ESG GLOBAL IMPACT CAPITAL INC.
1000 – 925 West Georgia Street
For Immediate Release
ESG AGSM RESULTS AND SHAREHOLDER LETTER
Vancouver, B.C. – August 21, 2020 (TSX.V: ESGW and Frankfurt: ES3; OTCQB: ESIFF)
On Monday, August 17, 2020 ESG Global Impact Capital Inc., (“ESG“) held its annual and special shareholders’ meeting. The Board of Directors and Management would like to thank all shareholders for supporting the issues presented to the meeting.
In particular, the overwhelming support in favor of all regular matters including re-electing the entire Board of Directors and the special business of authorizing an amendment to ESG’s Articles to authorize the issuance of Preferred Shares as detailed in the Management Information Circular dated July 14, 2020.
Todd Violette, CIO, said “I believe this was a very strong shareholder endorsement in support of ESG’s new corporate vision which we started in the spring of 2020. The shareholders approved the necessary financial instruments to allow ESG’s management to work to secure key assets, prior to the fiscal year end of August 31, 2020. This will allow us to begin our goal of assembling a suite of cash-flowing assets while continuing to look for equity partners with new and innovative technologies who share the same vision..“
ESG’s (Environmental, Social and Governance) core area of focus is on the agtech space and in particular creating proprietary sustainable fertilizers for both the conventional and organic markets. The International Fertilizer Association (“IFA“) has reported that: “25% of global crop land has experienced degradation, which over time will make it harder to grow sustainable crops“. Management believes this is a significant environmental and economic opportunity. The global organic fertilizer market is estimated to be a USD $6.7 billion dollar opportunity and IFA predicted it will grow at a CAGR of 7.2% during the forecast period of 2019-2027. In addition to the organic industry, the technology can assist conventional farmers with a sustainable fertilizer that provides a value added and cost effective solution for managing their nutrients and improving the health of their soils.
Therefore, ESG recently incorporated a new subsidiary, named Soilgenic Nutrients Inc. Our objective is to pursue the agtech space with solutions to contribute to sustainable farming practices on a global basis, while helping to reduce agriculture’s impact on climate change. The management of Soilgenic has significant industry experience and relationships and has had advanced discussions on the development, sales and distribution of sustainable and organic fertilizers. Soilgenic is establishing business goals, marketing plans, revenue targets and industry partnerships for the next fiscal year, beginning September 1st. The objective is to create an organizational structure that ensures this revenue generation strategy can be successfully implemented.
Prior to the annual and special shareholders’ meeting, Management worked with IFRS Accountants to ensure the terms of the initial two series of preferred shares will permit us to award equity rights, opposed to a financial liability. This key difference will allow ESG to acquire complimentary assets, while improving its corporate balance sheet. The shareholders approved ESG’s ability to issue preferred shares in series, on such terms and conditions as the Board of Directors may determine from time to time.
Management is actively evaluating two potential arms-length acquisition transactions, which remain subject to further negotiation and regulatory approval. There is no assurance either transaction will occur, but Management is attempting to complete both these transactions prior to August 31, 2020.
In summary, we would like to report that ESG shareholders voted overwhelmingly in favor of all items of routine business, in addition to the special business authorizing an amendment to the Articles of ESGW to establish a Class of Preferred Shares as detailed in the Management Information Circular dated July 14, 2020.
ESG Global Impact Capital Inc., is focused on Environmental and Socially responsible projects and operates as a Canadian investment issuer company. The Board of Directors modified the business plan of ESG in 2020 to take into consideration the changing demands of the modern economy.
‘THE EARTH DOES NOT BELONG TO HUMAN BEINGS; HUMAN BEINGS BELONG TO THE EARTH’
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered “forward-looking statements”. Although ESG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forwardlooking statements include fluctuations in market prices, including fertilizer prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under applicable laws
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