Genvor Provides Fiscal First Quarter 2024 Corporate Update
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New CEO Appointment and OTCQB Venture Market Listing to Drive Commercialization Momentum Ahead of Planned FY25 Uplisting
CHAPEL HILL, NC / ACCESSWIRE / February 15, 2024 / Genvor Incorporated (OTCQB:GNVR) ("Genvor" or the "Company"), a developer of sustainable plant health solutions leveraging patented peptides, today provided a corporate update in conjunction with the filing of its Quarterly Report on Form 10-Q for the fiscal first quarter ended December 31, 2023.
Fiscal First Quarter 2024 and Subsequent Company Highlights:
- Appointed global agribusiness executive Chad Pawlak, Sr. as Chief Executive Officer, with Judith Miller transitioning from her successful Interim Chief Executive Officer position to serve as Chief Business Officer.
- Genvor and USDA scientists published a peer reviewed paper in The American Phyto-pathological Society (APS) focused on its revolutionary antimicrobial peptides ("AMPs"), titled "Broad-Spectrum Antimicrobial Activity of Synthetic Peptides GV-185 and GV-187", serving as validation by USDA and Genvor scientists that Genvor AMPs are highly effective against harmful fungi relative to competing peptide solutions.
- Began trading on the OTCQB® Venture Market under the ticker symbol "GNVR."
- Engaged MZ Group to lead a strategic investor relations and shareholder communications program across all key markets concurrent with the commencement of trading on the OTCQB Venture Market in the fourth quarter of 2023.
The full text of the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2023 was filed with the SEC and can be found here.
Management Commentary
"The first quarter of fiscal year 2024 was highlighted by continued momentum in our research partnership with the United States Department of Agriculture ("USDA") to validate our antimicrobial peptides - as well as our ongoing evolution in the capital markets, having become a fully reporting public company on the OTCQB Venture Market," said Chad Pawlak, Chief Executive Officer of Genvor. "In January I was privileged to take the position of CEO at a critical inflection point in the history of Genvor, and we are now focused on leading the company into its exciting next phase as we advance the next generation of sustainable plant health solutions.
"Genvor Chief Scientific Officer, Dr. Jesse Jaynes, recently published a peer reviewed paper in partnership with the USDA. Appearing in The American Phyto-pathological Society scientific journal, the paper explored the findings from our Collaborative R&D Agreement ("CRADA") to validate that our patented AMPs can improve upon a plant's natural defenses to protect against pathogens in a variety of crops. The paper found that Genvor's peptides demonstrated superior abilities to inhibit fungal and bacterial growth as compared to peptides that have been tested in the past. These attributes make our peptides an attractive candidate for commercialization in the form of a seed trait or biological foliar applications.
"Our December 2023 listing on the OTCQB Venture Market represents an important go-public milestone for Genvor as we seek to develop our portfolio of patented peptides. Entering the public markets should help to raise our profile within the investment community, which we believe will provide opportunities to improve liquidity and broaden our shareholder base amongst both retail and institutional investors. Looking ahead, we will seek to uplist to a national exchange - such as Nasdaq or the NYSE - as soon as we can reasonably do so. This will allow us to best act upon the growing investor interest in the Ag biologicals sector.
"As we move into 2024 and beyond, our goal is to engage with strategic partners and industry majors to further the development and commercialization of our patented peptides. These efforts - combined with the pursuit of additional Cooperative R&D Agreements with the USDA - should position us for what we believe will be a breakthrough year for Genvor. We look forward to updating investors on our commercialization progress in the months ahead as we remain focused on operational execution and seek to create sustainable, long-term value for our shareholders," concluded Pawlak.
About Genvor
Genvor Incorporated (OTCQB:GNVR) is a developer of sustainable plant health solutions, with a portfolio of patented peptides to provide crops with anti-pathogen and enhanced nutritional properties through next-generation biological foliar application as well as transgenic seed traits. Supported by globally renowned scientists and a USDA partnership, Genvor leverages its licensing-first business model with active trait developments underway for a variety of crops including corn, citrus, rice, cotton, soybean, flax, and potato. To learn more, please visit www.genvor.com or follow us on LinkedIn, Facebook or Instagram.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include information about management's view of the Company's future expectations, plans and prospects, including future business opportunities or strategies and are generally preceded by words such as "may," "believe," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of known and unknown risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Certain of these risk factors and others are included in documents the Company files with the Securities and Exchange Commission, including but not limited to, the Company's Annual Report on Form 10-K, as well as subsequent reports filed with the Securities and Exchange Commission.
Investor Relations Contact:
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
GNVR@mzgroup.us
www.mzgroup.us
SOURCE: Genvor Incorporated
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