Keeping Promises: EarthRenew Pens Positive Letter to Stakeholders

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES

CALGARY, Alberta, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Following recent announcements this year, updates stakeholders providing more context surrounding the increased output. In addition to the positive news, EarthRenew is keeping its promise to support a farm system focused on soil health. The company is delivering on this by:

• we began last year to understand the impact of our products on potatoes crops.
• Outcomes of the trial included growing healthier potatoes at an equivalent marketable yield at a lower overall program cost than the standard synthetic program while improving the microbial diversity of the soil.
• assured the market that EarthRenew’s acquisition of Replenish Nutrients and its innovative suite of regenerative products was a success.
• With revenue of $15.1 M last year (on a proforma basis), EarthRenew is now focused solely on the growth of this business line, adding capacity exclusively to growing Replenish Nutrients’ products. Next year’s revenue expectations are expected to be in excess of $24M
• The first granules are coming off the production line at the .
• With the completion of this commercial facility, the company can provide customers with granulated versions of the products they have come to rely on. In this form, the products are easier to transport and store and can be applied with traditional farm equipment.
• While Replenish Nutrients will continue to offer a blended version of the products, it’s the granulated version that the business uses as the foundation for growth.
• All of the new facilities being contemplated – including the near-term project in Bethune, SK – will make use of the company’s expertise in granulation and do so at scale.
• EarthRenew is quickly moving through the process required to fulfill its promise of building a 200,000 MT facility onsite at the K+S Potash mine.
• Feasibility studies are being completed for two additional sites, one in the US and one more in Canada.
• As fertilizer prices maintain their unprecedented rise, farmers are reluctant to absorb the price increase and will be looking for more cost-effective solutions. While it has not been immune to the tightening in the Potash market, they have been able to meter its costs to produce products at a price that remains attractive to customers.
  
  

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About EarthRenew

EarthRenew is passionate about supporting a farm system that puts healthy soils and grower profitability back on the table. By upcycling naturally sourced nutrients into high-value crop inputs, we’ve built an innovative platform of regenerative fertilizers under the Replenish Nutrients brand. Regenerative fertilizers enhance soil health and biology while providing valuable, sustainable, plant-available nutrients farmers rely upon for healthy crops. Farmers benefit from improved ROI and a natural alternative to conventional products. For more information, please visit .

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Offering, such as the expected use of the net proceeds of the First Tranche. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; regulatory risks; and other risks of the energy and fertilizer industries. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact: Lauren Gilmore