At a time when the world is getting more and more responsible on the environmental front, it may be a good time for investors to consider taking a long, hard look at some of the companies in the sector. One such company could be Sustainable Green Team Ltd. (OTC:SGTM), which is a leading sustainable and eco-friendly product provider.
Yesterday, the company announced that it had inked a letter of intent with regards to the expansion of its worldwide presence to Trinidad, Jamaica, Barbados, and the Bahamas. In the letter of intent, the proposed terms with regards to distribution, manufacturing, and sales relationships were outlined between the two entities.
As per the terms of the letter of intent, Sustainable Green Team would grant exclusive rights to sell, distribute, and manufacture its flagship offerings, XLR8 Bio, Humisoil, and other products that the parties agreed upon in the above-mentioned territories. Following the signing of the definitive agreement, the company’s subsidiary unit, SGTM-VRM LLC, and its Caribbean partner would work on setting up manufacturing plants, distribution strategies, and marketing strategies so as to make sure that the launch of the products was successful.
In the news release, the Sustainable Green Team noted that the collaboration agreement had three distinct phases. The first stage would deal with the development and testing of marketing, sales, and distribution strategies for XLR8 and HUMISOIL in the different designated markets. The Caribbean Partner would buy a standard package of SGTM-VRM products in order to start the manufacturing process. The second phase would deal with the technology and knowledge transfer to the partner from the Sustainable Green Team. That would lead to the establishment of distribution, manufacturing, and sales of the products. The third and final phase of the collaboration would deal with scaling up the sale, distribution, and manufacturing of the products.
