PALM BEACH, Fla., April 24, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Many experts see the global agriculture drones market to continue its substantial growth through this decade and maybe beyond. One such industry watcher, MarketsANDMarkets reported that: "The global agriculture drones market was projected to grow to $2.01 Billion in 2024 and reach $8.03 Billion by 2029. High adoption of aerial data collection tools in agriculture holds immense opportunity for the agriculture drones market. ...

Core Insights - AgriForce Growing Systems Ltd. has successfully completed optimization and full operational deployment at its Bitcoin mining facility in Sturgeon, Alberta, Canada, achieving a total hash rate of 35.22 PH/s [1][2] - The facility utilizes a diversified fleet of high-performance ASIC miners, which positions the company at the forefront of digital asset infrastructure development [1][2] - The completion of optimization enhances AgriForce's hashpower, improves cost structure, and supports its strategic goal of building a vertically integrated digital infrastructure platform [2] Company Overview - AgriForce Growing Systems Ltd. is a technology company focused on addressing critical challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [3] - The company aims to deliver value for shareholders while creating lasting benefits for communities and ecosystems [3] Mining Facility Details - The Sturgeon facility is a cornerstone of AgriForce's digital asset strategy, combining reliable energy infrastructure, strategic geographic location, and advanced mining technology [2] - The facility's mining fleet includes: - 81 Bitmain S19k Pro 120T Antminers contributing 9.72 PH/s - 50 Bitmain S21 XP 270T Antminers contributing 13.50 PH/s - 120 Bitmain S19j Pro 100T Antminers contributing 12.00 PH/s [5]

Acquisitions and Investments - The company has completed two acquisitions in the Bitcoin mining industry, now operating three facilities with a total of 1,120 BITMAIN Antminer S19j units[23]. - The Company acquired a 14% stake in Radical Clean Solutions (RCS) on October 1, 2023, and completed the acquisition of 86% of RCS on August 16, 2024, resulting in full control over RCS[57]. - The Company completed the acquisition of a bitcoin mining facility in Alberta for $1.5 million and a 5 MW facility in Ohio for $4.55 million, significantly increasing its hashrate[68][69]. - The Company signed a letter of intent to purchase a Bitcoin mining facility in Sturgeon County, Alberta, on November 13, 2024, highlighting a strategic shift towards sustainable technology initiatives[85]. - The acquisition of the Sturgeon County Bitcoin mining facility was completed on December 3, 2024, and sustainable agriculture operations were launched on December 5, 2024[85]. - The Company signed a letter of intent to acquire a Bitcoin mining facility in Madison Township, Ohio, on December 10, 2024, with the acquisition completed on January 17, 2025[85]. Financial Performance and Projections - The company has experienced recurring net losses since inception and currently has little revenue[120]. - The Company aims to capture a small percentage share of the global market size of target categories, potentially generating net revenues of $560 million[42]. - The Company has incurred an accumulated deficit of approximately $60.8 million as of December 31, 2024, with a net loss of approximately $16.3 million for the year[198]. - The company expects to continue incurring significant operating losses for the foreseeable future and may never become profitable[198]. - The company had approximately $5.3 million of net cash used in operating activities for the year ended December 31, 2024[198]. Technology and Product Development - The UN(THINK) Awakened Flour™ product line has been launched, which is believed to provide health advantages over traditional flour, with production processes refined and scaled[26][30]. - The patented CERES-MNG process allows for flour that has 40 times more fiber, three times more protein, and 75% less net carbohydrates compared to regular all-purpose flour[36][37]. - The company has developed a patented technology that converts grains, pulses, and root vegetables into low-starch, low-sugar, high-protein fiber-rich baking flour products[108]. - The company is exploring joint ventures and licensing opportunities for its FORCEGH+ technology in various environments, including arctic and tropical[51][53]. - The company is integrating artificial intelligence and blockchain into its FinTech systems to enhance financing capabilities for commercial farmers[46][52]. Market and Competitive Landscape - The company may face significant competition from other businesses in the industry, which could affect its market position and financial condition[176]. - The company has a competitive edge with no direct competitors providing a proprietary facility design and automated grow system[105]. - The company operates in a rapidly evolving agriculture industry, which may intensify competition and affect profitability[203]. Risks and Challenges - Bitcoin prices are highly volatile, affecting the Company's growth plans and profitability[123]. - The company must continually add new miners to grow its hash rate to remain competitive in the Bitcoin mining industry[129]. - Security breaches could result in the loss of digital assets, with no insurance protection available for such losses[161]. - The reliance on third-party custody providers for cold-storage solutions poses risks, as breaches could lead to significant asset loss[153]. - The company may require substantial additional capital to execute its business plan, which could be dilutive to existing shareholders[170]. Corporate Governance and Compliance - The Investment Canada Act requires non-Canadian entities acquiring control of a Canadian business to file a pre-closing application for review if financial thresholds are exceeded[210]. - The Competition Act (Canada) allows the Commissioner of Competition to review acquisitions that may substantially prevent or lessen competition, with a notification required if holdings exceed 20% of outstanding voting shares[211]. - New laws and regulations regarding corporate governance may increase compliance costs and create uncertainty for public companies[213]. Management and Staffing - On January 25, 2024, Troy McClellan resigned as President, effective immediately[110]. - Richard Wong resumed his role as Chief Financial Officer on February 10, 2024, and Chris Polimeni was appointed to succeed him on March 4, 2025[111][114]. - As of April 7, 2025, the Company has three employees and eight consultants/contractors, with plans to hire additional staff[115]. Intellectual Property - The company protects its proprietary products and technology through a combination of contractual provisions and intellectual property laws[99]. - The company holds multiple patents related to automated growing systems, with several applications pending in various countries including the United States and Canada[101][102]. - The company has several trademarks registered, including AGRIFORCE and AWAKENED FLOUR, indicating a strong brand presence[103][104].

Core Insights - AgriFORCE Growing Systems, Ltd. is participating in a panel discussion on mergers and acquisitions, highlighting its strategic growth initiatives [1] - The company has recently acquired Bitcoin mining facilities, indicating a shift towards the cryptocurrency sector and its impact on corporate culture and financial systems [2] Group 1: Event Participation - Jolie Kahn, CEO of AgriFORCE, will be a panelist at an event hosted by Morgan Stanley in New York City on March 27, 2025 [1] - The event is organized by the New York chapter of the Entrepreneurs' Organization, with over 100 CEOs registered to attend [1] Group 2: Company Strategy - AgriFORCE's recent acquisitions in the Bitcoin mining space are expected to influence its operational culture and financial reporting [2] - The company aims to leverage advanced technologies and innovative business models to address challenges in agriculture and sustainability [4]

Core Insights - AgriFORCE Growing Systems, Ltd. is participating in a panel discussion on mergers and acquisitions, highlighting its strategic growth initiatives [1] - The company has recently acquired Bitcoin mining facilities, indicating a shift towards the cryptocurrency sector and its impact on corporate culture and financial systems [2] Company Overview - AgriFORCE Growing Systems Ltd. is a technology company focused on addressing challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [4] Event Details - The panel discussion will be co-moderated by Richard Levychin, CPA, who is a Managing Partner at Galleros Robinson and serves on AgriFORCE's Audit, Mergers and Acquisitions, and Compensation Committees [3] - The event is organized by the New York chapter of the Entrepreneurs' Organization, with over 100 CEOs registered to attend [1]

Core Insights - AgriForce Growing Systems Ltd. will be a keynote speaker at Mining Disrupt 2025, a major Bitcoin mining conference held from March 25-27 in Fort Lauderdale, Florida [1][3] - CEO Jolie Kahn will participate in a panel discussion on March 26, focusing on the future of Bitcoin mining and the competition between centralized and decentralized mining [2] - AgriForce will present its innovative modular mining infrastructure and agricultural colocation approach, emphasizing sustainability and energy efficiency [2] Company Overview - AgriForce Growing Systems Ltd. (NASDAQ:AGRI) is a technology company focused on addressing challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [4]

Core Insights - AgriFORCE Growing Systems Ltd. has made significant advancements in its Radical Clean Solutions (RCS) division, which was acquired in August 2024 [1] - The RCS division has received a U.S. patent for its innovative agricultural integrated systems designed for Radicals Hydroxyl generation units, providing a chemical-free solution for growers [2] - The technology aims to reduce mold, viruses, and volatile organic compounds (VOCs), while also extending the shelf life of produce by lowering ethylene levels [2][3] Company Overview - AgriFORCE Growing Systems Ltd. is focused on addressing critical challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [4] - The company aims to deliver value for shareholders while creating lasting benefits for communities and ecosystems [4] Future Developments - The founder of RCS indicated that multiple patents have been applied for, with expectations for several additional patents to be approved in the coming months [3]

Core Insights - AgriFORCE Growing Systems Ltd. has made significant advancements in its Radical Clean Solutions (RCS) division, including a new distribution agreement in South America and initial purchase orders in the Caribbean, indicating a strategic expansion into international markets [1][2]. Group 1: Business Developments - The company has signed a distribution agreement in South America and received its first purchase order, marking a strategic milestone for RCS [1]. - RCS has secured its first two purchase orders in the Caribbean, specifically for Barbados and St. Lucia, showcasing strong interest from various regions [2]. Group 2: Leadership Statements - Barrett Mooney, the Chief Operating Officer, emphasized the company's efforts to enhance RCS's sales and manufacturing capabilities and expressed enthusiasm for new product offerings and partnerships [3]. Group 3: Company Overview - AgriFORCE Growing Systems Ltd. is focused on addressing critical challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [3].

Core Insights - AgriFORCE Growing Systems Ltd. has announced the amicable conclusion of Chief Financial Officer Richard Wong's contract, with Chris Polimeni appointed as his successor [1][3] - Richard Wong is recognized for his six years of service, including significant contributions to the company's Nasdaq IPO and strategic development [2][3] - Chris Polimeni brings over 30 years of financial and operational expertise, having previously served as President and CEO of a financial consulting firm and CFO/COO of Accelerate360 Holdings [3][4] Company Transition - The transition of CFO is described as a mutual decision aimed at ensuring a smooth handover while maintaining the company's focus on sustainable Bitcoin mining and agriculture [1][3] - Richard Wong will continue to support the company in an advisory role during the transition period [1] Leadership Statements - CEO Jolie Kahn expressed gratitude towards Richard Wong for his contributions and emphasized the importance of this transition for the company's future [3] - Chris Polimeni expressed enthusiasm about joining AgriFORCE and aims to drive financial excellence and operational efficiency [4] - David Welch, Chairman of the Board, highlighted Polimeni's expertise in U.S. financial reporting as a valuable asset for the company's strategy [4] Company Overview - AgriFORCE Growing Systems Ltd. is focused on addressing challenges in agriculture and sustainability through advanced technologies and innovative business models [5]

Core Insights - AgriFORCE Growing Systems Ltd. has announced significant developments in its Radical Clean Solutions (RCS) division, which was acquired in August 2024 [1] - The RCS division has successfully delivered initial units from a major European purchase order in 2025, establishing a strong presence in the European market [2] - The company has received its first two purchase orders from the Caribbean Basin, including a consignment order for RCS units in Barbados and St. Lucia, indicating an expansion of its global footprint [3] - The RCS division is actively expanding its product catalog and market reach in Western Europe, Latin America, the Caribbean Basin, and the Middle East [3] - The Chief Operating Officer of AgriFORCE highlighted the focus on enhancing sales and manufacturing efficiency, as well as the introduction of new product offerings [3] - AgriFORCE is dedicated to addressing critical challenges in agriculture, sustainability, and environmental stewardship through advanced technologies and innovative business models [4]