Farmmi Customer Ships High-Volume Order Chile

Rhea-AI Summary

Farmmi announces high-volume order for dried Shiitake mushrooms from new customer in Chile

Positive

• Farmmi's commitment to customer support is expanding its presence in emerging markets
• Successful brand and product leadership through excellent customer support
• Leveraging customers' local sales and distribution networks to contain operating expenses

Negative

• None.

LISHUI, China, Sept. 5, 2023 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced one of its new customers shipped a high-volume order to Chile. The new order is for the Company's popular dried Shiitake mushrooms.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented: "This most recent order exemplifies our commitment to customer support as a catalyst to expand our presence in emerging markets. We continue to successfully enhance our brand and product leadership by providing excellent customer support in the global growth markets our customers are investing in. This strategy allows us to leverage our customers' local sales and distribution networks, while containing our operating expenses. Our focus remains on driving growth through both our core agriculture segments and our expanding trading business, as we work to build value for our Company and shareholders."

About Farmmi, Inc.

Established in 1998, Farmmi Inc. (Nasdaq: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. Farmmi sells its products both online and offline. For further information about the Company, please visit Farmmi's website.

Forward-Looking Statements

No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations and intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers' businesses and our end purchasers' disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China, our ability to attract and retain skilled professionals, client concentration, industry segment concentration, and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Farmmi may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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SOURCE Farmmi, Inc.