AgriFORCE
Growing Systems Announces Definitive
Agreement
to
Acquire
Food
Production & Processing IP from Manna Nutritional Group
(MNG)
Adds patent
pending technologies for the natural processing and conversion of
grains, pulses and root vegetables to low starch, low sugar, high
protein and fiber rich baking flours, juices, sweeteners
and
other products.
Independent
testing indicates that MNG's all-natural soft white wheat baking
flour will provide up to 13 times more fiber, over
4 times more protein and only 16% of the starch found in
all-purpose baking flour.
Plans launch of
proprietary AgriFORCE branded food products for the growing
wellness and
health conscious
consumers
Vancouver,
B.C. September 15th, 2021
–
AgriFORCE Growing Systems Ltd. ("the
Company") (Nasdaq: AGRI), an innovative AgTech
company focused on developing and acquiring agriculture IP that
advances sustainable cultivation and processing for crops across
multiple verticals, announces that it has entered into a material
definitive agreement to acquire the intellectual property (IP) from
Manna Nutritional Group LLC (MNG), a privately held firm based in
Boise, Idaho. The IP encompasses patent-pending technologies to
naturally process and convert grain, pulses and root vegetables,
resulting in low-starch, low-sugar, high-protein, fiber-rich flour
products, as well as a wide range of breakfast cereals, juices and
natural sweeteners. The core process is covered under pending
patent application in the U.S. and
key International Markets.
This all-natural process is
designed to unlock nutritional properties, flavor and other
qualities in a range of modern, ancient and heritage grains, pulses
and root vegetables– creating specialized all-natural baking and
all-purpose flours, sweeteners, juices, naturally sweet cereals and
other valuable products, providing numerous opportunities for
dietary, nutritional, performance and culinary
applications.
Key
identified advantages of this production process:
The
Company's independent lab testing indicates that MNG's soft white
wheat baking flour contains 46% fiber, 24% protein and only 8%
starch, which results in 1300% more fiber, 433%
more protein and provides only 16% of the starch found in
standard/commercial all-purpose baking flour.
The resulting products deliver a
significantly lower carb content than conventional processed
flour-based food products and are designed to provide significantly
higher levels of plant-based protein and natural fiber in addition
to other nutrients and enzymes – without compromising
taste, texture and quality.
Ingo Mueller, CEO
of AgriFORCE, stated, "This
acquisition is the next step in our comprehensive
strategy to
leverage IP to produce more sustainable, natural and better-quality
food, medicine and plant-based products. Imagine
being able to eat
much healthier bread, pasta, cereals and a range of other products
made from wheat, seeds, pulses and legumes – that also taste good."
He added: "By capturing even a small portion of the overall flour
market with our own brand and through relationships as an
ingredient supplier, we believe this IP represents an opportunity
that could transform the landscape of food production across a
multitude of categories."
David Naccarato, COO and Acting
CEO of Manna Nutritional Group, commented, "Consumers strive to eat
healthy foods, but we often revert to unhealthy options because of
the taste, smell, and texture." He continued: "We believe that people should
not compromise the flavor, texture, aroma or quality of their
favorite dishes in order to eat healthier. Our proprietary
process, which we have been
perfecting for the past 6 years, is designed to provide the key ingredients
for many of the foods that people want to eat, combined with the
nutrition and flavor they desire. We look forward to a synergistic
relationship with AgriFORCE as we share the same vision, commitment
and company culture – all in support of providing consumers with
healthier choices."
Mauro
Pennella, President of AgriFORCE Brands division
further noted, "I am excited to
spearhead the development of these new products, which we will aim
to commercialize towards consumers, as well as through established
food producers. We expect to launch our first products, which
will include a number of specialized baking flours, in 2022." He
added: "We believe that we have a transformative opportunity to
generate a billion dollars business with all-natural products in
the flours, bakery and snack categories, as well as dairy
alternatives, high-performance drinks, nutrition and performance
bars and other categories that will cater to the highly motivated
and growing demographic of wellness-focused millennials and
health-conscious baby boomers. In North America, these groups alone
represent over 40% of the population and more than half of food
expenditures. Plant based proteins, such as meat alternatives, are
changing the game for burgers, so imagine what a high fiber, high
protein, low carb wheat bun could add to the mix."
About Manna
Nutritional Group LLC
Manna Nutritional Group LLC is a
privately held developmental stage firm based in Boise, Idaho. The
Manna mission is to transform the diet and health of consumers
through their unique process that naturally transforms grains,
seeds and pulses into delicious, nutritious, high-fiber,
high-protein and ultra-low-starch baking flours. The Manna team has
created an opportunity for consumers to have their cake (and bread,
muffins and more) in a new, delicious and nutritious
way.
About AgriFORCE
AgriFORCE
Growing Systems Ltd. (NASDAQ: AGRI;AGRIW) is an AgTech
company focused on developing and acquiring agriculture IP that
changes the way plant cultivation and processing is done to provide
more sustainable and better quality food, pharmaceuticals,
nutraceuticals, plant based products and ingredients. Our vision is
to be a leader in delivering plant-based foods and products through
advanced and sustainable AgTech solutions. The Company's
foundational IP includes a proprietary facility design and
automated growing system for high-value crops focused on improving
the way that crops are grown. The Company calls its facility design
and automated growing system the "AgriFORCE Grow House." The
Company has designed its AgriFORCE Grow House to produce in
virtually any environmental condition and to optimize crop yields
to as near their full genetic potential possible, while using
substantially fewer natural resources and eliminating the need for
the use of herbicides, pesticides and/or irradiation. The AgriFORCE
goal: Clean. Green. Better.
Additional
information about the Company 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 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:
AHA Creative Strategies Inc.
Ruth Atherley
Tel: (604) 846-8461
Email:
ruth@ahacreative.com
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