At the time of the Verity Greens announcement it was considered to be quite a weak agreement as the timeline/requirements were very much in favour of them and due to the exclusivity for them in regards to the fresh produce side meant that RGI had no scope to do any other fresh produce deals without Verity's consent, at least until they fail to meet one of the key milestones (which appears to have now occurred with them not nominating a city/province for their first facility).
In regards to their first facility, I've checked my notes and the aim, according to the agreement announcement, was that they were expecting to have this completed by April 2022. I think from memory my back of an envelope calculations put this at about $250k - $300k of revenue per year in royalty/profit share payments, so not much recurring revenue if they only do the one facility.
RGI Price at posting:
3.0¢ Sentiment: None Disclosure: Held
