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- Jatcorp (JAT) has signed a sole agency agreement with Max Core Med Co to sell and distribute its milk powder brand in South Korea
- Under the two year agreement, Jatcorp will receive $2.4 million in minimum orders in year one and $4.8 million in year two
- It comes after the consumer stock inked a 10-year sales agreement with Nightingale PS just two days earlier
- Jatcorp’s subsidiary, ANMA, had also been approved by South Korean regulatory authority KFDA to sell its products in Korea
- Jatcorp is up an even four per cent on the market and shares are trading at 2.6 cents
Jatcorp (JAT) has signed a sole agency agreement with Max Core Med Co to sell and distribute its milk powder brand in South Korea.
Under the two-year agreement, Jatcorp will receive $2.4 million in minimum orders in year one and $4.8 million in year two.
If these orders are not met, JAT has the right to terminate the agreement. It can also be terminated if any breach happens and is not fixed within 30 days.
It comes after the consumer stock inked a 10-year sales agreement with Nightingale PS just two days earlier
This agreement will see Nightingale sell Jatcorp’s existing and future products to its own customers, which include pharmacies and supermarkets across Australia and the U.K.
Jatcorp also announced that its subsidiary, ANMA, had been approved by the South Korean regulatory authority, KFDA, to sell its products in Korea.
“We are delighted to have secured entry into the South Korean market in partnership with Max Core. We are confident based on their track record that the team at Max Core will achieve the minimum sales targets and more,” CEO Wilton Yao said.
“JAT is now seeing the benefit of the expenditure incurred in expanding our ANMA manufacturing facility. The greater capacity will allow JAT to increase its product range and volume to be able to enter the Korean and other world markets,” he added.
Jatcorp is up an even four per cent on the market and shares are trading at 2.6 cents at 12:40 pm AEDT.
