
AgriFORCE Growing Systems Ltd.
AgriFORCE Growing Systems Ltd. is an Intellectual Property-driven company focused on the development and acquisition of crop and food production IP and knowledge. This is augmented by advanced AgTech facilities, methods and solutions to deliver more sustainably produced and healthier crops and plant based products.
Nasdaq: AGRI
IR Website: https://ir.agriforcegs.com/
Headquarters: Vancouver, BC, Canada
AgriFORCE’s vision is to be the world leader in delivering next generation foods and plant products through IP-driven advanced AgTech solutions.
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Summary

AgriFORCE Growing Systems Ltd. is an Intellectual Property-driven company focused on the development and acquisition of crop and food production IP and knowledge. This is augmented by advanced AgTech facilities, methods and solutions to deliver more sustainably produced and healthier crops and plant based products.
Facility Solutions
AgriFORCE provides superior Controlled Environment Agriculture (CEA) solutions through its AgriFORCE GrowHouse, which leverages a proprietary and unique facility design, lighting design, automation, Internet-of-Things (IoT) and artificial intelligence (AI), fertigation and nutrients, and micropropagation.
AgriFORCE recently announced a Memorandum of Understanding (MOU) to build its advanced GrowHouse facility in Barbados, and expects to announce a number of similar agreements in the near future. At full production, each of these facilities is expected to generate approximately $15 million of annualized EBITDA, providing the company long-term and predictable cash flow.
Consulting Solutions
AgriFORCE is building upon its industry leading IP and deep AgTech experience to become a leading, global AgTech consulting company. The Company recently announced a binding Letter of Intent (LOI) to acquire a leading European AgTech consultancy. With global operations and over 200 employees, this AgTech consultancy achieved 2020 annual consulting audited revenues of over US$26 million and EBITDA of US$3 million (IFRS based).
Consumer Products
AgriFORCE is applying its IP-centric model to food and consumer products. AgriFORCE recently announced an agreement to acquire the IP and patent-pending technologies from Manna Nutritional Group LLC (MNG), to naturally process and convert grain, pulses and root vegetables, resulting in low-starch, low-sugar, high-protein, fiber-rich baking flour products, as well as a wide range of breakfast cereals, juices, natural sweeteners and baking enhancers.
M&A Strategy
Through M&A, Strategic Alliances and Partnerships, AgriFORCE is focused on acquiring and integrating leading providers of solutions in greenhouses and vertical grow facilities and agricultural and AgTech companies with advanced know-how and/or Intellectual Property. This cohesive approach to agriculture will be delivered through our AgTech Platform that can be leveraged to apply lessons learned, develop the next generation of solutions across multiple verticals and provide growth potential through cross-selling.
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Market Challenges

Cultivators are challenged in achieving consistent, high quality, and environmentally friendly product.
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There is a growing need for increased yield per square foot, less energy and water usage, and automation.
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The agriculture industry is facing pressure from commoditization and margin compression as well as high growing costs.
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Current agriculture practices are unable to achieve the genetic potential of the plant or crop, leading to massive investment in Ag-Tech solutions and technology to increase cultivation yields, taste and nutrition.
Consumers are looking for safer, more sustainable, and nutritious food.
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Consumers want to know where their food comes from and how it is grown. Safety, sustainability and the environmental impact have become a priority.
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Consumers want convenience and pesticide-free crops and are prepared to pay for them.
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Despite progress, current challenges continue with legacy systems especially in areas such as the need for pest control, the use of pesticides, herbicide and irradiation, crop drift and reduced arable land.
Governments are increasingly looking at the carbon footprint of agriculture and its massive use of water.
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Existing greenhouses and indoor growing facilities are not generally environmentally friendly and do not provide ideal growing conditions for crops.
The AgriFORCE GrowHouse Facility

AgriForce has optimized a solution to achieve a plant’s full genetic potential (i.e., its yield optimization).
90% + of a plant’s ability to reach its full genetic potential is determined by its environment. All technology focused on bio-availability, pest management and nutrient management in totality, represent a fraction of yield gain of a plant’s full genetic potential (micro-challenges).
The AgriFORCE Solution
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AgriFORCE has developed IP which creates the next generation of agriculture facility design and operational method to allow plants to achieve their full genetic potential.
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AgriFORCE’s IP allows for significant yield gains compared to traditional indoor or greenhouse growing environments.
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Facilities can be constructed in any climate and closer to consumers providing a convenient, herbicide and pesticide-free, fresh, and sustainable product offering.
AgriFORCE brings an entirely new approach to crops, operations, facilities, systems and the growing environment (COFSE). The key to AgriFORCE IP and to success, is understanding how each of the elements work together to produce exceptional results.
Integration via COFSE is the overarching business philosophy and it guides all decisions, which drives an iterative process that results in efficiencies and advancements.
Crops
Focused on food security, AgriFORCE starts with the seed – developing optimized genetics through advanced tissue culture and micropropagation. Among the many benefits are increased yields and lower production costs – but that’s not all. At AgriFORCE, the goal is always to provide the consumer with better tasting, more nutritious and consistently high-quality vegetables, fruits and plant-based products that are grown and produced in a sustainable manner.
Operations
AgriFORCE has a cohesive approach to operations from advanced propagation to cultivation to harvest standard operating procedures to the production process for plant-based foods. AgriFORCE focuses on enhanced automation, ensuring that the plants are touched as little as possible by humans. This results in substantive capital investment, leading to reduced ecological impacts, and resource and operational savings.
Facilities
AgriFORCE's GrowHouse facility and its specialized building envelope were created to allow for the full light spectrum.
AgriFORCE has designed a specialized facility that includes a high-tech, high-efficiency building envelope and proprietary construction engineering and materials. It creates the ability for natural sunlight indoors with the support of supplemental grow lighting. The facility and its specialized roofing were developed to allow for the full light spectrum to reach the plants.
One of the many challenges for indoor growers is in providing plants with enough of the right kind of light for effective photosynthesis to grow optimally, regardless of the geographical location and climate. The IP was created to provide a solution to this ongoing issue through our hybrid proprietary lighting technology that is designed to integrate biotech elements with advanced supplemental lighting, allowing for the best elements of natural light into the facility. In addition to saving on lighting energy costs, natural light also warms the microclimate, when necessary, reducing heating energy requirements.
Economic Impact and Outlook of Proprietary GrowHouse Facility

Current indoor farming and greenhouse practices are inefficient and rely on substantial use of utilities, infrastructure and operational costs. AgriFORCE’s precision growth method presents an alternative that provides an efficient, controlled, herbicide and pesticide-free environment and method that is designed to yield a higher crop volume.
AgriFORCE’s intellectual property (IP) initially started out with a hydroponics focus to showcase its efficacy in a growing market. Now, AgriFORCE is expanding operations to refine the technology and methodology for vegetables and fruit, as well as in the growing sector of nutraceutical and pharmaceutical therapeutics, including plant-based vaccines. This is expected to add to the solid roster of patents, which are key IP assets for AgriFORCE.
AgriFORCE's foundational IP combines a uniquely engineered facility design, automated growing system and operational method (COFSE) to provide a clear solution to the biggest problems plaguing most agricultural verticals. It delivers a clean, self-contained, virtually sealed environment that maximizes natural sunlight and offers near ideal supplemental lighting. It also limits human intervention and – crucially – it was designed to provide superior quality control. In addition, the IP and proprietary facility was developed to drastically reduce environmental impact, substantially decrease use of natural resources, including water and electricity. This results in lower production costs, while still delivering daily harvests and an increased crop yield. AgriFORCE provides what others in the industry can’t: a comprehensive and proprietary system that addresses the unique needs of each crop and that runs through the agricultural value chain to the end product.
AgriFORCE's clean, automated environment maintains what the company believes is the lowest carbon footprint on the market compared to typical indoor growing facilities, while simultaneously producing toxin-free, United States Department of Agriculture (USDA) organic equivalent crops.
With ongoing development and acquisition of IP, this is just the start of the AgriFORCE revolution of how crops are grown and how plant-based products are made.
Consulting Solutions

AgriFORCE recently announced a binding Letter of Intent (LOI) to acquire a leading European AgTech consultancy focused on driving crop optimization, innovation, solutions and operational expertise in the agriculture, horticulture and controlled environment agriculture (CEA) sectors.
With Global operations and over 200 employees, this AgTech Consultancy achieved 2020 annual audited revenues of over US$26 million and EBITDA of US $3 million and it expects to end the year 2021 with revenues of over US$28 million (based on IFRS accounting and FX Rate of approximately 1.14 Euro to 1.19 US dollar).
Transaction Highlights
The planned AgriFORCE acquisition of this leading European AgTech consultancy is expected to provide the following strategic benefits:
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AgriFORCE plans to leverage the Consultancy’s decades of experience, established customer base and deep industry relationships to accelerate deployment of its proprietary AgriFORCE Grow House and related IP, including facility and lighting design, automation and artificial intelligence, fertigation and nutrients, as well as micropropagation and genetics.
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The Consultancy has generated strong historical financial performance and consistent growth across Europe and internationally. AgriFORCE plans to build on this growth through expansion of these consulting operations and the establishment of a Research and Development center in North America, higher penetration of its Asian markets, as well as expanding AgriFORCE’s operations in Europe.
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This planned acquisition will put the combined operations at the forefront of knowledge and IP development and research, which AgriFORCE plans to augment with increased revenue from sustainable cultivation, crop processing and technical solutions in the key CEA verticals.
This planned acquisition is an alliance of the two companies’ complementary expertise and shared values. Both AgriFORCE and this leading European AgTech consultancy are dedicated to making positive change in the lives of farmers and consumers. This is an unprecedented opportunity for exceptional innovation and, through synergies, expanded growth across both North America and Europe for both organizations.
Launching New Consumer Products

AgriFORCE plans to develop and commercialize new consumer products built on the Company’s proprietary MNG food processing IP, which has the ability to convert grain, pulses and root vegetables, into low-starch, low-sugar, high-protein, fiber-rich baking flour products, as well as a wide range of breakfast cereals, juices, natural sweeteners and baking enhancers.
The Company plans to launch the new branded specialty ingredients and foods business starting in the second half of 2022.
Continued M&A to Support Organic Growth

Near-Term Goals

Facility Solutions
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Finalize definitive agreement to deploy AgriFORCE GrowHouse in Barbados
Goal Reached (See December 2nd Press Release)
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Sign contracts for 3 GrowHouse facility contracts in California
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Sign contract for a GrowHouse facility in the Northeast US
Consulting Solutions
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Complete acquisition of European agriculture/horticulture and AgTech consulting company
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Acquisitions of additional world-class AgTech consulting companies
AgriFORCE Brands
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Launch first consumer branded products
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Strategic partnerships around MNG’s low-sugar, high-protein, fiber-rich baking flour products
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Additional consumer product/IP acquisitions
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Set up small scale manufacturing and R&D facility
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Establish scalable manufacturing platform for commercialization
M&A Opportunities
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Additional two acquisitions adding substantial revenue and EBITDA
Key Takeaways
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Creating a disruptive, consolidative business model for AgTech 2.0
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IP/Knowledge Driven as a catalyst to superior facilities, services and AgTech solutions provider
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Unlocking Value in Food Systems
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Strong Growth Plan leveraging Organic and M&A model
Recent Interviews / Media

BNN Bloomberg: Commodities - September 10, 2021
Cheddar News: Cheddar Innovates - August 19, 2021
Fox Business: The Claman Countdown - July 15, 2021
Management Overview

Ingo Mueller
CEO
Ingo has been involved in the finance and advisory business for the past 20 years. In that time, he helped raise more than $200M for the companies he worked with. His previous executive experience includes being the CEO of Wigu City Edutainment Centres PLC, London Mining PLC (Colombia), and International Coal Company Ltd. In addition to his C-Suite experience, Ingo has acted in a strategic advisory capacity for companies, senior executives and principals around the world and across a broad cross-section of industries, including with multinational and international investment banks. Some of Ingo’s strategic advisory work has been with companies such as Daewoo Ship Building and Marine Engineering Co. Ltd., BAO Minerals (BAO STEEL Group) and Petro China. He has also worked with Hard Rock Hotel and Casinos, Donaco Pte Ltd. (Genting Group of Companies) and Minera Santa Fe.
Troy McClellan
President, AgriFORCE Solutions
Troy has focused on innovative design and construction technologies throughout his career, most recently as V.P. of Design and Construction at AgriFORCE Growing Systems. Prior to this, Troy held executive and senior management roles at W!gu City, MGM Macau, Wynn Design & Development (Macau), Universal Studios (Japan) and several globally recognized design firms. Troy is a registered professional architect and received his Master’s Degree in Architecture from Montana State University.
Mauro Pennella
President, AgriFORCE Brands and CMO, AgriFORCE Growing Systems
A well-respected brand and marketing professional with more than three decades of global consumer product experience, Mauro Pennella brings deep expertise to his dual role as President of AgriFORCE Brands and Chief Marketing Officer of AgriFORCE Growing Systems. Mauro oversees the creation and growth of the Company’s product brands across multiple agriculture verticals. He is responsible for the division’s P&L, including Marketing, Sales, R&D and Operations. Mauro also leads the brand, marketing and communications teams for AgriFORCE Growing Systems. Prior to joining AgriFORCE Mauro was Chief Growth & Sustainability Officer at McCain Foods; he also led and held senior executive roles at companies such Combe Incorporated, Conagra’s Lamb Weston, Diageo and Procter & Gamble – managing multiple divisions and global employee groups.
Richard Wong
CFO
Richard has over 25 years of experience in both start-up and public companies in the consumer goods, fertilizer, manufacturing, and forest industries. Richard has served as the CFO of Emerald Harvest Co., Dan-D Foods, Ltd., was the Director of Finance and CFO of SUGOI Performance Apparel and a partner at First Choice Capital Advisors.
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Risks & Disclosures

This communication is neither an offer to sell nor a solicitation of an offer to buy, nor a recommendation of any securities of the company mentioned herein.
AgriFORCE Growing Systems Ltd (the “Company”) and its counsel have reviewed the content of this page as well as the accompanying presentation (“Company Presentation”) displayed on this page. To the best of its knowledge, the Company does not believe this content to be misleading or inaccurate in any material respect, nor does it believe there are any material omissions with respect to such content. The Company does not believe the contents of the page or the Company Presentation to contain any non-public material information.
Information and opinions presented in the Company Presentation are provided by the Company, and b2i digital makes no representation as to their accuracy or completeness. The information contained on this page is not intended to constitute any form of advice, and the information provided is not intended to provide a sufficient basis on which to make an investment decision. It is not investment research, nor does it constitute a research recommendation, as it does not constitute substantive research or analysis. This information is not to be relied upon in substitution for the exercise of independent judgment.
Information, opinions and estimates contained on this page or in the Company Presentation reflect judgments by the Company as of the original date of publication by the Company and are subject to change without notice. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied is made regarding future performance.
A complete description of the risks and uncertainties relating to the Company and its securities can be found in the company's filings with the U.S. Securities and Exchange Commission available for free at www.sec.gov.
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