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SusGlobal Energy Corp. (OTCQB: SNRG) the Circular Economy® developer of SusGro™, an award winning, pathogen-free organic liquid fertilizer, is pleased to announce that it has signed an Endorsement Agreement with world renowned professional golfer Ernie Els. The Partnership with Ernie Els, SNRG’s New Global Brand Ambassador for Golf courses and beyond Providing an Opportunity for Robust Revenue Growth Beginning in 2023.
Market Action
On Wednesday, SNRG stock traded on higher than average volume. The stock moved within a range of $0.2240 – 0.30 after opening trade at $0.2950.
The signing of an endorsement deal with a big-ticket name is almost always seen as a positive by investors and that brings us to the subject of SusGlobal Energy Corp. The company, which is best known for having developed the liquid organic fertilizer SusGro, was in the news yesterday after it announced that it had roped in famed golf professional Ernie Els as an endorser.
It is a multiyear endorsement agreement that was signed between SusGlobal Energy and the Hall of Famer golfer. The agreement also gives SusGlobal Energy the right to use the player’s likeness and name in addition to endorsements in sales, promotions, and advertisements. The company is currently looking to become the major aquaculture and high-quality organic fertilizer outfit for the golf industry. Hence, the endorsement agreement with Ernie Els may well prove to be a clever move in the long run.
Earlier on in the week on November 15 the company also announced its financial results for the third fiscal quarter that had ended on September 30, 2022. The company managed to bring in revenues of as much as $164,376 in the quarter and the cost of sales for the period stood at $495,742.
The company reported Q3 financials and adjusted EBITDA for the quarter was $1,180,853.
Traders Note
SNRG stock is trading below the 20-Day and 50-Day Moving averages of $0.28 and $0.28 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.41.
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