Valmie Resources Inc (OTCBB:VMRI) entered into a joint venture deal with Monitoreo Especializado Agrícola de Jalisco, SA,. It is a firm operating in the segment of crop monitoring solutions and is based in Mexico. As per the terms, Valmie will work with the firm to produce and market an agricultural drone solution meeting the needs of Monitoreo and its clients. It will consist of feature unmanned aerial vehicle technology designed by Valmie. Also, it will consist of Autonomous Intelligence for Mobile Devices software.
The expert view
Gerald B. Hammack, the President and CEO of Valmie, said that they are delighted to be associated with MEO. It is a leader firm in agribusiness. The finalization of this joint deal introduces Valmie into the agricultural industry and highlights the global aspirations of its growth strategy. The management expects that the advanced technology will enable Monitoreo customer base to update their management their applications. It will also help them to save a significant amount of funds. Monitoreo offers data-collection and crop monitoring services to farm operators located in South and Central South America.
Valmie UAV’s technology is equipped with data collection and cameras equipment. It will be utilized by Monitoreo to survey crops, check out for plant diseases and opt for precision-spray fertilizers and pesticides. Offering a sharp view to the fields’ comprehensive condition, information collected and analyzed utilizing Valmie’s UAV technology is anticipated to assist boost crop health, enhance field management practices, improve yields and reduce costs.
Hammack further added that as the management turn the attention to global operations and extend the brand identities in fast growing international market, the expectations are to explore additional opportunities to advance on the core strengths of the two companies. In the last trading session, the stock price of Valmie declined 17% to close the trading session at $2.05.