Biopack Environmental Solutions Inc. (OTCBB: BPAC), shares of which have increased $0.25 or 61% since the beginning of the year, announced that it has entered into a letter of intent with Packaging Logistics Incorporated for distribution of Biopack’s products in Eastern Canada. Biopack previously announced a distribution agreement with Sonray Sales in Western Canada. Earlier this week, Cohen Independent Research initiated coverage on Biopack with a price target of $1.71, a target which the stock is quietly sneaking up on.
According to Gerald Lau, Chief Executive Officer of Biopack, “We are pleased to be expanding the distribution of our sustainable packaging products to Eastern Canadian customers through Packaging Logistics, a company that shares our commitment to excellence in products, sustainability and reduction of environmental impact through packaging. They have built extensive connections within the retail and processing sectors, and we feel that our product line complements their offering quite nicely. We see strong potential for future growth in Eastern Canada, the largest region of the country by population and consumption.”
Posted by babybulltwits 