Agrinam has exercised its second three-month extension option to extend its permitted timeline to complete a qualifying acquisition to March 15, 2024 by depositing an additional U.S.$400,000 in cash into escrow.

Agrinam previously entered into a definitive business combination agreement with Agrinam Merger Sub, Inc., a wholly owned subsidiary of Agrinam and Freight Farms, Inc. ("Freight Farms"), a rapidly growing innovative agtech company and a leader in the global revolution for sustainable, hyper-local and ultra fresh food production, whereby Agrinam will acquire all of the issued and outstanding shares of Freight Farms by way of a triangular merger (the "Business Combination"). The Business Combination, which is expected to close in the first quarter of 2024, is anticipated to constitute Agrinam's qualifying acquisition under Part X of the Toronto Stock Exchange Company Manual.

For more information:
Agrinam Acquisition Corporation