AgriFORCE Announces Shareholder Approval of all Proposals at Special Meeting of Shareholders

Rhea-AI Summary

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) announced that all proposals were approved during its special shareholders meeting on December 15, 2022. This includes the issuance of shares for the acquisition of food processing technology from Manna Nutritional Group and the purchase of Delphy Groep BV. The acquisition of Delphy is set to be finalized in early 2023. CEO Ingo Mueller expressed gratitude for shareholder support and emphasized the company's commitment to sustainable agricultural solutions.

Positive

• Approval of all proposals at the special shareholder meeting.
• Acquisition of Delphy Groep is expected to close in early 2023, expanding business capabilities.
• Support from shareholders indicates confidence in future growth.

Negative

• None.

Expects to Complete Acquisition of Delphy Groep in early 2023

VANCOUVER, British Columbia, Dec. 22, 2022 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (“the Company") (NASDAQ: AGRI; AGRIW), an intellectual property (IP)-focused AgTech company dedicated to advancing sustainable cultivation and crop processing across multiple platforms, today announced that shareholders approved all proposals at the Company’s special meeting of shareholders on December 15th, 2022, including the approval of share issuances in connection with the previously announced purchase of food processing technology from Manna Nutritional Group, and the acquisitions of the Stronghold property and Delphy Groep BV.

“We are pleased to report approval of all proposals at our recent special meeting of shareholders and appreciate the continued support of our shareholders,” commented Ingo Mueller, Chief Executive Officer of AgriFORCE. “Importantly, we are in the final stages of closing the acquisition of Delpy, which we expect to complete and close in early 2023.”

About AgriFORCE

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is an agtech company focused on building an integrated agtech platform that combines the best technology, intellectual property and knowledge to solve an urgent problem – providing the best solutions to help drive sustainable crops and nutritious food for people around the world. Looking to serve the global market, the Company’s current focus is on North America, Europe and Asia. The AgriFORCE vision is to be a leader in delivering plant-based foods and products through an advanced and sustainable agtech platform that makes positive change in the world—from seed to table. Additional information about AgriFORCE is available at: www.agriforcegs.com.

Follow AgriFORCE on Twitter: @agriforcegs
Follow AgriFORCE on Facebook: AgriFORCE Growing Systems Ltd.
Connect with AgriFORCE on LinkedIn: AgriFORCE Growing Systems Ltd. 

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities of the issuer. Any offer to sell or solicitation of an offer to buy securities of the issuer may only be made pursuant to a valid prospectus pursuant to an effective registration statement or pursuant to a valid exemption from registration under the Securities Act of 1933, as amended and the rules and regulations promulgated thereunder.

Company Contact:
Ian Pedersen
Tel: (604) 757-0952
Email: ipedersen@agriforcegs.com

Investor Relations:
Crescendo Communications, LLC
David Waldman/Natalya Rudman
Tel: (212) 671-1021
Email: AGRI@crescendo-ir.com

Media Relations:
Peppercomm
Hannah Robbins
Tel: (415) 633-3205
Email: AgriFORCE@peppercomm.com

FAQ

What proposals were approved at AgriFORCE's shareholder meeting?

All proposals, including share issuances for acquisitions, were approved.

When is AgriFORCE expected to complete the acquisition of Delphy Groep?

The acquisition of Delphy Groep is expected to be completed in early 2023.

What does AgriFORCE aim to achieve with its acquisitions?

AgriFORCE aims to enhance sustainable cultivation and crop processing technologies.

What is the significance of the acquisition of Delphy Groep for AgriFORCE?

The acquisition is expected to improve AgriFORCE's operational capabilities in agtech.