AgriFORCE Growing Systems Ltd
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Based in Canada
Company profile

AgriFORCE Growing Systems Ltd. is a Canada-based agriculture-focused technology company. The Company is engaged in developing systems that are intended to deliver reliable and financially robust solutions for high value crops through its facility design and automation intellectual property to businesses and enterprises. It Is focused on transforming modern agricultural development through its patent pending facility design and automated growing system. The Company's methods are designed to produce pesticide-free, locally cultivated crops. The Company's automated growing system, AgriFORCE grow house is designed to produce in virtually any environmental condition and to optimize crop yields to as near their full genetic potential possible while eliminating the need for the use of pesticides, fungicides and/or irradiation. Its subsidiaries include AgriFORCE Investments Inc., West Pender Holdings, Inc., AGI IP Co., West Pender Management Co. and DayBreak Ag Systems Ltd.

Closing Price
$2.50
Day's Change
-0.25 (-9.09%)
Bid
--
Ask
--
B/A Size
--
Day's High
2.78
Day's Low
2.50
Volume
(Light)
Volume:
905,156

10-day average volume:
1,999,056
905,156

AgriFORCE Growing Systems Receives Notice of Allowance from Canadian Intellectual Property Office for AgriFORCE GrowHouse Facility Related Patent

8:50 am ET April 20, 2022 (Globe Newswire) Print

AgriFORCE Growing Systems Ltd. ("the Company") (NASDAQ: AGRI; AGRIW), an intellectual property (IP)-focused AgTech company dedicated to advancing sustainable cultivation and crop processing across multiple verticals, today announced that it has received a Notice of Allowance from the Canadian Intellectual Property Office for its patent application titled "Structures for Growing Plants." This allowed patent corresponds to the previously announced patent application in the U.S. and related AgriFORCE patent, trademark, and copyright applications previously filed in the U.S., Asia, Europe, the Caribbean, and Central/South America.

The allowed patent application for AgriFORCE GrowHouse has 20 claims for different inventive features relating to structures for growing plants. This encompasses innovative design elements of the GrowHouse structure and operational systems, such as transmissive panels that maximize the full light spectrum; automation; Internet-of-Things (IoT) technologies to artificial intelligence (AI); enhanced insulation for maximizing energy efficiency; and a sealed positive pressure environment that provides optimally managed crop cultivation. The Company has another patent family for automated growing systems, and based on its positive International Preliminary Report on Patentability, allowance for the second patent family for automated growing systems is expected to follow soon.

Troy McClellan, President of AgriFORCE Solutions, commented: "This allowed patent is significant to our business as it further validates the uniqueness of our IP around the AgriFORCE GrowHouse. It is encouraging to see that all of the claims made in the AgriFORCE GrowHouse patent application have been acknowledged and subsequently allowed, without exception, which is rare for complex applications such as ours. The GrowHouse design is the culmination of years of development, which we believe represents the next generation of indoor growing for high value crops. Our revolutionary facility design harnesses the power of the sun, while providing precise and consistent growth cycles. The combination of our unique structure, energy efficient design, and automated growing system, can be utilized in virtually any climate to realize higher quality and higher yield crops."

Ingo Mueller, CEO of AgriFORCE Growing Systems, added, "This notice of allowance constitutes another key milestone in our strategy to build our business supported by strong IP and knowledge. We are witnessing very strong demand due to the value proposition for growers, including increased yield and improved operating economics."

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.

Follow AgriFORCE on Twitter: @agriforcegs

Follow AgriFORCE on Facebook: AgriFORCE Growing Systems Ltd.

Connect with AgriFORCE on LinkedIn: AgriFORCE Growing Systems Ltd.

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 Pedersen

Tel: (604) 757-0952

Email: ipedersen@agriforcegs.com

Investor Relations:

Crescendo Communications, LLC

David Waldman/Natalya Rudman

Tel: (212) 671-1021

Email: AGRI@crescendo-ir.com

Media Relations:

Peppercomm

Hannah Robbins

Tel: (415) 633-3205

Email: AgriFORCE@peppercomm.com

https://ml.globenewswire.com/media/82227334-e6d9-44fe-b35b-87c471f7efa5/small/agriforcelogo-jpg.jpg

https://ml.globenewswire.com/media/82227334-e6d9-44fe-b35b-87c471f7efa5/small/agriforcelogo-jpg.jpg

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