AgriFORCE Growing Systems Announces Appointment of Highly Acclaimed Accounting and Business Advisory Executive, Richard Levychin, to Board of Directors

Rhea-AI Summary

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) has appointed Richard Levychin to its board of directors. Levychin, a seasoned accounting and business advisory expert, will serve on key committees, including Executive Compensation and Audit. With over 25 years of experience, he brings expertise in financial oversight and compliance, crucial as AgriFORCE prepares to launch its facilities in the United States. CEO Ingo Mueller anticipates Levychin's contributions will enhance the company's financial reporting standards and support its growth strategy.

Positive

• Appointment of Richard Levychin brings valuable accounting and advisory expertise.
• His experience will support AgriFORCE's financial oversight and growth strategies, particularly as they prepare to launch U.S. facilities.

Negative

• None.

VANCOUVER, British Columbia, July 14, 2021 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), an innovative agriculture-focused technology company that delivers reliable, financially robust solutions for high value crops through proprietary facility design and automation, announces that it has appointed Richard Levychin, a highly acclaimed accounting and business advisory executive, to the Company’s board of directors. Mr. Levychin will serve on the board's Executive Compensation, Audit and Nominating and Corporate Governance Committees.

Richard Levychin, CPA, CGMA, is a Partner in Galleros Robinson’s Commercial Audit and Assurance practice where he focuses on both privately and publicly held companies. Prior to taking this position in October 2018, Richard was the managing partner of KBL, LLP, a PCAOB certified independent registered accounting firm, since 1994. Mr. Levychin has over 25 years of accounting, auditing, business advisory services and tax experience working with both privately owned and public entities in various industries including media, entertainment, real estate, manufacturing, not-for-profit, technology, retail, technology, and professional services. His experience also includes expertise with SEC filings, initial public offerings, and compliance with regulatory bodies. As a business adviser, he advises companies, helping them to identify and define their business and financial objectives, and then provides them with the on-going personal attention necessary to help them achieve their established goals.

Mr. Levychin has written articles on a wide range of topics, which have been featured in several periodicals including Dollars and Sense, New York Enterprise Report, Black Enterprise Magazine, Forbes, Business Insider, and The Network Journal. He has also conducted seminars on a wide range of business topics including SEC matters and taxation for several organizations including the Black Enterprise Entrepreneurs Conference, the Entrepreneurs’ Organization (New York chapter) and the Learning Annex.

Mr. Levychin is a member of several organizations including the New York State Society of Certified Public Accountants, the National Association of Tax Professionals, and the American Institute of Certified Public Accountants (AICPA). Richard was a founding member of the AICPA’s National Diversity and Inclusion Commission. Richard is a member and a board member of the New York Chapter of the Entrepreneurs’ Organization (“EO”), a dynamic, global network of more than 15,000 business owners in over 50 countries.

In 2018, Mr. Levychin was a recipient of the 5 Chamber Alliance MWBE Award from the Manhattan Chamber of Commerce. In 2016 Richard was presented with the 2016 Arthur Ashe Leadership Award. In 2015 Richard was presented by his alma mater Baruch College with the Baruch College Alumni Association’s “Alumni Leadership Award for Business”. In 2013, Richard received the title of Best Accountant from The New York Enterprise Report. Mr. Levychin is a past winner of The Network Journal’s prestigious “40 Under 40” award. He is a graduate of Baruch College, where he received a Bachelors in Business Administration Degree (Accounting).

Said Mr. Levychin: “I am excited to join AgriFORCE at this key inflection point in the Company’s development, and look forward to providing my expertise in accounting, financial oversight, taxation and business strategy to help accelerate the company’s growth plans.”

"We look forward to Richard’s contributions to the board as we prepare for our next phase of growth," said Ingo Mueller, CEO of AgriFORCE. "His impressive accounting and business, tax and advisory experience will be important as we prepare to launch our first facilities in the United States. His experience will be an exceptional asset as we seek out, evaluate and potentially acquire innovative and accretive companies to further accelerate our growth. In addition, we look forward to his contributions on various board committees, including our audit committee, supporting our commitment to the highest standards of financial reporting, corporate governance and tax compliance and mitigation.”

About AgriFORCE

AgriFORCE, Inc. (NASDAQ: AGRI) is dedicated to transforming modern agricultural development through our proprietary patent pending facility design and automated growing system. Our methods are designed to produce high-quality, pesticide-free, locally cultivated crops, cost-effectively and with the ability to quickly scale, in virtually any climate. Designed to meet both European Union Good Manufacturing Practices standards and the United States Department of Agriculture organic equivalent, we intend to utilize our platform as an industry accepted standard for, among other things, controlled environment plant-based vaccine and pharmaceutical biomass, hydroponics and food production.

Clean|Green|Local Agriforcegs.com

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.

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:
AHA Creative Strategies Inc.
Ruth Atherley
Tel: (604) 846-8461
Email: ruth@ahacreative.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4444fb0d-bc16-43e3-b990-3b607f202270

FAQ

Who is Richard Levychin, newly appointed to AgriFORCE's board?

Richard Levychin is a highly acclaimed accounting and business advisory executive with over 25 years of experience, now serving on AgriFORCE's board.

What committees will Richard Levychin serve on at AgriFORCE?

Levychin will serve on the Executive Compensation, Audit, and Nominating and Corporate Governance Committees.

How will Richard Levychin's appointment impact AgriFORCE (NASDAQ: AGRI)?

His expertise in financial oversight and strategic growth is expected to enhance AgriFORCE's operational readiness, especially for upcoming U.S. facility launches.

What is AgriFORCE's focus as stated in the press release?

AgriFORCE is focused on transforming agricultural development with proprietary facility designs for high-quality, pesticide-free crops.

When was Richard Levychin appointed to AgriFORCE's board?

Richard Levychin was appointed to AgriFORCE's board of directors on July 14, 2021.