SPZI (now JP 3E Holdings, Inc.): New $617,500,000 Fully Executed Sugar Commodity Contract
JP Energy Global, wholly owned subsidiary of JP 3E Holdings, Inc., formerly Spooz Inc., executed a $617.5 Million transaction (purchase and sale) for ICUMSA 45 Sugar
CLEARWATER, Fla., Feb. 05, 2024 (GLOBE NEWSWIRE) -- JP Energy Global, PTE, LTD, a wholly owned subsidiary of JP 3E Holdings, Inc., formerly Spooz, Inc. (OTC Pink: SPZI), is pleased to announce the execution of a sugar commodity contract valued at $617,500,000 for ICUMSA 45 Sugar. The contract is $47,500,000 per month for the next 12 months, which totals $570,000,000 for the year. The additional trial shipment brings the yearly total to $617,500,000 for the total contract value.
The origin of the shipment is Brazil, South America. As with our previously announced Chicken Paws Commodity contract, JP Energy Global as the seller will issue a performance bond to the buyer in 2% (two percent) of the amount of the financial operative instrument, received and confirmed by the seller through KEB Hana Bank through a Documentary Letter of Credit (DLC). Now that our team on the ground in Brazil has completed the execution of the sugar contract, it is prepping the shipment of the chicken paws contract to China. Shortly after, we will begin prepping for the execution of our sugar contract shipment. More details to follow.
JP Energy Global, PTE, LTD is registered with the Overseas Exporters of Imported Foods with the General Administration of China Customs. Our registration number is 70223000258 and is permitted for all food categories. This is what allows authorization for the company to ship goods into China.
“We have now met and surpassed our initial, short term commodity contract execution goals for two of our commodities: chicken and sugar. Our next goal will culminate with JP3E having over $2.5 Billion in executed commodity contracts over the next few months as we introduce beef, poultry, and multiple agricultural products with executed contracts,” said John K. Park, Chairman and CEO of JP 3E Holdings, Inc., formerly Spooz, Inc.
About Spooz, Inc. (SPZI) now JP 3E Holdings, Inc.
Operating companies to supply the world with the vital needs of Eating, Energy, and Education (3E) which are essential needs for our everyday living and quality of life.
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company's expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange - including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will" and other similar expressions - are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company's control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company's revenues, financial condition or stock price.
Company Contact:
John K. Park, Chairman and CEO
727-216-6765 Office
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