BUFFALO, New York and HONG KONG and NEW YORK, Sept. 22, 2018 /PRNewswire/ -- ORGANO today announced it has entered into a definitive strategic joint venture agreement with Digital SkyNet Limited for the purpose of pursuing larger market opportunities related to Blockchain technologies and creating more significant competitive advantage through Blockchain related solutions than either company could achieve alone.
Under the terms of the agreement, each company will own an equal share of the newly formed joint venture Company.
"The ORGANO brand is one of the most well known and respected brands in the global nutrition industry and this historic transaction provides tremendous value to the shareholders of both companies," said ORGANO VP of Technology Innovation, Joel Binn. "We look forward to partnering with Digital SkyNet, a well respected Blockchain solutions developer, in what will be an exciting new chapter in the history of ORGANO. As a global enterprise, ORGANO will have an opportunity to more effectively drive further growth and advance our commitment to providing consumers around the globe with great tasting, nutritious and wholesome products. Blockchain technologies represent unprecedented business operations and economic applications to benefit the thousands of ORGANO customers and independent distributors around the world," added Binn.
The agreement provides for each company to invest and equally share in the commercial value of newly created intellectual property. Some areas being explored where Blockchain will offer critical competitive advantage include: support for rapid expansion into new and diverse markets, trade finance, digital asset management, supply chain optimization as well as enhancing socially motivated services.
Holton Buggs, CVO and Global Brand Ambassador of ORGANO said, "ORGANO has strong sustainable growth potential based on high quality standards, continuous innovation, excellent management and highly sought after products. I look forward to our new ORGANO innovations showing up in the global markets and benefitting the thousands of ORGANO customers and distributors for years to come. I have recently been appointed as an executive advisor to Digital SkyNet's 'Ormeus' subsidiary and the newly formed strategic joint venture company owned by ORGANO and Digital SkyNet. This new executive advisor role is additive to my long standing and continuing roles at ORGANO which include helping develop global distribution networks and helping ORGANO realize its strategic vision. This joint venture affords both companies the opportunity to identify, develop and monetize Blockchain related opportunities through the creation of the very first strategic joint venture to bring a leading direct seller of nutrition and beauty products into alignment with a highly innovative and successful Blockchain solutions development company."
About ORGANO
Founded in 2008 with headquarters in Vancouver, British Columbia, and formerly known as Organo Gold, ORGANO is one of the world's leading producers and marketers of healthy, convenient and affordable nutrition and beauty products. ORGANO specializes in proprietary nutrition products, specialty brewed beverages, personal care products and cosmetics. ORGANO provides superior quality, taste and nutrition in all of its consumable products and produces and markets advanced beauty products based on proprietary botanical formulations. The company currently operates in five continents.
About Digital SkyNet ("DSL")
Digital SkyNet Limited is a leading Blockchain technology solutions developer. DSL creates Blockchain based technology solutions to accelerate business value growth, improve operating efficiencies and solve real world business problems.
Cautionary Statement
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe," "will," "anticipates," "believes," "estimates," or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
For more information on ORGANO and the Joint Venture, please go to http://www.organogold.com.
CONTACT: Patrick Miranda, legal@organogold.com
