#Canada #Merger #Above Food #Palm Global #Regina, Saskatchewan

Above Food Ingredients Inc. Announcements

Above Food Ingredients Inc. (NASDAQ: ABVE), a leading agriculture and food technology firm, has shared a remarkable corporate update regarding its merger plans with Palm Global and its fiscal outlook. With a predicted profit exceeding $30 million for the fiscal year ending January 31, 2026, Above Food is setting the stage for significant growth and transformation.

Audit Progress and Corporate Restructuring

The company has made notable strides in its ongoing audit process, following the appointment of a new auditor with expertise in digital asset tokenization and stablecoin infrastructure. The audit is on track for completion, with a Form 20-F filing anticipated by December 12, 2025. The company has opted not to extend the audit deadline as per Nasdaq regulations.

In collaboration with Palm Global, Above Food has undertaken a comprehensive restructuring strategy over the past year, achieving several key milestones:
1. Debt Elimination: The company has successfully cleared all corporate debts.
2. Profit Positioning: Above Food is primed to achieve profitability exceeding $30 million by the end of the upcoming fiscal year.
3. Sustainable Foundations: The restructuring has laid a sturdy groundwork for long-term growth and enduring profitability.

Although the fiscal year ending January 31, 2025, might reflect some restructuring-related losses, the long-term outlook appears bright, paving the way for enhanced shareholder value.

Advancements in Merger Integration

The collaboration with Palm Global has gained momentum, with senior executives from both companies actively cooperating to harness Palm's leading initiatives and enhance operational frameworks. This teamwork is characterized by vital technical integrations and strategic alignments, aiming to bolster the shared vision of both organizations.

Recent high-level meetings between the executive teams in the UAE have further invigorated this partnership, resulting in reinforced leadership alignment and a swift progression towards finalizing the merger.

Future Expectations

As Above Food moves forward, additional announcements are expected soon regarding milestones achieved in this partnership and the next steps leading to the merger's completion. Above Food is thoroughly energized about the growth potential, momentum, and long-term value creation this merger represents for its shareholders.

Lionel Kambeitz, CEO and Executive Chairman of Above Food, expressed enthusiasm regarding the company's forward trajectory. He noted the significance of eradicating corporate debt and the promising expectation for profits exceeding $30 million for the coming fiscal year. The momentum generated through collaboration with Palm Global, according to Kambeitz, is unprecedented, fueling optimism about future developments.

About Above Food Ingredients Inc.

Above Food Ingredients Inc. is a forward-thinking agricultural and food technology company committed to creating a healthier world and fighting hunger through innovative solutions involving plant proteins and proprietary seed development. By harnessing artificial intelligence-driven genomics and in partnership with Palm Global's financial technologies, Above Food strives to contribute actively to eliminating global hunger.

Cautionary Notes

While the company's updates are positive, it’s essential to note that these forward-looking statements carry inherent risks and uncertainties that could impact actual outcomes. Investors should remain informed about upcoming developments, including regulatory approvals and the overall integration with Palm Global.

For more information, stakeholders are encouraged to review relevant filings with the U.S. Securities and Exchange Commission and consult Above Food's corporate resources.