Ag Growth International acquires shares in One Earth Farms

Ag Growth International Inc. (AGI) has purchased two million common shares at US$1.00 per share in the private company One Earth Farms Corp., a subsidiary of Sprott Resource Corp.

Under the agreement, AGI will supply grain handling, storage and conditioning solutions to One Earth Farms projects.

One Earth Farms also plans to become Canada's largest, most efficient operating farm through partnerships with First Nations.

The investment comes amid a highly-controversial dash by investors and nations with few farming resources, such as Saudi Arabia, for land to exploit a potential rise in crop prices, or improve food security.

Many projects, such as Daewoo's attempt to secure huge tracts of Madagascar, have failed on differences between investors and local people.

One Earth was unveiled in March by Sprott Resource Corp, a Canada-based resource group, which said at the time it intended to attract additional investment to the C$27.5 million (US$26.4 million) it was putting in.

Ag Growth International Inc. (AGI) is a manufacturer of portable and stationary grain handling, storage and conditioning equipment including augers, belt conveyors, bucket elevators, drag conveyors, grain storage bins and temporary storage systems, grain handling accessories and grain aeration equipment.