SPRINGVILLE, TN--GroGenesis, Inc., (OTCBB: GROG) ("GroGenesis" or the "Company"), rights holders and manufacturers of AgraBurst, an innovative liquid plant growth enhancement product, is very pleased to provide an update regarding recent activities in Asia.
Under the auspices of potential distribution agreements in Thailand, a test rice farm owned by a Mr. V. Klongkarn ("Klongkarn Farm") of Pathum-Thani Province initiated application of AgraBurst on October 17, 2013 with additional applications scheduled for every twenty days thereafter. Preliminary reports were very positive with demonstrated short germination times and a documented increase in growth rates. Subsequently, on January 6, 2014, Klongkarn Farm harvested the resulting crop. An assessment of the AgraBurst treated rice compared to adjacent untreated rice showed a significantly increased harvest outcome for the treated crop.
The farm operator noted that along with a consistent 22% increase in yield, the AgraBurst treated rice grew taller (30 cm) than the untreated rice with larger, greener leaves and notably bigger rice kernels. Mr. Klongkarn has stated that he was "very happy" with the results and intends to apply AgraBurst to greater effect across his acreage. These early results are generating meaningful interest locally, and the Company aims to work diligently to increase awareness and sales across the region.
Company CEO Joe Fewer comments, "We have great aspirations for the relationships we are building in Thailand. Rice production is massive with the country ranked as the world's second largest exporter. The most produced strain in Thailand is jasmine rice, which is a higher quality but with a significantly lower yield rate than other types of rice. Given that it normally fetches more than double the price of other strains leads us to believe that judicious use of AgraBurst could be an economic game-changer for the country and we are working hard to get the product in the hands of key producers as quickly as possible. The recent field trial is but one small step to gain entry into this huge and exciting market for us."
In related news, GroGenesis is further pleased to announce that a recent business development trip saw a delegation of senior Company executives and advisors travel to Thailand and China to meet with several groups including high level representatives from industrial agricultural concerns. The meetings were positive and encompassed a wide range of topics from distribution opportunities to regional manufacturing options. Negotiations regarding follow up meetings, including arrangements for a shipment of product for evaluation purposes are currently underway. The interested parties cannot be named at this time due to commercial non-disclosure requirements. However, upon the execution of any agreements, the Company will make full disclosure at that time as provided for under applicable regulatory obligations.
Additional details of the Company's business, finances, appointments and agreements can be found in its current report dated February 10, 2013, which forms part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov.
About GroGenesis, Inc. (OTCBB: GROG)
GroGenesis aims to become a leading producer of natural plant growth enhancement technologies. The Company's flagship product 'AgraBurst' is neither a fertilizer nor herbicide. The product is a plant growth technology blended from processed extracts of natural plant materials that directly improves the positive effects of commercial fertilizers and available nutrients. Find out more at www.grogenesis.com.
Cautionary Language Concerning Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in the GroGenesis filings with the Securities and Exchange Commission available at: www.sec.gov. GroGenesis disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.