ONIT Sciences secured a binding letter of intent from a China New Anchor Hemp Co. (CNAH) for registration and distribution of ONIT products in China and for the application of ONIT products on crops to be processed and sold through China National Pharmaceutical Group Co., Ltd.(Sinopharm), a Fortune Global 500 company.
“This hemp company is a major player in the Chinese hemp market, which is where over 50% of the world’s supply of hemp and hemp-based product is produced,” noted ONIT’s Gerry Martin, CEO. “This binding letter of intent is the first step towards formalizing several important facets of our relationship. First, CNAH will register our products with the appropriate Chinese agriculture regulators for sale throughout China. Second, we will pursue a formal agreement with CNAH to establish distribution rights for ONIT product. Most impressively, CNAH will use ONIT products to treat crops that will be used to supply Sinopharm’s retail pharmaceutical centers, which specialize in Chinese traditional and herbal medicine business. There are approximately 3,000 of these Sinopharm retail centers throughout China.”
ONIT Sciences management is currently working closely with CNAH to determine appropriate application protocols for the hemp destined for Sinopharm retailer centers. The farms that grow the hemp for these final products are located at the foot of the Lesser Khingan Mountains and in the Neijiang Plain and the Three River Plain, Northeast China – one of the world’s three famous black soil belts and China’s largest green and organic food production base.
“This is an important next step in formalizing the relationships between CNAH and ONIT Sciences,” stated Shaoyu Cai, CNAH’s Director. “We are confident in the efficacy of ONIT’s products and the value they will provide to our hemp operation. These products will help Chinese farmers grow healthier, more productive crops that are free from chemicals and additives—which is of the utmost importance to Sinopharm and our other customers. With our close ties to major farming operations key agriculture officials, we feel we are positioned make a major impact on the fast-growing organics market in China.”
About ONIT Sciences
ONIT Sciences is an agriculture technology company. ONIT’s name is an acronym that describes the company’s unique approach to the industry: Organic Natural Input Technology. It is the company’s mission to increase plant health and crop yield through natural, organic, non-GMO sciences while maximizing value to customers, shareholders, partners and employees. Established in 2018, the company is led by industry veterans and maintains offices in Irvine, California.
Call ONIT Sciences at (949) 317-1811 now to find out how you can participate in the tremendous upside potential of the medical cannabis market—while avoiding regulatory hurdles faced by growers, processors and retailers.
The information set forth herein is presented for informational purposes only and should not be deemed an offer to sell securities. This presentation contains information which the Company believes to be correct, including certain financial information and projections, but the Company does not guarantee as to the accuracy or completeness of such information. The Company reserves the right to modify or amend the information contained herein.