AgriFORCE Growing Systems Provides Update on Acquisition of Delphy, a Leading European Agriculture/Horticulture and AgTech Consulting Firm
12 May 2022 - 11:00PM
GlobeNewswire Inc.
AgriFORCE Growing Systems Ltd. (“the
Company") (NASDAQ: AGRI; AGRIW), an IP-focused AgTech
company dedicated to advancing sustainable cultivation and crop
processing across multiple verticals, today announced that
following the recent definitive agreement to acquire Delphy Groep
BV (Delphy), a Netherlands-based AgTech consultancy firm, the
parties have mutually agreed to extend the closing date until the
end of July 2022, in order to allow both parties more time to
complete certain closing conditions, including finalization of the
Delphy audit. AgriFORCE and Delphy remain fully committed to the
transaction.
AgriFORCE CEO Ingo Mueller commented, “As we
work towards finalizing the administrative details related to the
Delphy acquisition, we are steadily advancing our plans and
strategies to commence immediately post closing. We believe the
business synergies between our two organizations are substantial,
and the combination positions us to become a meaningful player in
the global agricultural market.”
Jacco van der Wekken, CEO of Delphy, further
noted, “We look forward to finalizing our partnership completing
the merger with AgriFORCE, which would immediately expand our
global footprint, product pipeline, and intellectual property. We
look forward to leveraging our deep industry knowledge and global
customer base to accelerate the growth of our combined
companies.”
About DelphyCreated in 2013 by
the merger of DLV – a privately held former Department of the Dutch
Ministry of Agriculture – and GreenQ – a company focusing on
consultancy, education, projects and R&D innovation behind its
Improvement Centres, Delphy is a leading consultancy and R&D
improvement company based in the Netherlands, with over 200
employees and global operations. Delphy’s name is based on the
classical antiquity name 'Delphi' which was the place where people
came together with questions about crops, fertility and harvesting.
Delphy stands for Worldwide Expertise in Food and Flowers.
About AgriFORCE
AgriFORCE Growing Systems
Ltd. (NASDAQ: AGRI; AGRIW) is an
AgTech company focused on the development and acquisition of crop
production know-how and intellectual property augmented by advanced
AgTech facilities and solutions. Looking to serve the global
market, the Company’s current focus is on North America, Europe,
and Asia. The AgriFORCE vision is to be a leader in delivering
plant-based foods and products through advanced and sustainable
AgTech solution platforms that make positive change in the
world—from seed to table. The AgriFORCE goal: Clean. Green.
Better. Additional information about AgriFORCE is available
at: www.agriforcegs.com.
This press release contains forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. Statements
other than statements of historical facts included in this press
release may constitute forward-looking statements and are not
guarantees of future performance, condition or results and involve
a number of risks and uncertainties. Actual results may differ
materially from those in the forward-looking statements as a result
of a number of factors, including those described from time to time
in our filings with the Securities and Exchange Commission and
elsewhere. The Company undertakes no duty to update any
forward-looking statement made herein. All forward-looking
statements speak only as of the date of this press release.
Company Contact:Ian PedersenTel: (604)
757-0952Email: ipedersen@agriforcegs.com
Investor Relations:Crescendo Communications,
LLCDavid Waldman/Natalya RudmanTel: (212) 671-1021Email:
AGRI@crescendo-ir.com
Media Relations:PeppercommHannah Robbins Tel:
(415) 633-3205Email: AgriFORCE@peppercomm.com
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