Seedo Corp Announces A Change In The Company's Name To SATIVUS TECH CORP And The Appointment Of a CEO For Its Israeli Subsidiary, Saffron Tech

Rhea-AI Summary

SATIVUS TECH CORP (OTC: SEDOD), formerly Sedo Corp, has announced a name change and a 1 for 10 reverse stock split, transitioning to the new ticker SEDOD for 20 business days before becoming SATT. This change aims to enhance the company’s market position as it develops indoor saffron farming protocols. Additionally, Tal Wilk-Glazer has been appointed as the CEO of Saffron-Tech, bringing over 20 years of experience in technology and communications, including a significant role at Salesforce. Her leadership is expected to foster growth in the emerging AgTech market.

Positive

• Name change to SATIVUS TECH CORP may enhance brand recognition.
• 1 for 10 reverse stock split could improve stock price stability.
• Appointment of Tal Wilk-Glazer as CEO brings extensive experience and new perspectives.

Negative

• None.

Tel Aviv, Israel, Dec. 13, 2021 (GLOBE NEWSWIRE) -- SATIVUS TECH CORP (OTC: SEDOD), an AgTech company that is developing the protocols to grow saffron using vertical farming technology, today announces that has formally changed its name from Sedo Corp to SATIVUS TECH CORP. The Company also wishes to announce that it has executed a 1 for 10 reverse split of its common stock and symbol change. The new symbol will be SEDOD and after 20 business days, the symbol will change to SATT.

Finally, the Company is pleased to announce that its Israeli Subsidiary, Saffron-Tech Ltd ("Saffron Tech") today appointed Tal Wilk-Glazer as the Saffron-Tech’s CEO. Wilk-Glazer joins Saffron-Tech after finishing her job at Salesforce as Salesforce's Industries Eastern Europe, Africa and Israel regional director.

Tal Wilk-Glazer (46), married + 3, brings to the position about 20 years of experience in large and leading international technology and communications companies in their field, including: Salesforce, Vlocity, cVidya, and is one of the founders of the Vibo app, a smart application for managing the construction process intended for homeowners.

Wilk-Glazer has in-depth and comprehensive knowledge in IT and telecommunications markets. Over the past few years, she has accompanied large companies in the process of digital transformation and transition to cloud computing, and has led them courageously to many successes.

She holds a bachelor's degree in medical sciences (BSc Med) from the Hebrew University and a master's degree in business administration (MBA) from the Technion.

Tal Wilk-Glazer, CEO of Saffron-Tech noted: “I am very pleased to join a fascinating company that defines and leads a completely new market category. Joining a groundbreaking Israeli agro-tech company with a unique vision, which will fundamentally change the saffron market we know today, is a real challenge and opportunity. I believe that the experience I bring with me in leading complex development processes will allow me to take the company to the next level, and I am looking forward to the agricultural, technological and business challenges we face. I am confident that the future holds for the company surprising developments and significant successes. "

About Seedo:
SATIVUS TECH CORP (OTC: SEDOD) is an AgTech company that uses advanced indoor farming technology to increase the production of low yield food products in the global marketplace. The company focuses on the research, development, and commercialization of agriculture products that are high in demand and stuck in complicated global supply chains. Seedo Corp’s subsidiary, Saffron Tech, is revolutionizing the AgTech world by creating the growing protocols to grow saffron indoors through multiple cycles per year. Seedo's technology offers a responsible and sustainable way to grow crops in a world confronted by environmental challenges and dwindling earth reserves, diminishing water sources and unstable weather conditions.

Cautionary Note Regarding Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks discussed in our Quarterly Reports on Form 10-Q and in our Annual Report on Form 10-K, including in the sections captioned "Risk Factors" and "Forward Looking Statements." Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

Investor Relations:

Gadi Levin
CEO
(800) 608-6432

Press Inquiries:

Eva Fattahi
Public Relations
info@saffron.ag

FAQ

What is the new ticker symbol for SATIVUS TECH CORP after the name change?

The new ticker symbol for SATIVUS TECH CORP is SEDOD.

Who is the newly appointed CEO of Saffron-Tech?

Tal Wilk-Glazer has been appointed as the CEO of Saffron-Tech.

What is the significance of the reverse stock split announced by SATIVUS TECH CORP?

The 1 for 10 reverse stock split may improve stock price stability and is part of the company's restructuring efforts.

What experience does Tal Wilk-Glazer bring to her CEO position at Saffron-Tech?

Tal Wilk-Glazer brings about 20 years of experience in technology and communications, including a leadership role at Salesforce.

When will the stock symbol for SATIVUS TECH CORP change to SATT?

The stock symbol will change to SATT after 20 business days from the announcement.