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VANCOUVER, British Columbia, Aug. 29, 2019 (GLOBE NEWSWIRE) -- Great Quest Fertilizer Ltd (GQ.V) (“the Company”) wishes to update shareholders on developments within its pending acquisition, Ivoirienne de Noix de Cajou S.A. (“INCajou”), a cashew processing facility operating in Cote d’Ivoire, West Africa.
Great Quest is very pleased to announce that INCajou received the Hazard Analysis Critical Control Point (“HACCP”) certification on July 30, 2019 following a third-party audit against the standard requirements conducted by TUV-Nord. INCajou is among very few Cote d’Ivoire-based cashew facilities to achieve this prestigious certification standard, earned within five months of commercial operations.
“Obtaining HACCP certification within this timeframe shows our operational capabilities in this part of Africa and strong commitment to food safety, " said Salma Seetaroo, CEO of INCajou and GQ director. "This milestone helps us diversify our pool of off-takers and gives us credibility regionally. " HACCP is recommended by the United States Department of Agriculture (“USDA”), and the Food and Drug Administration (“FDA”) as an effective approach to food safety and public health. It is a management system in which food safety is addressed through the analysis and control of biological, chemical, and physical hazards from procurement and handling of raw cashew nuts, to processing, distribution and consumption of the finished cashew kernel. The comprehensive assurance program is designed to manage and minimize risks during all stages of food production. The HACCP system in place at the INCajou facility involves a series of control procedures at critical points during cashew processing.
Great Quest and INCajou continue to add value for our investors through an ongoing commitment to growing an integrated value chain in the agricultural sector and pursuing the highest quality standards in our operations. In the next twelve months, INCajou will focus on achieving additional international food safety certification.
Change of Business (“COB”) Approval
Great Quest continues to work through the COB process as outlined by the TSX venture. Upon approval of the information circular it will be shared with shareholders who will vote on the transaction. Approval of the transaction and the change of business by shareholders will allow the acquisition of INCajou to close and the shares of Great Quest to resume trading.
About Great Quest
Great Quest Fertilizer Ltd. is a Canadian agribusiness company focused on the development of African agricultural mineral projects for local production of farm ready fertilizers. The Company’s flagship asset is the Tilemsi Phosphate Project, encompassing 1,206 km² in northeastern Mali, containing high quality phosphate resources amenable to use as direct application fertilizer. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.
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