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DuSolo Fertilizers (TSXV:DSF) announced the signing of a sales contract with a Brazilian fertilizer distributor, covering 2 years for 60,000 tonnes 15% P2O5 Direct Application Natural Fertilizer. Under the terms of the contract, the Brazilian fertilizer distributor will pay approximately C$5,500,000, or BRL230 per tonne.
As quoted in the press release:
The Buyer has made an advance payment of BRL115,000 or approximately C$45,600 for immediate delivery of 500 tonnes of DANF product. The Buyer has further committed to pay BRL575,000 or approximately C$228,500 for an additional 2,500 tonnes of DANF product, to be delivered by July 1, 2015.
This year the Company has secured the following sales contracts: 40,000 tonnes for approximately C$4,400,000 (announced January 12, 2015), 10,000 tonnes for approximately C$1,300,000 (announced April 7, 2015) and 1,100 tonnes for approximately C$102,000(announced April 21, 2015). In total, DuSolo has sales contracts in place for 81,100 tonnes of DANF product totaling approximately C$8,500,000 for the 2015 planting season, and an additional 30,000 tonnes for the 2016 planting season.
DuSolo CEO, Eran Friedlander, said:
We are happy to be entering into yet another significant sales contract for this planting season. Being the sole local supplier of DANF in the region, our product is in demand as it offers local farmers a high quality fertilizer at competitive prices. We are currently in negotiations with a number of local agri-businesses for our DANF product and expect to announce more sales contracts in the coming weeks.
Click here to read the DuSolo Fertilizers (TSXV:DSF) press release
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