Plandai Biotechnology, Inc., (OTCQB: PLPL) a producer of highly bioavailable plant extracts, today provided an update to shareholders of recent progress in preparing its products for market.
Plandai Chief Executive Officer Roger Duffield stated, "The past few months, while quiet from a press standpoint, have been extremely active for Plandai. At the top of the list, our South African subsidiary, Breakwood Trading 22, has rehabilitated over 500 acres of green tea bushes on its 8,000 acres estate. Our goal has been to have 800 acres prepared in time for the first harvest this fall, so we are ahead of schedule. This amount of production will yield 6,000 kilos of our Phytofare Green Tea extract, which should be adequate for our forecasted 2014 sales."
"The tea estate rehabilitation has involved extensive infrastructure deployment in addition to pruning and weeding of the tea plants," Mr. Duffield continued. "We needed to rebuild many of the roads and bridges and then refurbish the housing and other production buildings on site. As a committed "green" company, all worker housing has been fitted with solar power, and water comes from our on-site reservoir. There are currently 300 full-time workers living on the plantation helping to ensure that we meet our initial goals, with this number increasing to 500 workers when the tea harvesting begins."
In addition to progress on the tea estate, Plandai's other South African subsidiary, Green Gold Biotechnology, has been working to ready the manufacturing equipment and facility so that extract production can commence in time for the first harvest. Mr. Duffield added, "Green Gold is our business that is tasked with producing the extract from the live botanical material. The on-site factory is nearing completion and the equipment, which is being custom built in India, is in the final stages of testing. We expect to ship the equipment in April and have the factory commissioned by August 2013."
"Short term," Mr. Duffield concluded, "we need to commence production of our Phytofare extracts and begin selling. To this end, we have finished with our product profiling and are aggressively working towards having our full-scale production operational by the end of the year."
About Plandai Biotechnology, Inc.
Plandai Biotechnology, Inc. and its subsidiaries, focus on the farming of whole fruits, vegetables and live plant material and the production of proprietary functional foods and botanical extracts for the health and wellness industry. Its principle holdings consist of land, farms and infrastructure in South Africa.
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The information provided may contain forward-looking statements and involve risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include product demand, market competition, and Plandai's ability to meet current or future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Plandai is not obliged to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences, except as required under applicable laws.
Contact: Andrew Beyer Phone: 619-202-7456 Email: investors@Plandaibiotech.com
SOURCE Plandai Biotechnology, Inc.