PCT enters into licensing, distribution agreement for the treatment of citrus greening

Date:09-28-2018

PCT LTD (OTC Pink: PCTL), a leader in environmentally safe, non-toxic, antimicrobial solutions for global sustainability announced recently it has entered into a license and distribution agreement with a long established agricultural chemical company through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp.).

The one-year exclusive agreement, subject to renewal, provides for license fees and monthly royalty and equipment leasing payments. PCTL is expanding its already successful field trial results for the treatment of Citrus Greening that is causing enormous economic difficulties for many Florida growers, as well as for those in Texas, California and other regions of the world.

HLB was first reported in China in 1943. The African variation was first reported in 1947 in South Africa, where it remains widespread currently. Eventually, it affected the United States, reaching Florida in 2005. Within three years, it had spread to the majority of citrus farms.

It is estimated that losses in the citrus industry from HLB exceed $4 billion annually in Florida alone. The rapid increase in this disease has threatened the citrus industry not only in Florida, but in the entire US. As of 2009, 33 countries have reported HLB infection in their citrus crop.

"The ability to hold perhaps the only solution for the targeted disease is very exciting," stated the Area Manager for PCT LTD's new licensee and distributor. "The growers in Florida are more than our customers, they are our neighbors and we want to contribute to bringing them the solutions they need for their livelihoods to not just continue, but to excel. We think we have that solution with PCT LTD's products."

For a period of one year, beginning October 1, 2018, PCTL will deliver up to fifty (50) Hydrolyte generators to a central point of distribution in Florida, where the PCTL licensee and distributor will also begin the launch of an extended trial through distribution of equipment and fluid solutions to a select portion of the target market.

The initial phase of the agreement calls for the delivery of ten (10) Hydrolyte generators to the central distribution center in Florida by October 1, 2018. The extended trials will be aided by an agricultural specialist as further testing is performed and protocols are refined. All results will be shared between the parties for mutual development of best-practices for full commercialization within this market.

Tom Minter, President of Florida Pesticide Research, Inc., stated, "The purpose of the partnership is to develop Hydrolyte bactericide for the treatment of Huanglongbing (HLB) in citrus. HLB is a worldwide citrus disease that has resulted in a 70% decrease in citrus production in Florida."

Minter further commented, "PCT's new partner supplies crop protection chemicals and expertise in citrus in the Florida market, making them the ideal partner with PCT Corp. Early results forecast continued positive progress for PCT's product and our work will further develop the most effective application rates, frequency, and technique strategies."