SEEDO CORP APPOINTS AVI STERN FROM WIX.COM TO BOARD OF DIRECTORS

Rhea-AI Summary

On August 24, 2021, Seedo Corp (OTC: SEDO), an Agtech company focused on saffron cultivation using vertical farming, appointed Avi Stern as an Independent Director. Stern, the VP of Finance at Wix.com, brings significant expertise in regulatory oversight and finance management. This strategic move aims to bolster Seedo's vision for a reliable saffron supply and prepare for a proposed NASDAQ up-listing. The company secured a $1 million grant from the Israeli Innovation Authority for its R&D efforts and plans to triple saffron production through innovative growing conditions.

Positive

• Appointment of Avi Stern as Independent Director adds valuable expertise.
• Secured $1 million grant from the Israeli Innovation Authority for R&D.
• Successful completion of two saffron harvest cycles, with plans to triple production.

Negative

• None.

Tel Aviv, Israel, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Seedo Corp. (OTC: SEDO), an Agtech company that is developing the protocols to grow saffron using vertical farming technology, today announced the appointment of Avi Stern to its board of directors as an Independent Director. Stern currently serves as the Vice President of Finance at Wix.com, a leading cloud-based website development platform with millions of users worldwide.

“We are pleased to welcome Avi Stern to our board as an Independent Director,” says Dr.Gil Feiler, Chairman Seedo Corp.” Avi is coming from one of largest market cap Israeli companies and is a recognized leader whose extensive knowledge in regulatory oversight, business development and finance management will be instrumental as we execute on our vision of delivering a reliable, large-scale and premium supply of saffron to the market and preparing for a proposed up-listing to the NASDAQ capital market.”

“Seedo Corp. is quickly advancing its presence in the Agtech industry, and I am delighted to join the board of directors as Independent Director during a time of great success and continued momentum,” says Avi Stern.” I see enormous potential in Seedo Corp’s capabilities and its potential to disrupt the market in the future. I look forwarded to contributing to Seedo Corp’s future growth as the company implements new strategic initiatives.”

Prior to his role as Vice President of Finance at Wix.com, Stern served in several public and private companies in executive finance roles.

Seedo Corp. subsidiary, Saffron Tech, was recently awarded a $1 million grant from the Israeli Innovation Authority to support its R&D efforts in growing saffron using vertical farming technology. The company has already successfully harvested two cycles of saffron in its indoor growing lab. Traditional agriculture only produces saffron once annually. The company is now designing the growing conditions which it believes will enable it to produce a third cycle, tripling the amount of saffron available to the marketplace

About Seedo:

Seedo Corp. (OTC: SEDO) is an agtech company that focuses on the research, development, and commercialization of agriculture products that are high in demand but are hindered by the low yields and specifications required by traditional farming. Seedo's technology is aimed at offering 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 relating to our ability to successfully execute a smooth transition of CFO functions as well as our ability to retain and recruit qualified executives; uncertainties related to, and failure to achieve, the potential benefits and success of our senior management team and organizational structure; our ability to successfully compete in the marketplace; our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; compliance, regulatory and litigation matters; other financial and economic risks; and other factors 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

Contact:

David Freidenberg,
Chief Executive Officer
info@saffron.ag
+1 (800) 608-6432

FAQ

Who is Avi Stern, and what role has he taken at Seedo Corp?

Avi Stern has been appointed as an Independent Director on the board of Seedo Corp, bringing extensive finance and regulatory experience.

What is the significance of Seedo Corp's NASDAQ up-listing plans?

The proposed NASDAQ up-listing is aimed at enhancing Seedo Corp's visibility and access to capital markets.

How much funding did Seedo Corp receive for its saffron R&D?

Seedo Corp received a $1 million grant from the Israeli Innovation Authority to support its saffron cultivation R&D efforts.

What advancements has Seedo Corp made in saffron production?

Seedo Corp has successfully harvested two cycles of saffron in its indoor lab and aims to triple production through optimized growing conditions.

What expertise does Avi Stern bring to Seedo Corp's board?

Avi Stern brings expertise in regulatory oversight, business development, and financial management from his role at Wix.com.