Organic Alliance Signs Produce Supply Contracts Totaling $1 Million Plus; Several More Contracts Anticipated
SALINAS, Calif., Jan. 11, 2013 /PRNewswire/ -- Organic Alliance, Inc. (OTCQB: ORGC), a global grower and marketer of fresh, organic, and Fair Trade fruits and vegetables, confirmed today the signing of several supply contracts for the Tommy Atkins and Ataulfo varieties of organic mangos. The Company anticipates the contracts to generate aggregate revenues in excess of a million dollars from sales to the US retail marketplace.
These contracts are expected to commence next month with the harvesting, packing and shipping of the mangos under the Organic Alliance brand and retail packaging, and to continue through May, 2013. Similar to the previous supply contracts announced by Organic in 2012, these contracts contain options to renew which provide Organic the opportunity to expand the acreage provided, diversify the crops and increase the dollar volume from the products grown. In addition to these supply contracts, Organic expects to sign additional contracts for more organic mangos in the months ahead.
"By establishing an organizational structure to directly manage this key produce item for us in southern Mexico, Organic Alliance is making a financial commitment to this region that we anticipate will generate additional growth in 2013," said Parker Booth, CEO of Organic Alliance.
About Organic Alliance
Organic Alliance, Inc. is a global grower and marketer of organic, Fair Trade and conventional fresh food products to the market place. By establishing collaborative relationships with key growers, the Company has built a vertically integrated supply chain through an alliance of growers that enables it to support its customers with an increasing variety of certified sustainable products, sensible pricing, steady supply and inspiring multi-media stories from our many producing communities. For more info, visit: www.organicallianceinc.com.
Safe Harbor Statement
This news release contains forward-looking statements which are based on current expectations, estimates and projections about our business based, in part, on assumptions made by our management. Actual results, levels of activity, performance or achievements could differ materially from those discussed or implied in the forward-looking statements as a result of various factors, including future economic, competitive, regulatory, and market conditions, future business decisions, changes in the supply and demand of the products we sell, our relationships with our existing suppliers, our success in finding additional supply sources, our ability to attract and retain customers, and the risks and other factors discussed in our Form 10-K for the year ending December 31, 2011 or in the other documents we file with the Securities and Exchange Commission. In light of the significant uncertainties inherent in such forward-looking statements, they should not be regarded as a representation that our objectives or plans will be achieved, and they should not be relied upon by investors when making an investment decision. Words such as "believes," "anticipates," "expects," "intends," "may," "forecasts, "foresees," and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Similarly, statements in this release that describe our business strategy, outlook, objectives, plans, intentions or goals are forward-looking statements. We undertake no obligation to update or revise any forward-looking statements for events or circumstances after the date on which such statement is made except as required by law.
President & Chief Executive Officer
SOURCE Organic Alliance, Inc.