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New Zealand Coastal Seafoods (ASX:NZS) - Interim CEO, Andrew Peti - The Market Herald
Interim CEO, Andrew Peti
Source: New Zealand Coastal Seafoods
  • New Zealand Coastal Seafoods (NZS) has entered a NZ$400,000 (roughly A$377,000) purchase agreement with Good Health Product
  • This agreement will involve Good Health purchasing a minimum of 4000 kilograms of NZS' Nutraceutical Oyster Powder over a 12-month period
  • The first 475-kilogram shipment is scheduled for this week and it will be shipped through the company's newly upgraded production and processing facility
  • Oyster extract powder is a dietary product that is rich in taurine, zinc and glycogen
  • It may be helpful in problem areas, such as cardiovascular health, blood pressure, skincare, arthritis, liver problems, and joint, tissue and muscle pain
  • NZS has ended the day with no change and shares trading for 1.4 cents each

New Zealand Coastal Seafoods (NZS) has entered a NZ$400,000 (approximately A$377,000) purchase agreement with Good Health Product.

This agreement will involve Good Health purchasing a minimum of 4000 kilograms of NZS' Nutraceutical Oyster Powder over a 12-month period.

Further, opportunities to increase the order size to 10,000 kilograms exist.

The first 475-kilogram shipment is scheduled to be dispatched this week and the product will be shipped through NZS' newly upgraded production and processing facility.

Good Health is a New Zealand based retailer that focuses on quality health and nutraceutical (foods containing health-giving additives) products.

"We're very pleased to be working with NZS for the supply of Nutraceutical Oyster Powder, as both companies seek sustainable NZ products as a key supply chain," Good Health supply chain General Manager Jonathan Chauvineau commented.

"We look forwards to building a long term relationship with the NZS team as we speak further opportunities in the nutraceutical market," he said.

What is nutraceutical oyster powder?

Oyster extract powder is a dietary product that is rich in taurine, zinc and glycogen.

It may be helpful in problem areas, such as cardiovascular health, blood pressure, skincare, arthritis, liver problems, and joint, tissue and muscle pain.

"The purchase agreement with Good Health is an important step for the company as it further builds upon the company's baseline revenue," NZS Interim CEO Andrew Peti said.

"The purchase agreement provides a strong foundation of established revenue streams for the next 12 months as the company continues to market and promote its products in new and existing markets," he added.

NZS has ended the day with no change and shares trading for 1.4 cents each in a $7.417 million market cap.


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