AGI Responds to Media Report of Unsolicited Proposal

WINNIPEG, Manitoba, May 29, 2024--(BUSINESS WIRE)--Ag Growth International Inc. (TSX: AFN) ("AGI", "we", "our", or the "Company") is today responding to a recent media report related to the receipt of an unsolicited proposal to purchase AGI.

While it is AGI’s policy not to comment on market speculation or rumours, AGI confirms that it received an unsolicited, non-binding and conditional proposal to purchase the Company, which the board of directors, in consultation with financial and legal advisors, thoroughly considered and determined was not in the best interests of AGI or its shareholders. AGI is not in discussions with any third party, nor is there any agreement, understanding or arrangement with respect to any proposal.

The Company does not intend to make any further public announcements regarding any rumours or speculation unless it determines that disclosure is warranted and in accordance with the requirements of applicable law.

AGI Company Profile

AGI is a provider of the equipment and solutions required to support the efficient storage, transport, and processing of food globally. AGI has manufacturing facilities in Canada, the United States, Brazil, India, France, and Italy and distributes its product worldwide.

Forward-Looking Information:

This press release contains forward-looking information within the meaning of applicable securities laws that reflects our expectations regarding the future growth, results of operations, performance, business prospects, and opportunities of the Company. All information and statements contained herein that are not clearly historical in nature constitute forward-looking information. Undue reliance should not be placed on forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which it is based will occur. Such forward-looking information reflects our current beliefs and is based on information currently available to us, including certain key expectations and assumptions. Forward-looking information involves significant risks and uncertainties. A number of factors could cause actual results to differ materially from results discussed in the forward-looking information. These risks and uncertainties are described under "Risks and Uncertainties" in our most recently filed management's discussion and analysis and in our most recently filed Annual Information Form, all of which are available under the Company's profile on SEDAR+ (www.sedarplus.ca). The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included in this press release is made as of the date of this press release and we undertake no obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.

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Contacts

For More Information:
Andrew Jacklin
Director, Investor Relations
+1-437-335-1630
investor-relations@aggrowth.com