AgriFORCE Regains Compliance with Nasdaq Continuing Listing Requirements
VANCOUVER, British Columbia, Oct. 27, 2023 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (“the Company”) (NASDAQ: AGRI; AGRIW), an intellectual property (IP) focused AgTech company, today announced that the Company received notice from Nasdaq on October 26, 2023, indicating that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
Richard Wong, Interim CEO and CFO of AgriFORCE, commented, “Maintaining our Nasdaq listing will help enhance our visibility during this exciting period for the Company. Specifically, we are commencing the commercial launch of our patented UN(THINK) Awakened Flour, which has over 5x the fiber, up to 2x the protein and 23% less net carbs compared to regular all-purpose baking flour. At the same time, we are beginning to realize the benefits of our strategic investment and exclusive worldwide license to Radical Clean Solutions Ltd.’s (RCS) proprietary and patent-pending chemical-free Hydroxyl devices within the Controlled Environment Agriculture and Food Manufacturing Sectors. We are witnessing growing interest in this proven technology that eliminates pathogens, mold, mildew and VOCs in food production facilities, and indoor farms. Overall, we are positioning ourselves as a leader within the AgTech space, which we believe will generate significant long-term value for shareholders.”
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is an AgTech company focused on building an integrated AgTech platform that combines the best technology, intellectual property, and knowledge to solve an urgent problem – providing the best solutions to help drive sustainable crops and nutritious food for people around the world. The AgriFORCE vision is to be a global leader in delivering plant-based foods and products through an advanced and sustainable AgTech platform that makes positive change in the world—from seed to table. 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. This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities of the issuer. Any offer to sell or solicitation of an offer to buy securities of the issuer may only be made pursuant to a valid prospectus pursuant to an effective registration statement or pursuant to a valid exemption from registration under the Securities Act of 1933, as amended and the rules and regulations promulgated thereunder.
Crescendo Communications, LLC
David Waldman/Alexandra Schilt
Tel: (212) 671-1021
Released October 27, 2023