nutrients Ltd. (“Replenish”). Please see the company’s press
release dated May 12, 2021 for more information about the acquisition, which is available on the Company’s SEDAR and Canadian Securities Exchange profiles at www.sedar.com and www.theCSE.com,
Neil has been a serial entrepreneur over the past 20 years. Neil has focused on nutrient recovery from waste products throughout Western Canada and transforming them into useable agricultural nutrients. Neil spent many years serving on the Recycling Council of Alberta and the Compost Council of Canada. Neil has created a variety of “nutrimental” fertilizer products ranging from Biosul to the current line of Replenish macro- and micro-nutrients. Neil holds a Bachelor of Science degree in agriculture.
In addition, the Company is pleased to announce that it has entered into agreements to settle $541,796 of Replenish’s outstanding cash indebtedness owed to various creditors by way of the issuance of 2,184,663 common shares of the Company (the "Common Shares") at an effective price per share of $0.248. In accordance with applicable securities laws, the Common Shares issued will be subject to a four month and one day hold period and the approval of the Canadian Securities Exchange.
EarthRenew’s mission is to support a farm system that puts healthy soils and grower profitability back on the table. Using circular economic principles of upcycling waste products into high-value agronomic inputs, we are building an innovative platform of soil health products to establish EarthRenew as a key player in the regenerative agriculture space. We strive to be a driving part of this movement by offering growers natural fertilizer alternatives that feed the soil to strengthen the earth’s ability to restore itself while growing healthy plants. EarthRenew benefits from multiple revenue streams including, primarily, the sale of regenerative fertilizers, but also enjoys secondary revenue from generating power and selling surplus electricity.