Thursday, March 20, 2014

Pan Global Corp. (PGLO) Accepts R&D Report for Northern India-based Planned Hydroponic Greenhouse

Today, Pan Global reported its reception of a research and development report for its planned hydroponic greenhouse operation in northern India. The company plans for the greenhouse operation to be located specifically in Punjab, India. Pan Global’s plan was put together by Dr. Amanjit Singh Josan, an agricultural consultant with over 20 years of experience in horticulture, floriculture, agriculture extension, and greenhouse technology.

The Company’s management commented, “We believe there is tremendous opportunity within India’s large market for our planned greenhouse vegetable production. Our goals are to produce products of higher quality, available on a more consistent basis and with favorable environmental attributes, such as limited or no use of chemical fertilizer and up to 90% less use of water.”

Pan Global believes the plan is a good start to its intent for the development of a Northern India-based demonstration hydroponic greenhouse, in which the company will refine and adapt growing techniques for various vegetables to local conditions. Pan Global anticipates that the plan gives it a cost-effective strategy for long-term scaling of this greenhouse operation.

Currently the hydroponic industry in India is at a very young stage. There are small numbers of professional operators, many of which are focused on floriculture. The hydroponic greenhouse operation will be focused on vegetable crops, with initial efforts emphasizing the production of a certain variety of peppers, seedless cucumbers, tomatoes, and commercial flower crops. Anticipating the availability of financing, Pan Global anticipates the design phase of the first greenhouse facility will be completed by the end of its fiscal year in September 2014. During the operation’s design and construction phase, Pan Global will be moving to establish relationships with various local chain food retails stores, high-end hotels, and other potential customers. These efforts will be undertaken for the endpoint of directly marketing the greenhouse operation’s production.

As previously disclosed, on October 17, 2013 Pan Global’s subsidiary, Pan Asia Infratech Corp. entered into a lease agreement for a five-acre panel in Punjab, India for an initial term of 10 years. The company’s lease agreement entails that the five-acre panel be used for the sole purpose of building and operating a greenhouse growing facility. The Form 8-K for this disclosure can be found at: http://www.sec.gov/Archives/edgar/data/1492617/000149315213002012/0001493152-13-002012-index.htm.

For more information about Pan Global and its initiatives, please visit: www.panglobalcorp.com

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