NNRF Signs Definitive Agreement to Acquire Zeolite Australia
RENO, March 30, 2023. NNRF, Inc. (OTC: NNRI) (“NNRF"), announced today that it has signed a Definitive Agreement with Zeolite Australia Pty, Ltd, an Australian corporation (Zeolite Australia) replacing the previous Binding Letter of Intent dated January 31, 2023, to acquire a 51% interest in Zeolite Australia with an option to purchase the remaining shares over the next five years.
Zeolite Australia has several mining locations that are in various stages of development with zeolite reserves in excess of 25 million tons. Australian zeolite is extremely hard measuring a 7 on the Mohs scale, making it equivalent to the hardness of quartz. This superior structure makes the Australian zeolite reserves a critical component in the development of a circular green economy allowing it to be used for many different projects.
“Zeolite Australia is a critical first step for NNRF to achieve its goal to grow a profitable business in a green circular economy.” commented Tomi Holden, “They have several intellectual properties that when scaled will have a significant impact on water, waste, energy and agriculture, among other things. It is very exciting.”
NNRF and Zeolite Australia hope to complete all of the regulatory, financial and legal documentation within the next couple of months. In the meantime, Gerard Stephen, Managing Director of Zeolite Australia, will join the NNRF board as an invited observer and Tomi Holden, CEO of NNRF will join the Zeolite Australia board as the same. Zeolite Australia will also begin it’s planned equipment upgrade as the two companies look to build business alliances within the sustainable business community in the United States, and Australia.
About NNRF, Inc.
NNRF, Inc. has recently positioned itself as an eco-friendly holding company. We envision to become a leading diversified holding company, maximizing shareholders value and enabling economic development with specific focus on emerging green markets. NNRF looks to build value by targeting companies that are positioned to grow as the world moves to invest in and develop green technologies, green energy and healthier living and lifestyles.
About Zeolite Australia Pty, Ltd.
Zeolite Australia is a world class company supplying zeolite product for use in feedlot and stockfeed, agriculture and fertilizer, water filtration, water treatment systems, and aquaculture. They have a strong management team with worldwide sales. They also received the 2022 New South Wales Sustainability Award for Clean Technology.
Press Release Contact:
Tomi Holden President & CEO NNRF, Inc.
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