Happy Valley Nutrition Limited announced a major milestone whereby North American (USA) dairy ingredient distributor BLI, has entered into a conditional supply agreement (`Supply Agreement') to source batch-formulated nutritional milk powders manufactured at Happy Valley's nutritional grade processing facility in torohanga, New Zealand, which is in the first phase of its construction. Once operational, Happy Valley's facility will have capacity to produce 35,000 metric tonnes per annum of nutritional ingredients and formulaic products and aims to commence operations in mid-CY 2023. Supply Agreement Framework and Key Conditions Precedent. Purchase of a minimum of 4,800 metric tonnes per annum of batch-formulated nutritional milk powders, destined for export markets. Conditional on completion of Happy Valley's facility and satisfaction of BLI's quality assurance requirements. Three-year minimum term.