WILMINGTON, DE / ACCESSWIRE / February 16, 2021 / Novagant Corp. (OTC PINK:NVGT)(the "Company") a specialty investment company that develops agriculturally based technology companies announced today it has completed the purchase of two significant patents for its commercial and residential hydroponic/aquaponic operations.
As previously reported, the Company signed a binding LOI with Apex Farms Corp. to purchase patents 9,795,097 and 10,004,188 in exchange for 25 million shares of Novagant Corp. restricted common stock. The purchase of these two patents has now been completed.
The acquisition of these patents will now give Novagant Corp. the ability to target commercial and residential farming markets with significant advantages to substantive growth of produce without having to increase equipment and space.
Grandview Research analyzed the global hydroponics market size with a valuation of $1.33 billion USD for 2018 with expected growth at a compound annual growth rate (CAGR) of 22.52% from 2019 to 2025. With exponential annual growth in the hydroponic industry exceeding 22% per annum, this puts Novagant Corp. with superior patented technology in the right industry, at the right time.
Novagant Corp. intends to sell both commercial and residential vertical hydrponic and aquaponic systems by implementing a strategic marketing program that will help educate the consumer, while taking advantage of the power of the internet to apply a focused approach utilizing direct to marketing (D2C) channels in order to increase sales through various D2C platforms that have a broad outreach on a national and global scale.
Alexander M. Woods-Leo, Novagant Corp. CEO, stated, "With the renewed focus on combating global warming, water conservation and energy sustainability, Novagant Corp. is preparing to take advantage of the opportunities created by having the ability to produce a product with patented technology that compliments each of these areas of global interest. He also stated, "Between the substantial increases in growth we have witnessed in the cannabis and hemp markets over the last several years, in addition to new cleaner technologies being applied in the agricultural farming industry, we are confident that our technology will be well received. We believe this will not only set us up for success but will also create added value for local and global communities, while ultimately enhancing our shareholder value."
About Apex Farms Corp.
Apex Farms Corp. engages in the development, manufacture, operation, and integration of the Apex Vertical Growing System, a high density vertical growing system for both commercial and residential use. The Apex Vertical Growing System grows fresh, nutritious, and leafy green vegetables in an "A" frame design vertically arranged for easy harvest. The patented hydroponic system can accommodate a wide diversity of plants, including vine, root, flower and greens. The Apex farming system is scalable for uses in a small household garden or a large commercial farming operation. The product can be operated in any suitable environment and will reduce water usage by over 85%. Our technology allows the customer to grow up to 10 times more product per square foot to that of traditional outdoor soil farms.
However, post transaction Apex Farms Corp. will be focusing all of its attention on its remaining assets with an all-out focus in farming and distribution of produce.
Visit Apex on the web: https://apexfarming.com/
About Novagant Corp.
Novagent Corp. is a specialty investment company which engages in developing, marketing and managing of growth stage companies in a variety of agriculturally based businesses. The Company's management team is seeking to acquire other innovative high revenue producing commercial operations that complement our existing portfolio by means of additional acquisition targets. The company was founded in 1987.
For more information about the Company, please visit www.novagantcorp.com
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's affiliates that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
SOURCE: Novagant Corp.