Verde Resources subsidiary enters exclusive CBD distribution deal in Malaysia

VERDE RESOURCES, INC.

VLI grants Country Farms exclusive right to distribute white-label CBD products in Malaysia for 3 years.
CF pays $200k deposit; $70k applied to first order, $130k retained for exclusivity.
Payment terms: 50% on purchase order, balance 50% less $70k deposit before shipment.
Agreement effective Nov 22, 2022, terminates early on breach, insolvency, or mutual agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VERDE RESOURCES, INC. entered into Product Distribution Agreement with Country Farms Sdn Bhd valued at deposit of $200,000 (effective 2022-11-22).

Action: entry
Agreement: supply
Counterparty: Country Farms Sdn Bhd
Value: deposit of $200,000
Effective: 2022-11-22

Exact text from the filing

On November 22, 2022, Verde Resources, Inc. (the “Company”), through its wholly-owned subsidiary Verde Life Inc. (“VLI”), a company incorporated in the State of Oregon, entered into a Product Distribution Agreement (the “Agreement”) with Country Farms Sdn Bhd (“CF”), a company incorporated in Malaysia and a wholly-owned subsidiary of Berjaya Corporation Berhad, to grant CF with the exclusive right to distribute white-label CBD products from VLI to its customers in Malaysia.

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VERDE RESOURCES, INC. filing history →

Source: SEC EDGAR

accession 0001640334-22-002506

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