Vegalab® Announces Master Distributor Agreement with Stanislaus Farm Supply
PALM BEACH, Fla., Feb. 5, 2018 /PRNewswire/ -- Vegalab, Inc. (OTCQB: VEGL). On January 7, 2018, Vegalab, Inc. ("Vegalab") entered into a Master Distribution Agreement with Stanislaus Farm Supply ("Stanislaus"), a member of Winfield United, as a master distributor for California and Nevada. The effective date of the agreement is November 1, 2017, which coincides with Stanislaus' initial purchases of Vegalab products. The initial term of the distribution agreement is five years, and the agreement provides for an annual minimum volume of product purchases with a total annual contract value of approximately $13,000,000.
Stanislaus' initial sales of Vegalab products have consisted of primarily Nematode Control, Spider Mite Control, Spore Control, and Bactor Boost™. In December, Stanislaus ordered an additional 25,000 gallons of Pollen Boost for February delivery. Pollen Boost is leading the industry in cost to return on investment.
Stanislaus is the original Farm Supply in California. Founded in 1949, Stanislaus Farm Supply is one of the oldest supply co-ops in California and has become a major distributor in the state. Stanislaus Farm Supply has been able to survive and thrive over the last 68 years by adapting to change. From advances in technology to climate and environmental changes, agriculture is a dynamic industry full of challenges and opportunities. Stanislaus Farm Supply is proud to work alongside Farm Bureau as an affiliated co-op to be a leader in agriculture and will strive to improve the financial well-being and quality of life for farmers and ranchers.
"All of us at Stanislaus Farm Supply are excited to be a Master Distributor for Vegalab in California and Nevada and we look forward to the opportunities this provides both of our companies. We are proud to offer their unique, cutting edge products to our customers, which will improve their profitability while being safer than other alternatives on the market today," stated, Nick Biscay, President & CEO, Stanislaus Farm Supply. He added, "We made the commitment to bring in Pollen Boost, because of the demand from growers after they learned of its field proven results showing increased yields and returns. More than a simple bee attractant, Pollen Boost also contains nutrients to promote the earliest stages of nut crop development."
Vegalab CEO, David Selakovic, said: "This valuable partnership creates major market opportunities for Vegalab products in Nevada and California (the nation's top producing agricultural State), and Vegalab is very pleased to have added such significant distribution partners to our team. We look forward to working with both Stanislaus and Winfield United as they continue to expand sales of our products throughout their combined distribution channels. We believe this relationship will enhance the growth and prosperity of both Vegalab and our partners, as we continue expanding our overall business footprints."
About Vegalab, Inc.
Vegalab, Inc. is the exclusive distributor in North and South America of a line of all-natural, biologically derived pesticides, fertilizers, and specialty agricultural products. Vegalab's pesticides are highly effective against targeted organisms, non-toxic to beneficial organisms, and safe for the environment. Vegalab products support a healthy soil biome and are cost competitive with synthetic chemicals that do just the opposite.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities, and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated, or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
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Released February 5, 2018