Binding LOI Offer by Novagent Corp. For Apex Farm Corp. Patents

Rhea-AI Summary

Novagant Corp. (OTC PINK:NVGT) has signed a binding LOI to acquire Apex Farms Corp. patents to enhance its portfolio in agricultural technology. The company currently holds two patents and has modified the Apex Vertical System for residential use, targeting retail sales through major stores. CEO Alexander M. Woods-Leo emphasizes that these patents will shield Novagant from competition and support sustainable farming practices. Apex Farms specializes in a hydroponic system capable of significantly reducing water usage while maximizing crop yield.

Positive

• Acquisition of Apex Farms patents enhances Novagant's intellectual property.
• Introduction of a residential variant of the Apex Vertical System expands market potential.
• Hydroponic system technology promotes sustainable farming, addressing environmental concerns.

Negative

• None.

WILMINGTON, DE / ACCESSWIRE / February 11, 2021 / Novagant Corp. (OTC PINK:NVGT) a specialty investment company that develops agriculturally based technology companies announced today a binding LOI has been made for the acquisition of Apex Farms Corp. patents.

To date, the company has been issued a total of two patents 9,795,097 and 10,004,188.

"Originally, the Apex Vertical System was designed for commercial usage. However, after receiving an increased number of inquiries for a residential variation of the system, Apex modified the original system for home use." Mr. Robert White went on to say "The company has designed a smaller variation of the Apex Vertical system that can be boxed and sold at retail stores such as Lowes, Home Depot, and even Amazon.''

"Apex Farm Corp. patents are a good addition to Novagant that will help protect Novagant from patent infringements by the competition." says CEO Mr. Alexander M. Woods-Leo of the Novagant Corporation. "Hydroponic farms offer a pathway towards a more sustainable food ethic that prioritizes the health of our food, bodies and environment without the heavy use of chemicals. Far from being a pipe-dream, hydroponic farming is already being rapidly integrated into current food networks."

About Apex Farms Corp.

Apex Farms Corp. engages in the development, manufacture, operation, and integration of the Apex Vertical Growing System, a high density vertical growing system for both commercial and residential use. The Apex Vertical Growing System grows fresh, nutritious, and leafy green vegetables in an "A" frame design vertically arranged for easy harvest. The patented hydroponic system can accommodate a wide diversity of plants, including vine, root, flower and greens. The Apex farming system is scalable for uses in a small household garden or a large commercial farming operation. The product can be operated in any suitable environment and will reduce water usage by over 85%. Our technology allows the customer to grow up to 10 times more product per square foot to that of traditional outdoor soil farms.

However post transaction Apex Farms Corp. will be focusing all of its attention on its remaining assets with an all out focus in farming and distribution of produce.

Visit Apex on the web: https://apexfarming.com/

About Novagant Corp.:

Novagent Corp. is a specialty investment company which engages in developing, marketing and managing growth stage companies in a variety of agriculturally based businesses. The Company's management team is seeking to acquire other innovative high revenue ­producing commercial operations that complement our existing portfolio by means of additional acquisition targets. The company was founded in 1987.

For more information about the Company, please visit www.novagantcorp.com.

FORWARD-LOOKING STATEMENTS:

Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's affiliates that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.

CONTACT:

Alex Leo
info@novagantcorp.com

SOURCE: Novagant Corp.

View source version on accesswire.com:
https://www.accesswire.com/629248/Binding-LOI-Offer-by-Novagent-Corp-For-Apex-Farm-Corp-Patents

FAQ

What recent acquisition did Novagant Corp. announce?

Novagant Corp. announced a binding LOI for the acquisition of Apex Farms Corp. patents.

What is the significance of the Apex Farms patents for Novagant?

The patents will protect Novagant from competition and enhance its agricultural technology offerings.

How does the Apex Vertical System benefit residential consumers?

The modified Apex Vertical System allows residential users to grow vegetables efficiently and sustainably.

What impact does hydroponic farming have according to Novagant's CEO?

Hydroponic farming is seen as a sustainable solution that reduces chemical use and supports food health.

What technologies are involved in the Apex Vertical Growing System?

The system is a patented hydroponic technology capable of growing diverse plants in a compact, water-efficient manner.