Homie Recipes, Inc. (OTC Pink: HOMR) is engaged as a digital recipe website, which focuses on homemade recipes and specialties. Shares of the recipes company are rallying 3%, through early trading on Wednesday, August 30, 2017. Over the past month, Homie Recipes, Inc. has seen average daily volume of 114,136 shares. However, volume of 98,426 shares or dollar volume of $156,497, has already exchanged hands on Wednesday.
Shares of Homie Recipes, Inc. are increasing today, after the company announced it has entered into a joint venture agreement with West Africa Stevia Company and KOP Farms to plant and cultivate 120 acres of stevia. The joint venture expects to expand to 6,200 acres over time. Here is the full press release detailing of the joint ventures:
Homie Recipes, Inc. Press Release:
PELLA GIANNITSA, GREECE — (Marketwired) — 08/29/17 — Homie Recipes, Inc. (OTC PINK: HOMR) (“Homie Recipes” or the “Company”), is pleased to announce that the Company has entered into a Joint Venture Agreement with the West African Stevia Company and KOP Farms located in Ghana, West Africa.
Terms of the Joint Venture Agreement call for the parties to immediately plant and cultivate 50 hectares (approx. 120 acres) of stevia, increasing in stages up to 2,500 hectares (approx. 6,200 acres) planted. In addition to planting and cultivating stevia on its own lands, the partners intend to develop an “outgrowers” program across Ghana to expand production of stevia with 3rd party farmers on a contract basis. The 3rd party grown stevia would then be processed, marketed, and sold by the partnership.
Mr. Theodoros Kerasidis, President of Homie Recipes, “Ghana is considered one of the most stable and business friendly countries in all of Africa. Certain areas of Ghana, like the valleys of northern Greece, have great climate and soil conditions for growing the highest quality stevia. But Ghana also has a huge advantage with a year-round growing season which will allow for up to four stevia crop harvests per year, as opposed to only two annual harvests in Europe. This combined with cost effective labour, strong government support, and excellent global transport logistics via ocean, make Ghana an ideal location for us to expand our business.”
Stevia, derived from the Stevia rebaudiana plant, is a low-carbohydrate food and beverage sweetener and sugar substitute (up to 300 times sweeter than sugar). Stevia is the only commercially viable, naturally derived, no calorie sweetener for global food and beverage applications. According to WHO estimates, stevia has the potential to replace 20-30% of all dietary sweeteners (estimated at $10 billion in 2017).
Mr. Kerasidis concluded, “Partnerships like this one with local operators enable the Company to rapidly expand into new regions and potentially build a much more diversified business infrastructure. These partnerships also provide local farmers with increased income potential through strong training programs and greater access to credit and international markets. This is a definite win-win strategy that we feel can be replicated around the world and with many different high demand high-value crops, not just stevia.”
Homie Recipes, Inc. files financial and other regulatory reports with the Securities & Exchange Commission on EDGAR. The Company’s filings can be viewed at www.sec.gov.
Cautionary Language Concerning Forward-Looking Statements Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds and the receipt of regulatory approvals. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed corporate development and expansion plans will proceed as planned; (2) market fundamentals will result in sustained commodities pricing and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to our lack of operating history, transitioning from a development company to an operating company, market acceptance of our products and services; operational difficulties relating to international operations; our ability to form and maintain mutually beneficial relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the food sector, and our ability to attract and retain qualified personnel. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements.