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Today, on 4th June 2019, Invigor Group Limited (ASX:IVO) announced that it has entered into a Joint Venture with NZ Enring Group to scale farm-to-plate operations in China and secures up to $1 million of additional capital. The group continue to scale up its WeChat Pay-powered e-commerce operations in Asia with the signing of a Binding Heads of Agreement with experienced China-focused digital marketing and mobile application provider, Enring Australia Pty Ltd, which is part of the NZ based Enring Group.
The company also confirms that Sun Asia Groupâs Geoff Shannon and associates will invest a further $550,000 in Invigor at $0.004 per share with the option to invest $550,000 more through the exercise of 110,000,000 options at $0.005 within six months of their issue date. This takes Mr Shannonâs total investment in Invigor to potentially $2.1 million, subject to shareholder approval.
Under the agreement, both the parties will form a JV company combining their respective technologies and intellectual property to create an end-to-end solution for Australian farmers and producers so they can easily market, sell and supply their products to Chinese consumers. The parties will combine their IP and WeChat Pay entrenched relationships to create a seamless supply chain between Australia and China.
NZ Enring Group is an experienced and well-established digital marketing and mobile application business that promotes and sells products to Chinese consumers through the WeChat platform and using WeChat Pay as the preferred transaction currency. Enring has an established âMini-Mallâ, which is an online community to promote, sell and provide consumer feedback on products for sale in China. Invigorâs Pricing Insights and Loyalty technology will be integrated into Enringâs WeChat Pay licensed platforms. An immediate focus for the JV will be the sales and marketing of produce sourced from the Sun Asia Group farm and producer network.
Separate from this JV, Invigor anticipates shortly announcing its first significant contract into Asia through Sun Asia Group.
Targeted Advertising for IVO (Source: Company Reports)
Gary Cohen, Invigorâs CEO, stated that the management is excited with this development and believe that the JV with Enring is another step in Invigor building out and scaling up its e-commerce operations in Asia, which will be powered by WeChat Pay and using its unique pricing and loyalty technology. With these partnerships, IVO anticipates building revenue base much more rapidly. The company can quickly bring the Sun Asia Groupâs network of farms and produce providers to Enring, which significantly broadens its product offering to Chinese consumers. The company is also delighted that Geoff Shannon has increased his initial investment in Invigor, which reflects the opportunity Geoff and his group recognises in the WeChat Pay ecosystem that the management is rapidly assembling.
On the stock information front, at the time of writing (on 4th June 2019, AEST 1:45 PM) the stock of Invigor Group was trading flat at $0.005, with a market capitalisation of ~$13.93 Mn. Today, it reached dayâs high at $0.006 and dayâs low at $0.005, with a daily volume of 3,754,950. Its 52 weeks high and low price stands at $0.009 and $0.003, with an average volume of 6,056,716 (yearly). Its absolute returns for the past one year, three months and one month are -16.67%, 25.00%, and 42.86%, respectively.
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