AgriFORCE Provides Update on Acquisition of Berry People LLC, a Premier Berry Distributor
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VANCOUVER, British Columbia, July 14, 2023 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW), an intellectual property (IP)-focused AgTech company dedicated to advancing sustainable cultivation and crop processing across multiple platforms, today announced that following the recent Binding LOI to acquire Berry People, LLC (“Berry People”), the parties have mutually agreed to extend the closing date until the end of August 2023, in order to allow both parties more time to complete certain closing conditions, including finalization of the Berry People audit. AgriFORCE and Berry People remain fully committed to the transaction.
ABOUT BERRY PEOPLE LLC
Berry People is an integrated and branded berry business with an increasingly global footprint, and a scalable platform model. We are committed to providing our customers with a balanced portfolio of all four berries with quality, in brand, organically and conventionally, and on a year-round basis. Likewise, we are committed to providing our grower-operators with competitive distribution at increasing scale over time, the latest in licensed and developed IP, and with administration and other necessary resources to build trustworthy farm operations for all members of our broader Berry People community. Additional information about Berry People is available at: https://berrypeople.com/
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. The AgriFORCE vision is to be a global 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.
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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/Alexandra Schilt
Tel: (212) 671-1021
Email: AGRI@crescendo-ir.com
Media Relations:
Peppercomm
Hannah Robbins
Tel: (415) 633-3205
Email: AgriFORCE@peppercomm.com
FAQ
What is the latest announcement from AgriFORCE Growing Systems Ltd. (AGRI; AGRIW)?
What is the reason for the extension of the closing date?
What is the commitment of AgriFORCE and Berry People to the transaction?
