Great Quest Enters 2-year Partnership with Akon Legacy Ventures and Announces Changes to its Board of Directors
January 16 2020 - 6:00AM
Great Quest Fertilizer Ltd (TSXV:GQ) (“Great Quest” or the
“Company”) is pleased to announce that it has entered into a
strategic partnership (the “Agreement”) with Akon Legacy Ventures,
LLC. (“ALV”) to build and expand GQ’s business, customer base and
increase potential revenue streams for the Company, effective
January 1, 2020.
The partnership covers agricultural and mining activities in
Africa, capital formation, promotion and marketing, and
branding. ALV and its principals shall work with GQ on a
non-exclusive basis to raise growth capital for the Company. GQ
will determine the terms and amounts for fundraising and will close
any financing transactions directly with investors and lenders.
ALV will present GQ with opportunities to participate in mining
and agricultural activities that are related to GQ’s existing
business and are deemed mutually beneficial.
In connection with the agreement, Mr. Aliaune
“Akon” Thiam shall become an Advisor to the Company and actively
promote the Company through his activities across traditional and
social media, and on an ongoing basis. The Company will benefit
greatly from his relationships in Africa and he will provide
strategic advice on opportunities in Africa.
Mr. Aliaune Thiam, known internationally as
Akon, is the CEO and Co-Founder of ALV. He is an American-born
recording artist of Senegalese descent who achieved international
fame in the early 2000’s with more than 40 songs on the Billboard
music charts and 5 Grammy award nominations. He is a highly
respected social entrepreneur, having initiated the energy project,
Akon Lighting Africa, in 2014. ALV has successfully installed
solar lighting and/or provided access to solar power to communities
in 18 African nations to date, employing more than 5000 people
across the continent.
The Company today also announces that Mr. Jon
Karas, President and Co-Founder of Akon Legacy Ventures joins the
Board of Directors of the Company and that both Bruce McKean and
Salma Seetaroo have resigned from the Board. The Board of Directors
of Great Quest wishes to thank Bruce and Salma for their tremendous
contributions to the Company to date and very much look forward to
Jon bringing his insight into Akon’s experiences, relationships and
strategies for success in Africa. As a director, he will
participate in the oversight, management and corporate governance
of Great Quest.
Mr. Karas is a major force at the intersection
of celebrity and social good. He has more than 25 years’ experience
in financing a variety of ventures, packaging and producing
entertainment and bringing the best businesses and talents to the
global market. He is the President of Akoin, a decentralized
blockchain-driven financing platform for Africa and other rising
economies, which he co-founded with Akon. He is a founding Advisory
Board member of Slate Entertainment Group, creator of disruptive
crypto-driven gaming activities and content, streaming and
ticketing platforms. He also founded the highly successful talent
management company Infinity Management International in 1990, which
represents top film and television writers, directors, and
producers.
Jed Richardson, President and CEO of Great Quest
Fertilizer commented, “We are very honoured to enter this strategic
partnership with Akon Legacy Ventures. Akon has made a name for
himself globally in the music business, turning his influence into
unprecedented impact in the sustainable energy sector. We recognize
great synergies between ALV and Great Quest with respect to our
joint vision of Africa’s economic potential and look forward to
working together to attract investment in pursuit of shareholder
value and sustainable agricultural development in
Africa.”
In connection with the services provided and
mutual activities, ALV will receive special purchase warrants to
purchase 2,203,000 shares of GQ at C$.20 per share in two separate
tranches. The special purchase warrants can be exercised at
any time and they shall be detached. The expiration date of the
warrants shall be 24 months from the date of issue. However, the
warrants can be cancelled earlier if ALV unilaterally terminates
this Agreement.
About Great QuestGreat 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.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT
QUEST FERTILIZER LTD.
“Jed Richardson”
President, Chief Executive Officer and
Director
Disclaimer for Forward-Looking
InformationThis press release contains forward-looking
statements and information that are based on the beliefs of
management and reflect the Company’s current expectations. When
used in this press release, the words "estimate", "belief",
"anticipate", "intend", "expect", "plan", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. The forward-looking statements and information in this
press release include information relating to the business plans of
the Company and INCAJOU, and the board of directors and management
of the Company. Such statements and information reflect the current
view of the Company. Risks and uncertainties that may cause actual
results to differ materially from those contemplated in those
forward-looking statements and information.By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
For more information:
Please call Jed Richardson at 1-877-325-3838 or email info@greatquest.com
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