Share this story:

Astron Connect Inc. Reports Update on Acquisition of Bottled Water Trading Company



Astron Connect Inc.
 

Vancouver, BC – TheNewswire - June 15, 2020 - The following is a market update to the recent successful acquisition of Manna Resources Inc. on April 27th, 2020.

From the date of the acquisition on April 27th Astron connect has shipped more than 15 containers of Manna Resources’ branded water with a value of greater than $250,000. We anticipate that the sales will be booked in our current quarter ended June 30th assuming that all custom clearances in China are conducted prior to June 30th.

Our “Manna brand” sales team has been successful in finding new customers in some of China’s major cities and provinces such as Beijing, Shanghai, Shandong, Henan, Jiangsu and Hainan.

Astron Connect has also commenced legal action for the collection of an outstanding receivable of approximately $200,000 in China, which was provided for in fiscal 2019.

Randall Smallbone Astron’s CEO stated “we as a management team are very encouraged with the Manna brand’s penetration into several different markets, in contrast to the narrowly focused geographic market penetration by the sales team of our other water brand. In addition, we continue to actively investigate other products for export to China and other emerging markets.”

  

ABOUT ASTRON CONNECT

Astron Connect (TSXV:AST) helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron Connect brings Canadian food and beverage companies to the world through its extensive connections and export logistics capabilities in China and emerging markets. Manna Water (an Astron brand) and Sachiel Water (an Astron brand) supply China and other emerging markets with pure Canadian bottled spring water. For more information, visit www.astronconnect.com.

 

For more information, please contact:

 

S. Randall Smallbone

President and CEO

Astron Connect Inc.

randalls@astronconnect.com

The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the expected operations of Manna Resources Inc. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the receipt of TSX Venture Exchange approval.