Australia's Wide Open Agriculture gains most in 1-1/2 months on distribution deal

Wide Open Agriculture

06/01/2022 24:35

** Shares of Wide Open Agriculture  WOA.AX  climb as much as
7.5% to A$0.715, posting their biggest intraday pct gain since
Nov 22
    ** The food and agriculture co signs https://www.asx.com.au/asxpdf/20220106/pdf/454s586bwjswzl.pdf
 distribution agreement with Metro Alliance to carry its Dirty
Clean Food Oat Milk in Hong Kong and Macau for three years
    ** Metro Alliance, unit of a sale and distribution partner
that operates across Asia Pacific regions, estimates first-year
retail sales of about A$1.7 mln ($1.23 mln), representing
revenue of about A$700,000 for Dirty Clean Food 
    ** First shipment of oat milk is expected to be delivered to
Metro Alliance by March 2022
    ** Co continues to expect to add new regions with Dirty
Clean Food Oat Milk distribution in coming months
    ** Stock hits highest level since Dec 31
    ** WOA stock down ~20.8% in 2021
    
    ($1 = 1.3854 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))