Block Commodities launches Ecosystem Pilot Project in Uganda

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Block Commodities Ltd (BLOC) 
Block Commodities launches Ecosystem Pilot Project in Uganda 
 
14-Sep-2018 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
            Block Commodities 
 
            London, 14 September 2018 
 
      Block Commodities launches Ecosystem Pilot Project in Uganda 
 
      Block Commodities Limited (NEX: BLCC), the innovative commodity trader 
    operating in Africa, is pleased to announce a strategic partnership with 
    Pure Grow Africa Limited (Pure Grow), a leading supplier of high-quality 
   agricultural produce based in Uganda. Block and Pure Grow will be working 
     together in connection with the first pilot of a food project commodity 
            cycle ecosystem (Pilot Ecosystem ) in Uganda. 
 
        Pure Grow shares Block Commodities' values of providing high quality 
         products at fair prices with transparency, and a mission to empower 
         communities with modern technologies for improved agri-business and 
            agro-value chain development. 
 
    The two parties will also establish a strategy to maximise the project's 
            results, including: 
 
  - development of a call centre 
 
  - creation and distribution of a mobile app 
 
  - production and transmission of a television show 
 
  - development of logistics and warehouse protocols and 
 
  - the creation of a 'fertiliser swap' opportunity for harvested 
  agricultural products. 
 
Pure Grow is an innovative farm supporter in Africa, embracing modern 
technologies and applications to promote economic growth. while creating 
community awareness and shared values. Farmers linked to Pure Grow aim to 
adhere to the highest standards of food safety, environmental and 
sustainable policies. 
 
     Through the agreement, Pure Grow will initially introduce approximately 
     1,000 farmers and buyers to the Pilot Ecosystem. Block Commodities will 
     implement and support the Ecosystem by providing finance and fertiliser 
  products, as well as supplying the technology. It will coordinate loans in 
    cryptocurrencies (Dala token) for the selected team of farmers from Pure 
            Grow Africa. 
 
           The aim of the loans is to provide farmers with funds to purchase 
fertilisers at affordable rates and better repayment terms, allowing them to 
    increase production and scale up from a subsistence to commercial level. 
 
    Chris Cleverly, Executive Chairman at Block Commodities commented: "I am 
    delighted to partner with Pure Grow Africa to push forward our ecosystem 
            project and support smallholder farmers to grow production." 
 
       Bobby Juuko Kimbugwe, Director at Pure Grow Africa commented: "We are 
 placing smallholder farmers at the centre of our work; they are at the core 
     of what we do. We want them to understand that they do not need to have 
money in their hands to be able to grow production. Block Commodities is the 
            ideal partner to support growth in African farming. " 
 
  According to World Bank, the sub-Saharan agribusiness market could reach a 
      value of US$1 trillion by 2030, highlighting the great opportunity for 
            African agriculture to become a leading player in this market. 
 
   Upon successful completion of the Pilot phase, Block Commodities and Pure 
Grow aim to roll out the scheme to reach approximately 50,000 farmers linked 
  to Pure Grow. It is intended to expand he project to cover other countries 
            in sub-Saharan Africa in due course. 
 
            About Block Commodities 
 
Block Commodities' strategy is to maximise the value of African agricultural 
  and other commodities through the deployment of blockchain technology. The 
        resources will be linked through the vertical integration of primary 
   industries down to consumers via blockchain platforms. Using blockchain's 
ability to dynamically incorporate all market participants into an efficient 
 ecosystem, Block Commodities aims to facilitate the commercial operation of 
        such ecosystems in the context of the agricultural production cycle. 
 
         In reclaiming the value lost in African agricultural and extractive 
       industries through inefficient supply and distribution systems, Block 
 Commodities aims to help sub-Saharan African farmers raise productivity and 
       secure better returns for their produce. This is an important step in 
  establishing African communities as significant future global agricultural 
            producers. 
 
            For more information visit: http://www.blockcommodities.com [1] 
 
About Pure Grow Africa Limited 
 
        Established in 2015 in Uganda, Pure Grow Africa focuses on promoting 
           sustainable agri-business and agro-value chain development within 
   communities by using safe, effective modern agro-industrial technologies. 
   Pure Grow provides the freshest produce, delivered anywhere in Uganda the 
            next morning to some of the biggest names in food service. 
 
Their products include grains, beans, flour, fertilisers, organic fruits and 
    vegetables. Pure Grow works closely with farmers based all across Africa 
 through its initiative called The Farmers' Pride, getting involved in every 
  aspect of the food production and distribution process, from seed planting 
   through to produce transportation and final delivery, farmers' trainings, 
           lobbing for farmers and value addition among others. Pure Grow is 
      certificated by the regulatory bodies in Uganda, and all the company's 
            products are fully traceable. 
 
For more information visit http://www.puregrowafrica.com/ [2] 
 
The Directors of the Company accept responsibility for the content of this 
announcement. 
 
For further information, please contact: 
 
          Block Commodities Limited 
                     Chris Cleverly    [e-mail] 
 
    NEX Exchange Corporate Adviser: 
 Alexander David Securities Limited 
    David Scott - Corporate Finance         [phone] 
 James Dewhurst - Corporate Broking         [phone] 
 
     Public and Investor Relations: 
     Cassiopeia Services - Stefania  [e-mail] 
                          Barbaglio 
 
ISIN:          GG00B4QYTJ50 
Category Code: MSCH 
TIDM:          BLOC 
Sequence No.:  6015 
EQS News ID:   723585 
 
End of Announcement EQS News Service 
 
 
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2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=b58c8e2ed30bbb08ecac40d418bb53b8&application_id=723585&site_id=vwd_london&application_name=news 
 

(END) Dow Jones Newswires

September 14, 2018 02:02 ET (06:02 GMT)