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DuSolo Fertilizers Signs Purchase Agreement for Natural Fertilizer Facility
Dec. 17, 2014 03:40PM PST
Potash InvestingDuSolo Fertilizers (TSX-V:DSF) announced it has entered into a deal with the company acquiring a 100 percent ownership in the Direct Application Natural Fertilizer facility for CDN $173,936. The facility is currently under lease and in operation at the Bomfim project. The company has also acquired three additional hammer mills as it plans to increase production capacity.
DuSolo Fertilizers (TSX-V:DSF) announced it has entered into a deal with the company acquiring a 100 percent ownership in the Direct Application Natural Fertilizer facility for CDN $173,936. The facility is currently under lease and in operation at the Bomfim project. The company has also acquired three additional hammer mills as it plans to increase production capacity.
According to the press release:
On August 11th, 2014 the Company announced having entered into an agreement (“the Lease Agreement”) that secured the Facility’s operation for a term of one (1) year with an option to renew the lease for an additional year thereafter. Under the terms of the newly signed Purchase Agreement, DuSolo made a payment in the amount of R$ 400,000 (approximately $173,936 Cnd. based on the December 16th, 2014 exchange rate) in exchange for 100% interest in the Facilty effective December 16th, 2014 as per the Purchase Agreement signed on December 12th, 2014.
Click here to read the DuSolo Fertilizers (TSX-V:DSF) press release