CGS International Inc. (OTCMKTS:CGSI) Stock Soars: Company Enters European Market
CGS International Inc. (OTCMKTS:CGSI) soared 25% after announcing the acquisition of all Agrarian Organics UK Limited assets.
Market Stats
On Monday, CGSI stock soared 26% to $0.56 with more than 351K shares, compared to its average volume of 148K shares. The stock moved within a range of $0.4450 – 0.5800 after opening trading at $0.49.
CGS International Enters into Asset Purchase Agreement with Agrarian Organics UK Limited, Enters European Market
Agrarian Organists signed an Asset Purchase Agreement on March 11, 2022, under which CGSI purchases all its assets in exchange for cash. Plant Grow, which employs a formula particularly intended for home-grown plants and crops, and Orchid Grow, designed to encourage the fine line orchids required to thrive, are two of the properties acquired. Plant Grow and Orchid Grow both include important micronutrients that increase plant nutrient density, resulting in increased productivity, soil tilth, physiological effectiveness, and environmental tolerance.
The Company also bought agrarian Organics’ online sales presence that comprises its online marketplace at agrarianorganics.co.uk and its Amazon-based storefront on the UK website. In addition, as part of the Agreement, Agrarian Organics obtained Amazon markets in Germany, Poland, Spain, France, Italy, Netherlands, the US, Mexico, and Canada. Therefore, in the coming weeks, investors should keep an eye on CGSI.
Key Quote
Paul Marek, CEO of Agrarian Organics, stated that there is “[a] shift happening within consumer buying habits toward more environmentally friendly products. This is especially evident within the home gardening market where consumers are a lot more aware of the negative effects that chemical-based products and conventional farming and gardening practices are having on our health and the environment. This has led to a gap in the market and a growing demand for completely natural and safe gardening products. Now, as a result of this Agreement with CGS, CGS can provide realistic one-stop shopping solutions to consumers.”
