Wide Open Agriculture (ASX:WOA) said that its offtake and distribution agreement with Chinese chemical distributor Univar Solutions China will not have an immediate financial impact on the company, according to a Thursday filing with the Australian bourse.
While the agreement includes a minimum purchase obligation of 50 tonnes of lupin protein isolate within 12 months following the preparation period, WOA confirmed that revenue will only be recognized once a sale price is agreed.
Shares of the company fell 27% at market close.
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