Argo Living Soils Corp. announced significant developments in its operational strategy and market focus. Argo previously announced a Memorandum of Understanding with Connective Global SDN BHD on April 9, 2024, and is now advancing towards a definitive joint venture agreement.

This collaboration aims to leverage biochar technology for agricultural and industrial applications, with dedicated research and development at University Putra Malaysia (UPM). Argo is strategically targeting markets in Southeast Asia and the Middle East, where sustainable agricultural solutions are vitally important. This shift allows Argo to concentrate efforts on these more lucrative opportunities as nations address soil degradation and improve food security.

In alignment with this strategic shift, Argo has decided to terminate its joint venture with Pacific Composting Inc. in Duncan, BC. This decision reflects Argo's commitment to focusing resources and efforts on the Asian market. As at the date of this news release, a definitive joint venture agreement with Connective Global has not been executed and there is no guarantee that such agreement will proceed as outlined above.

The definitive joint venture agreement remains subject to negotiation and execution of definitive documentation acceptable to both parties, which may or may not be completed.