ESGFIRE Reinitiates Coverage on Canadian Fertilizer Innovator Replenish Nutrients, Highlighting Exclusive U.S. Licensing Strategy; Target Price CAD 0.44 (USD 0.31)
ESGFIRE Reinitiates Coverage on Canadian Fertilizer Innovator Replenish Nutrients, Highlighting Exclusive U.S. Licensing Strategy; Target Price CAD 0.44 (USD 0.31) |
| [17-November-2025] |
Company: Replenish Nutrients MALMÖ, Sweden, Nov. 17, 2025 /PRNewswire/ -- 1.Condensed Reinitiation Summary -What's happened? -Why does it matter? -Why is now a compelling time to look at the company? 2.Executive Summary Replenish Nutrients is currently a small-cap clean-tech fertilizer company from Alberta, Canada offering natural, carbon reducing,micro-nutrient fertilizers that rebuild soil health. The company is now on the verge of transforming itself into a potentially global regenerative fertilizer licensing platform. Replenish's products deliver clear environmental and social benefits compared to conventional fertilizers. Carbon Reduction: The company's own studies show its product can cut 0.4517 tonnes of CO₂ emissions for every tonne of fertilizer produced, relative to standard synthetic methods. ESGFIRE sees a verystrong investment casein Replenish Nutrients driven by an accelerating move to regenerative agriculture and by Replenish's proven product suite (SuperKS for K/S replacement; Rebuilder for phosphate; HESO maintenance series). The recent U.S. licensing agreement with FUE is transformative: it immediately opens up a ~70M-acre market to Replenish's patented pellet product with no capex from Replenish. In effect, this is a "win-win" funneling new revenue to Replenish (via per-ton licensing fees) while FUE receives access to and implements Replenish technology into their existing plant production. FUE's coverage area of 70 million acres in the U.S. Midwest anchors a substantial addressable market. Applying Replenish's standard usage and pricing assumptions implies an annual market opportunity of roughly $1.75 billion. For Replenish, this translates into CAD $200–300 million in potential yearly licensing income at full penetration—underscoring the scale of value accessible through the company's U.S. expansion Recent Developments & Catalysts -Beiseker Facility (Expected completion by end of 2025): -Pellet Licensing – Alberta (MJ Ag Solutions, Sep 2025): -Pellet Licensing – U.S. (Farmers Union/FUI, Nov 2025): -R&D and Grants: -Q2 2025 Results: 3. Company & Technology Overview Replenish Nutrients (formerly EarthRenew) is an Alberta-based fertilizer company specializing in regenerative agriculture products. It manufactures granular and pelletized fertilizers blending macro- (N,P,K,S) and micro-nutrients with biological amendments. Its proprietary process boasts zero waste and Canadian-sourced inputs. Its key products – SuperKS (sulphur+potassium), Rebuilder (phosphorus), and HESO (balanced maintenance) – are blends of natural minerals and organic compost that feed soil biology as well as plants. For example, SuperKS is a pelletized mix of elemental sulphur, potash, and activated compost that restores depleted S and K in soil while "unlocking" native nutrients via microbes. All products are chemical-free and OMRI-listed for organic use Unlike commodity fertilizer firms, Replenish's business model has lately evolved from a production focus to technology andlicensing technology. The company now appears to be aiming into becoming a licensing platform – it provides its patented formulas, raw-material supply chain, and quality control to large regional partners, while they build and run plants. Replenish earns per-tonne royalties (e.g. US$40–60/t in the FUE deal, CAD~$56–84/ton) without heavy capital investment. This platform approach contrasts with pure-plant models and fits ESG-minded investors by emphasizing partnerships with farmer-owned co-ops (e.g. FUE) and global impact via scale rather than heavy CAPEX spending. Replenish still could become the operator of a few plants if they decide to proceed with their Debolt and Bethune projects however this is likely not the main path forward as these facilities (if completed) are more likely to be used as massive revenue generating showcase facilities for new license partners. This technology tackles a serious need: traditional fertilizers (nitrogen, phosphate, potash) are energy- and chemically-intensive to produce, and their use often degrades soil health. By contrast, Replenish's approach improves soil health (boosting microbial activity and organic matter) while supplying key nutrients. The result is higher crop yields with fewer synthetic inputs, aligning with trends in sustainable agriculture. In essence, Replenish aims to "grow plants by feeding the soil," which could enhance food security and farm economics in a climate-friendly way. Trials have shown that its products achieve comparable yields to conventional, but with real ecological benefits (restored soil fertility, water retention, etc.). 4. Stock History & Capital Structure Replenish Nutrients (formerly EarthRenew Inc.) went public on the CSE in 2019 (ticker ERTH). The current operations were effectively merged into the public entity in 2021, when EarthRenew moved from an initial plan to acquire 38% of Replenish Nutrients to ultimately acquiring 100% of the company. This consolidation brought the privately built Replenish business fully into the public vehicle. Founders and early Replenish management (CEO Neil Wiens, COO Kevin Erickson, CFO Matthew Greenberg) remained with the combined company, bringing deep experience in agriculture, soil health, and finance. Insider ownership is significant—CEO Wiens ,COO Kevin Erickson and CFO Greenberg each hold meaningful equity positions (per the latest filings), aligning leadership closely with shareholders. 5.Share Structure and Dilution Replenish Nutrients Holding Corp. has a single class of voting common shares The company's basic share count is approximately 160.44 million common shares outstanding. In addition, there are roughly 21.7 million warrants from recent financings (e.g. 3.125 million @ $0.08 issued Jan 2025; 18.56 million @ $0.12 issued Apr 2025). Stock options granted to employees and consultants add another ~13 million (as of mid-2024), plus a further 5.26 million options granted in May 2025 at $0.08 – totaling on the order of ~16–18 million options outstanding. Factoring in all outstanding warrants and options, the fully diluted share count would be on the order of ~210.7 million shares (the company's official disclosures note ≈50.23 million shares reserved for issuance under convertible securities). This is significantly lower than the official fully diluted share count of 240.9 million. In other words, the 240.9M figure is not supported by current data – even counting all warrants (including the ~42.4 million warrants at $0.32 expiring 2026, which are out-of-the-money at the current ~$0.155 share price and thus unlikely to be exercised at present). For all per-share calculations we will therefore use a fully diluted share count around ~210–212 million based on the latest share structure. 6.Insider Shareholdings (Management & Directors) Company insiders – including executive officers and board directors – hold a significant portion of the shares. Collectively, insiders own roughly 15% of the outstanding common stock. Below are the notable insider holdings (approximate shares and ownership percentages): -Neil Wiens (CEO, CTO & Director): Holds 16,301,819 common shares, about 10.2% of the company. (These shares are held indirectly through the Neil Wiens Family Trust and a numbered company.) -Catherine Stretch (Director): Holds 2,159,397 shares, roughly 1.3% of the outstanding stock. -Matthew Greenberg (Chief Financial Officer): Holds roughly 1,744,000 shares, ~1.1% of outstanding shares. -Kevin Erickson (Chief Operating Officer): ): Holds approximately 2,568,169 shares, ~1.6% of the company. -Brad Orr (Director): Holds 250,000 shares (<1%). -Lucas Tomei (Director): Holds 400,000 shares (also <1%). These figures indicate that Neil Wiens, the CEO/founder, is by far the largest single shareholder with over 10% ownership. No other director or executive holds above a 2% stake individually. The combined insider ownership (directors and senior officers as a group) is in the mid-teens percentage of shares outstanding, reflecting management's meaningful equity stake in the company. Institutional Investors and Public Float No single institutional investor holds a controlling or reportable stake in Replenish Nutrients Holding Corp. In fact, as of the latest filings, no institutions or funds had filed 5%+ ownership reports in the U.S. (SEC) for the company, and the only shareholder above a 10% threshold is CEO Neil Wiens. This suggests that there currently are no major institutional shareholders with significant positions in the stock which is typical for an early stage smallcap company. The ownership structure outside of insiders is therefore highly dispersed. By deduction, the public float (shares held by non-insider, public investors) constitutes the vast majority of shares – on the order of ~83–85% of the outstanding stock. Data sources indicate that individual insiders collectively own about 16–17% of shares, while the general public owns roughly 83–84%. In other words, apart from the insiders' ~15% stake, the remaining ~85% of shares are widely held by retail investors and other small shareholders. This large free float implies substantial liquidity and diversification among public shareholders, with no other single entity owning more than a few percent of the company. 7.Funding and Capital Raises Replenish has been aggressively raising capital and securing non-dilutive funding to support its growth. Major cash inflows secured in 2023–2025 include: a $2.5 million revolving credit facility (one-year term at prime + 12% interest) and a $200,000 receivables factoring loan (6-month term at ~2% per month) obtained in April 2025; approximately $1.15 million in equipment/term loans closed in January 2025 (in three parts: $750k, $250k, and $150k at ~10% interest); and gross private placement equity proceeds of ~$1.48 million (via an oversubscribed unit financing at $0.08/unit, closed in two tranches by April 2025). Importantly, the company also secured a CAD$7 million non-dilutive grant from Emissions Reduction Alberta in mid-2023 to support construction of the new DeBolt facility. Combined, these initiatives total roughly C$12–13 million in new funding, putting the balance sheet in a much stronger position. (For example, by August 2025 management reported having raised about $5.6 million in new debt and equity specifically for the Beiseker facility upgrades, on top of earlier financings – facilitating the completion of that expansion.) Notably, company insiders participated in the recent financing rounds (subscribing to private placement units), which demonstrate management's alignment with shareholders and confidence in Replenish's growth strategy. 8. Global Market Opportunity Replenish has an opportunity to expand into every major global farming region with unmet fertilizer needs, below is a breakdown of all relevant markets outside of North America: -South America (Brazil, Argentina): -Europe: -India: Australia: -Africa: Summary: 9. Milestones There are several near-, mid- and long-term milestones investors should pay close attention to with Replenish Nutrients: Near-term (0–12 months): -FUE License Implementation: -Beiseker Ramp-Up: -Consumer Launch: Strategic Partnerships: Mid-term (12–36 months): DeBolt Facility: -Bethune Facility: -Expanded Licensing: -Product R&D & Trials: -Scale Distribution: Long-term (3–10 years): -Global Reach: -Platform Expansion: -M&A or Exit: 10. ESG Impact Replenish's products deliver clear environmental and social benefits compared to conventional fertilizers. Carbon Reduction: The company's own studies show its product can cut 0.4517 tonnes of CO₂ emissions for every tonne of fertilizer produced, relative to standard synthetic methods. This is partly because Replenish avoids high-temperature chemical processing (which emits CO₂) and instead uses low-energy mixing of minerals and compost. The $7M Alberta government grant it received also highlights the carbon benefits of this approach. Runoff/Mitigation: ESG Alignment: 11. TAM Analysis Replenish's addressable markets are large and growing. In Canada alone, farmers spend CAD $8.9 billion on fertilizer yearly. Western Canada's share of this is ~CAD $6.5B. Crucially, the U.S. market is 5–10× larger than Canada's. Conservatively using 5×, the U.S. farm fertilizer market exceeds CAD$44B (likely much higher given growth). Replenish is targeting segments of this huge market (soil-rebuilding fertilizers). Specific TAM components: -Regenerative Ag sector: -Licensed regions: -Canada farmland: -Consumer lawn/garden: In total, the broader "soil tech" and nutrient markets are easily >CAD$50B per year. Replenish's initial beachhead is small, but the runway is enormous. Even capturing 1–2% of global fertilizer spend would justify a much higher valuation than today's smallcap levels. 12. Business Model Replenish's model has three revenue streams:
Key advantages: 13. Premium Ag-Tech Valuation Benchmarks & Justification for 30× EV/EBITDA Replenish Nutrients sit at the intersection of fertilisers, soil health, and ag-technology. It should not be valued strictly on the same basis as legacy commodity fertiliser producers, given its higher growth potential and technology-driven model. Traditional fertiliser companies like Nutrien and Scotts Miracle-Gro trade at relatively low multiples (single digits to low-teens EV/EBITDA) reflecting their mature, capital-intensive businesses and low growth rates. For example, Nutrien's EV/EBITDA has been around 7–8× in recent periods, and Scotts Miracle-Gro (a consumer-focused fertiliser company) typically trades in the low-teens EV/EBITDA range. These incumbents have structurally capped multiples due to their modest growth prospects and heavy capital requirements. By contrast, the broader AgTech and ag-biologicals sector commands substantially higher valuation multiples, indicating a market premium for innovation and growth in agriculture. Several data points underscore this trend: -AgTech Public Multiples: -Natural Agrochemical/Biotech Deals: -Traditional vs. High-Growth Peers: In summary, there is a valuation ladder in the agriculture sector: legacy fertiliser/input majors at roughly 7–12× EV/EBITDA, mainstream AgTech companies around ~10–11×, and biologicals/regenerative ag deals averaging ~20–23× (with a few outliers higher). Against this backdrop, a 30× EV/EBITDA multiple for Replenish Nutrients is clearly at the top end of observed valuations. However, one can argue that such a premium is justifiable under a scenario where Replenish executes well, given the company's profile and growth prospects. Key factors supporting a higher multiple include: -High Growth Trajectory vs. Mature Peers: -Technology and IP-Driven Moat: -Favorable ESG Profile and Regulatory Tailwinds: -Scalable, Asset-Light Growth via Licensing/Partnerships: -Strategic "Category Leader" Positioning and M&A Appeal: Conclusion: Assigning a 30× EV/EBITDA multiple to Replenish Nutrients is given the factors outlined (high growth, tech/IP moat, ESG tailwinds, asset-light scaling, and strategic appeal) defensible, one can argue that 30× is achievable in a bullish scenario where Replenish proves itself as a leading, high-growth AgTech platform rather than a conventional fertiliser maker. It represents an aggressive but defensible premium if the company delivers on its vision. 14. Financial Outlook and Modeling (2026–2027) Turning to the financial projections, we model Replenish's EBITDA growth through 2026 and 2027 and apply the 30× multiple to derive enterprise value and per-share outcomes. The company is currently ramping up production and sales, so the next two years should see a sharp inflection in earnings if the plans stay on track: 2026 EBITDA Projection (Base Case) In 2026, Replenish Nutrients is projected to achieve approximately CA$3.1 million in EBITDA under the base case assumptions. This reflects the first year of contributions from the company's new licensing model alongside its existing operations. Licensing partners are expected to produce ~25,000 tonnes of Replenish's fertilizer in 2026. Given an EBITDA contribution of about CA$84 per tonne (based on recent licensing terms), this volume would deliver roughly CAD$2.1 million of high-margin EBITDA. Notably, Replenish's in-house Beiseker granulation facility – which has a capacity of ~20,000–25,000 tonnes per year – is anticipated to be at full production in 2026. At that output level, the Beiseker facility should cover the company's fixed overhead costs and make Replenish cash-flow positive on an operating basis. The MJ AG pelletizing deal is expected to contribute with 1 million CAD in EBITDA . In combination, the licensing fees (which largely flow directly to the bottom line under this capital-light model) and the Beiseker drive the total EBITDA forecast of ~CA$3.1 million for 2026. 2027 EBITDA Projection (Base Case) By 2027, Replenish Nutrients' EBITDA is expected to scale dramatically, reflecting a full ramp-up of the licensing strategy. In the base case, licensed production volume is assumed to reach ~100,000 tonnes for the year, driven by the expansion of existing agreements and potential new partnerships. This is well supported by the company's recent U.S. licensing deal with Farmers Union Enterprises (FUE), which alone provides initial capacity of 50,000 tonnes, scalable to 100,000 tonnes annually when running 24/7. At CAD$84 EBITDA per tonne, 100,000 tonnes would contribute about CAD$8.4 million in EBITDA from licensing in 2027. Replenish has indicated its share of revenue in the FUE agreement is expected to average USD $40–$60 per tonne, which aligns with this CA$84/tonne EBITDA assumption (near the higher end of that range after currency conversion and costs). Adding the steady CAD$1.0 million EBITDA from the MJ AG pelletizing deal, total 2027 EBITDA (base case) is projected at approximately CA$9.4 million. This step-change from 2026 to 2027 underscores the high operating leverage of Replenish's model – once the fixed costs are covered by the base business of the Beiseker facility, incremental licensing revenues translate directly into EBITDA growth. Valuation Implications @ 30× EV/EBITDA Applying a 30× enterprise-value-to-EBITDA multiple to these projections yields a substantial implied valuation for Replenish Nutrients. This higher multiple reflects the company's early-stage, high-growth profile and its differentiated regenerative agriculture technology (justifying a premium vs. traditional fertilizer companies trading at single-digit multiples). For 2026, the ~CAD$3.1M EBITDA translates to an enterprise value of about CAD$93 million. By 2027 (base case), the ~CAD$9.4M EBITDA implies an enterprise value of roughly CAD$282 million. With minimal net debt, we assume enterprise value is approximately equal to equity value. Using a fully diluted share count of 211 million shares, the implied equity value per share would be about CAD$0.44 for the 2026 base case and CAD$1.34 for the 2027 base case. For context, these figures represent a multi-fold increase over the company's recent market price (∼CAD$0.15 in late 2025), highlighting the significant upside potential if management executes on these targets. In sum, Replenish's licensing-driven growth could drive its valuation from sub-$100M today to the several-hundred-million range by 2027, assuming the 30× growth multiple is maintained. 2027 Bull Case Scenario In a bullish scenario, Replenish secures a second major licensee by 2027. This additional partner is modeled at a modest 25,000 tonnes of production in 2027 (at the same CAD$84/tonne EBITDA). The incremental volume would raise total licensed output to 125,000 tonnes and boost 2027 EBITDA to approximately CAD$11.5 million (vs. CAD$9.4M in the base case). At the 30× multiple, this bull-case EBITDA equates to an enterprise value of about CAD$345 million, corresponding to ~CAD$1.64 per share. This is roughly 22% higher than the base case 2027 value per share – a reflection of how "each additional licensing agreement has the potential to compound growth and strengthen cash flows". In practice, this bull case illustrates the significant leverage in Replenish's model: once the platform is established, every new licensing deal can unlock outsized value for shareholders. Management's ability to replicate its capital-light partnership approach across further regions could therefore accelerate Replenish's re-rating. Summary of Valuation Outcomes:
Note: These valuations assume a fully diluted share count of ~211 million and negligible net debt (thus using equity value ≈ enterprise value). All figures are in Canadian dollars. The 30× EBITDA multiple is chosen to reflect Replenish's growth potential and unique market positioning in regenerative agriculture, which justify a premium valuation relative to traditional fertilizer peers. The projections above are forward-looking and actual results may differ, but they outline a clear path for substantial stakeholder value creation if Replenish Nutrients executes its 2026–2027 growth plan. In our bull case, Replenish's share price could reach approximately CAD$1.64 by 2027, a valuation that would mark a tenfold increase over current trading levels (∼CAD$0.15 as of late 2025). This upside scenario highlights the powerful optionality embedded in the company's capital-light business model – if Replenish can replicate its early licensing success with additional partners globally, the financial impact could be highly accretive. The model shows that even a single new licensing agreement (added to the base case) could increase equity value by ~CAD$0.30/share, or roughly 22%, by 2027. Naturally, this scenario depends on successful execution: Replenish must secure high-quality partners, ensure the FUE agreement ramps successfully to validate the model, and navigate production timelines effectively. But the foundation is in place, and the path forward is clear. Overall, this analysis presents a cohesive and compelling valuation picture for Replenish Nutrients. In a successful execution scenario, the combination of sharp EBITDA growth through 2026–2027 and a premium valuation multiple (justified by the company's high-margin licensing strategy and AgTech positioning) could drive a significant re-rating of the stock. Starting from a sub-$100M market cap, Replenish has a credible path to becoming a $300M+ enterprise within two years. From today's modest valuation, the potential for 5–10× equity upside is real – though it remains contingent on hitting milestones around capacity expansion, licensee activation, and continued market validation of its regenerative fertilizer model. Formulärets överkant Formulärets nederkant 15. Management & Governance Assessment Replenish Nutrients is led by a highly aligned and deeply experienced management team whose professional backgrounds directly match the company's technology, operational, and commercialization needs. Management collectively brings decades of hands-on expertise in agriculture, fertilizer R&D, nutrient recovery, commercial operations, engineering, finance, and strategic execution, and all hold significant personal financial stakes in the company — ensuring strong alignment with shareholders. Executive Team Neil Wiens (CEO, CTO & CRO) Kevin Erickson (COO) Matt Greenberg (CFO) Alignment, Incentives & Insider Commitment Management and founders hold significant equity positions, reflecting early investment, sweat equity and years of development work. Their compensation structure is intentionally modest and weighted toward equity, reinforcing long-term value creation. Insider participation in recent financing rounds demonstrates continued personal conviction in the company's upside potential. 16. Operational Execution Track Record The leadership team has already delivered a number of tangible execution milestones that validate their ability to scale a commercial ag-tech platform: -Secured over $2 million in R&D funding since 2018 and a major $7M Emissions Reduction Alberta grant for the DeBolt facility — a strong external vote of confidence in the company's technology and environmental benefits. -Built and operated a blended fertilizer business producing ~30,000 MT per year and generating $15–20M in revenue from established products and distribution relationships. -Advanced multiple manufacturing facilities — Beiseker (R&D + 20,000 MT granulation), DeBolt (50,000 MT, approvals complete), and Bethune (200,000 MT, agreements substantially completed) — demonstrating capacity to execute capital projects at scale. -Developed a robust distributor network and strengthened customer adoption through independent field trials proving product efficacy and soil-health benefits. -Successfully advanced patent-pending manufacturing processes, trademarks, and proprietary nutrient formulations — creating clear competitive moats. These achievements show that execution risk, while still present for a growth-stage company, is mitigated by demonstrated delivery across fundraising, engineering, project management, market development and regulatory approvals. 17. Scientific & Governance Credibility The company supports its regenerative fertilizer claims with more than five years of R&D, independent field trials and third-party validation (including GHG emissions analysis by Brightspot Climate Inc.). The board and advisory relationships draw from agribusiness, engineering and sustainability backgrounds, strengthening oversight and strategic guidance. Governance is typical of a small-cap growth company — streamlined decision-making, tight leadership cohesion, and improving transparency via more frequent updates and structured communication. As Replenish transitions from early-stage development to multi-facility operations and licensing, the governance framework appears well-positioned to mature alongside the business. Overall Assessment Replenish Nutrients benefits from a highly aligned, scientifically grounded and execution-oriented leadership team. Their combined experience across agronomy, fertilizer R&D, engineering, operations and capital markets provides a strong foundation for scaling both the manufacturing footprint and the IP-licensing model. Insider ownership, modest cash compensation, and proven delivery on key milestones collectively instill confidence in management's ability to execute the company's high-growth strategy and help justify premium valuation assumptions. 18. Risks & Caveats -Execution risk: -Capital needs: -Market adoption: -Competitive landscape: -Valuation execution: 19. Conclusion Replenish Nutrients stands at a pivotal moment. It's not often you get the chance to invest in a soon to be profitable ESG company that is on the verge of a global rollout at this stage while it's still trading at a fair valuation. The November 2025 FUE licensing agreement transforms a previously small regional Canadian player into a North American license-based company with immediate U.S. revenue potential. This capital-light expansion pathway should materially accelerate cash flow and earnings. Replenish Nutrients is transitioning from an R&D stage firm into a high margin revenue-generating agtech company by combining owned production with a scaling licensing model. Its 2025 licensing deals (MJ Ag, FUE) and Beiseker ramp are de-risks that validate the company strategy. If execution stays on track, the company can leverage each new partner to multiply revenue without spending equity. We believe the new licensing deal justifies a significant upward revaluation of the stock. In short, the FUE deal is not just incremental revenue – it recasts Replenish from a small local producer to a potentially globally scalable player. For investors, this is a compelling moment: a proven product, growing ESG tailwinds, and now a clear route to large markets and profits. Legal Disclaimer This analysis is based upon reliable sources, namely regulated press releases from the company and investor presentations. Nevertheless, this post may contain interpretations, estimates, or opinions of the authors, or other non-factual information. If that is the case, this is continuously stated above. Furthermore, any projections, forecasts, or similar are explicitly stated as such. The author holds shares and/or other securities of this company and the relevant company may or may not have paid the author for this content. . Because of the above, ESGFIRE urges the readers to always analyze all materials critically in an objective manner, e.g., concerning the reliability of the relevant source and of what constitutes the authors' personal interpretations. The readers is hereby reminded that the post does, as set forth in the Post, contain interpretations, estimates, or opinions of the authors. This post was written by Filip Erhardt, at ESGFIRE, published 17/11 20256 by Filip Erhardt. Investing in stocks is combined with certain risks and it is possible to lose your entire investment. Our posts are made for educational purposes only and are not to be interpreted as tips, financial advice or recommendations of any kind to either buy or sell any stocks. Furthermore, this analysis is produced and distributed as general investment research intended for broad public dissemination. It does not take into account the specific investment objectives, financial situation or particular needs of any individual investor. Any price targets, valuations, or similar forward-looking assessments are based on publicly available information and the author's own methodology, and should be understood strictly as opinions, not as personal recommendations. This material shall not be construed as personal investment advice under MiFID II or Swedish law. Readers are strongly encouraged to make their own investment decisions independently or seek advice from a licensed financial adviser. Contact details This information was brought to you by Cision http://news.cision.com
SOURCE Earthrenew | ||||||||||||||||||
Company Codes: CNSX:ERTH,ISIN:CA76029E1060 |
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