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AgriFORCE Latest News: Provides Updates To Shareholders

AgriFORCE Latest News: Provides Updates To Shareholders. AgTech; AgriTech; Indoor Farming; Vertical Farming; AgriBusiness; AgriBusiness Stock Market; Plant Science; Agriculture
Key Takeaways:
  1. Technological Innovations: AgriFORCE is advancing its technology, focusing on un(THINK) food processing technology, RCS Hydroxyl pathogen elimination devices, and new GrowHouse designs for enhanced food nutrition and security.
  2. Market Challenges: Despite recent share price volatility and challenging macroeconomic conditions, AgriFORCE continues progressing in market penetration and technological advancements.
  3. Product Developments: The company has developed Awakened Flours, a unique wheat-based flour with enhanced nutritional properties, and is actively promoting its pathogen-killing devices in the food industry.
  4. Strategic Moves: AgriFORCE is exploring licensing opportunities, AgTech consulting initiatives, and navigating the challenging M&A landscape, aiming for revenue generation in 2024.
  5. Long-term Vision: The company remains committed to building sustainable solutions for food nutrition and security, working towards becoming a global leader in AgTech.

AgriFORCE Growing Systems Ltd., an AgTech company focused on intellectual property and technology, recently shared an update from interim CEO and CFO Richard Wong. The company has been making significant strides in technological enhancements, market penetration, and investments, aiming to address global needs like food security, reduced food spoilage, and nutritious food.

Despite the challenges posed by the current macroeconomic environment, including inflation, high-interest rates, and geopolitical issues, AgriFORCE is progressing. The company’s technological advancements include:

These technologies aim to provide competitive food nutrition, safety, and security advantages.

AgriFORCE has made notable developments in the realm of food safety and nutrition. They have introduced Awakened Flours – a new type of wheat-based flour that retains all the nutrients of the wheat kernel but with enhanced taste and functionality. AgriFORCE’s RCS Hydroxyl devices capable of eliminating bacteria, viruses, and mold are gaining traction in the produce industry. The company is also exploring licensing opportunities for its GrowHouse technology and working on AgTech consulting solutions. AgriFORCE aims to generate revenue in 2024 and beyond, actively marketing its story to new U.S. and European investors.

AgriFORCE Latest News

AgriFORCE Invests in Radical Clean Solutions’ Hydroxyl Tech (2023/10/05)

AgriFORCE Growing Systems Ltd. acquired a 14% stake in Radical Clean Solutions (RCS), a company specializing in chemical-free Hydroxyl devices designed to eliminate pathogens, mold, mildew, and volatile organic compounds (VOCs) in various environments, including food production facilities. RCS’s Hydroxyl technology produces hydroxyl radicals that break down and oxidize pollutants at a molecular level. AgriFORCE has acquired worldwide rights to exclusively commercialize RCS’s suite of Hydroxyl devices in controlled environment agriculture (CEA) and food manufacturing, warehousing, and distribution facilities. The first shipments of RCS’s Hydroxyl devices have already been delivered to AgriFORCE’s Mexico distributor, DESICO.

AgriFORCE Growing Systems Launches AgriFORCE-RCS Hydroxyl Device (2023/09/19)

AgriFORCE has launched its AgriFORCE-RCS Hydroxyl device, a chemical-free technology that eliminates contaminants in food production facilities. Developed in collaboration with Radical Clean Solutions, the device is designed to destroy airborne and surface-based pollutants, including pathogens, mold, mildew, and volatile organic compounds, reducing food spoilage. Commercializadora DESICO secured the first purchase order. AgriFORCE plans to expand its presence in new markets worldwide and become a global leader in delivering plant-based foods and products through advanced and sustainable technology.

AgriFORCE and DESICO Join Forces (2023/08/11)

AgriFORCE and DESICO have partnered on a three-year exclusivity agreement to distribute AgriFORCE’s innovative products in Mexico. Through this collaboration, DESICO will be responsible for promotion, marketing, sales, and service of AgriFORCE’s pathogen and VOC elimination products for indoor farming and food manufacturing. The partnership is centered around AgriFORCE’s chemical-free Hydroxyl devices, which have been scientifically proven to eradicate pathogens and VOCs.

AgriFORCE’s UN(THINK) Awakened Flour (2023/08/04)

AgriFORCE’s UN(THINK) Awakened Flour has been found to have over five times the fiber, two times the protein, and 77% fewer net carbs than regular all-purpose flour. The patented CERES-MNG process creates a product that offers all the nutritional and dietary benefits of germinated wheat without compromising on flavor, texture, richness, and natural sweetness. This flour bridges the gap between health consciousness and culinary enjoyment, providing a win-win solution for both consumers and businesses in the food industry. Currently available for B2B customers in Canada and the U.S., AgriFORCE plans to expand its sales into the direct-to-consumer market by the end of the year.

Undergoes Management Restructuring (2023/07/25)

AgriFORCE is focused on commercializing its products and identifying suitable food verticals for its intellectual property. They aim to generate revenue and reduce non-essential expenses. AgriFORCE’s vision is to build an agtech platform that delivers sustainable and nutritious food worldwide.

AgriFORCE Announces New Leadership Appointments (2023/07/19)

AgriFORCE Growing Systems Ltd., an agtech company focused on promoting sustainable cultivation and plant-based products, has recently undergone significant changes in its leadership team. The company has announced the appointment of David Welch and John Meekison as Co-Chairs of the Board of Directors. Additionally, Richard Wong, the current Chief Financial Officer, has been named as the Interim Chief Executive Officer, succeeding Ingo Mueller, who will remain a member of the board.

AgriFORCE Extends Closing Date for Acquisition of Berry People (2023/07/17)

Berry People and AgriFORCE are two companies that aim to provide sustainable food solutions. AgriFORCE is an agtech company dedicated to solving global challenges related to crop production. Berry People is an integrated and branded berry business providing customers with high-quality berries year-round. The extension of the closing date of the acquisition between AgriFORCE and Berry People reflects the commitment of both parties to ensure a smooth and successful transaction. The companies are taking a prudent approach to ensure all requirements are met before finalizing the acquisition.

AgriFORCE Unveils UN(THINK) Awakened Flour (2023/06/15)

UN(THINK) Awakened Flour is a 100% natural flour that uses sprouted wheat to retain all the nutritional and dietary benefits while improving flavor, texture, and natural sweetness. It has no added ingredients and is available for B2B customers in Canada and the US. The company plans to expand into the direct-to-consumer market after the summer. AgriFORCE is currently in the second batch of trials with commercial bakeries using hard red flour. The company’s mission is to provide sustainable crops and nutritious food globally through an advanced and sustainable AgTech platform. With UN(THINK) Awakened Flour, AgriFORCE is making a significant contribution to the food industry.

AgriFORCE Growing Systems Forms Joint Venture with Agrigrada (2023/06/08)

AgriFORCE has formed a joint venture with Agrigrada to enhance its acquisition plans. The partnership will combine Agrigrada’s expertise in sustainable agroforestry projects with AgriFORCE’s knowledge portfolio. The collaboration will also open up commercial opportunities in Africa and other markets. Under the agreement, AgriFORCE will have a controlling share of the joint venture. The joint venture will be joined by Luc Boedt, Ph.D., a seasoned executive with experience in the agriculture and pharmaceutical industries. Ingo Mueller, CEO of AgriFORCE Growing Systems, expressed optimism about the joint venture and believes it will help the company maximize its acquisition strategy and accelerate the development of its business in Africa and Southeast Asia.

AgriFORCE Terminates Acquisition Efforts for Netherlands-Based Delphy Group BV (2023/06/05)

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW), an intellectual property (IP)-driven agtech firm committed to enhancing sustainable cultivation and producing food and plant products, has officially terminated its attempt to acquire Delphy Group BV. The latter is a leading agriculture and horticulture consulting company based in the Netherlands.

AgriFORCE Partners with City College of New York for a Unique Marketing Campaign (2023/05/19)

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW), an agtech company dedicated to advancing sustainable cultivation practices and food and plant products, announced today that its UN(THINK) FOODS division is collaborating with the City College of New York’s BIC Master’s Program to develop a strategic marketing campaign for its upcoming product launches.

AgriFORCE Engages TerraProtein Equity Partners to Support Planned Acquisitions (2023/05/16)

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW), an intellectual property-centric agtech company dedicated to advancing sustainable cultivation and food and plant product practices, has announced a partnership with TerraProtein Equity Partners B.V., a leading advisory firm specializing in the food and agriculture industry. TerraProtein will support AgriFORCE in its ongoing acquisition efforts.

AgriFORCE Withdraws From Stronghold & Humboldt-Bliss Agreement (2023/04/07)

The previously announced Stronghold agreement and related plans to develop a 34-acre property in the City of Coachella and the Humboldt-Bliss agreement in Barbados have been canceled, according to AgriFORCE Growing Systems Ltd., an IP-focused agtech company committed to advancing sustainable cultivation practices and food and plant products. The action is part of the company’s plan to focus on initiatives anticipated to provide near-term, positive cash flow and cut operational costs and upcoming capital expenditure obligations.

AgriFORCE Granted US Patent for FORCEGH+ Facilities (2023/02/24)

AgriFORCE Growing Systems Ltd. has been granted a patent from the USPTO for its “Structures for Growing Plants” designed for controlled environment agriculture.

AgriFORCE Enters a $28M LOI To Acquire Berry People (2023/01/24)

AgriFORCE Growing Systems has entered into a letter of intent to acquire Berry People for $28 million. The acquisition will see AgriFORCE pay $18.2 million in cash and $9.8 million in restricted shares to reach 70 percent of Berry People’s equity interests.

Has Naked Short Selling Affected AgriFORCE? (2023/01/23)

AgriFORCE Growing Systems Ltd. has provided a report on its ongoing investigation into potentially improper and/or illegal trading activities, including naked short selling, of the company’s common stock.

AgriFORCE and Barbados CEA Development Collaboration (2023/01/18)

AgriFORCE (NASDAQ: AGRI; AGRIW) is collaborating with the government of Barbados to conduct a study by the summer of 2023 for the development of controlled environment agriculture facilities (CEA) for fruits and vegetables. These facilities would be intended to supply schools, hospitals, government offices, and institutions, as well as retail and food service establishments on the island and for export to other Caribbean markets. AgriFORCE’s goal is to be a global leader in delivering plant-based foods and products through an advanced and sustainable agtech platform.

USPTO Grants AgriFORCE Patent (2023/01/13)

AgriFORCE Growing Systems Ltd. received a USPTO patent for processing grains, rice, seeds, and pulses into low-starch, high-protein, fiber-rich baking flour products. The company aims to scale up and commercialize its UN(THINK)TM foods brand and recently purchased Manna Nutritional Group.

AgriFORCE Get Shareholder Approval For Delphy Acquisition (2022/12/23)

AgriFORCE Growing Systems Ltd. announced that shareholders approved all proposals at the Company’s special meeting of its shareholders on December 15th, 2022. This includes the approval of share issuances in connection with the previously announced purchase of food processing technology from Manna Nutritional Group and the acquisitions of the Stronghold property and Delphy Groep BV. “We are in the final stages of closing the acquisition of Delphy, which we expect to complete and close in early 2023.”

AgriFORCE Granted Patent on UN(THINK) Foods Brand (2022/11/30)

AgriFORCE has obtained a patent that protects its distinctive method for producing nutrient-dense flours under the UN(THINK)™ Foods brand. The flours contains more protein and fiber than regular wheat flour and are made by organically transforming grains and pulses. This comes after AgriFORCE received a patent allowance for its FORCEGH+ Facility.

The USPTO issues a Notice of Allowance to AgriFORCE in relation to its FORCEGH+ Facility (2022/11/18)

AgriFORCE Growing Systems Ltd. has been granted a Notice of Allowance by the USPTO for its patent application titled “Structures for Growing Plants”. The patent application covers distinctive characteristics and designs related to the structures for growing plants. The company believes that IP will be a crucial pillar of its success in the market. Troy McClellan, president of AgriFORCE Solutions, said that they are continuing to build a solid patent basis and expect to get more patents in the near future that are directly relevant to their facilities, which would further confirm their ongoing work and business plan.

AgriFORCE Appoints André J. Beaulieu as General Counsel (2022/10/04)

The company has hired André J. Beaulieu, B.A., LL.B. as General Counsel. Beaulieu will manage all the company’s legal activities and oversee ongoing M&A activities. He has more than 20 years of experience in public and private sectors, including as the SVP, Head of Legal at Traction Sales and Marketing, and as General Counsel for Finning International Inc., the British Columbia Automobile Association (BCAA), the Insurance Corporation of British Columbia (ICBC), and Pivotal Corporation.

AgriFORCE Updates on Planned Delphy Acquisition (2022/09/26)

The company has announced that the closing date for the acquisition of Delphy Groep BV (Delphy) has been extended as part of an Amended Agreement to allow sufficient time for shareholder approval. The Amended Agreement reduces the total purchase price from USD$29 million to USD$17.66 million with a potential earnout of up to USD$5.99 million over 2 years. The transaction is expected to be completed in the current calendar year, subject to AgriFORCE shareholder approval.

Granted Patent from the Canadian IP Office (2022/08/25)

AgriFORCE Growing Systems Ltd. announced the granting of a patent titled “Structure for Growing Plants” from the Canadian Intellectual Property Office. The patent covers 20 claims for different inventive features relating to structures for growing plants, including the AgriFORCE GrowHouse. The GrowHouse is an environmentally friendly and clean form of growing high-value crops to Good Manufacturing Practices (GMP) pharma-grade standards. It provides optimal crop yields as near to their full genetic potential as possible, while substantially eliminating the need for the use of pesticides, fungicides, and irradiation. The patent encompasses innovative design elements of the facility structure and operational methodology.

Announces Convertible Debt Facility (2022/07/06)

The company announced a definitive agreement for a convertible debt facility of $14.025 million (which is subject to a 10% original issue discount) and up to an additional principal amount of $33 million with accredited institutional investors. The company expects to use the net proceeds of the Notes towards the closing of the previously announced acquisition of Delphy Groep BV. Additional details on the transaction will be available in the Company’s Form 8-K.

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