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Director & CEOSeedo and Saffron-Tech
TEL AVIV, ISRAEL, March 18, 2021 (GLOBE NEWSWIRE) --
To Our Shareholders,
This is the first time that we, Seedo's new management and board, are addressing you, our shareholders, bringing with us a message of change and renewal. This letter accompanies the first financial reports submitted in the past year and we are happy to announce that the company is being back listed to the OTCQB (ticker: SEDO). The company's activity was re-defined to be operating in the Agrotech field, focusing as first stage on the lucrative, over-$1-billion market of growing saffron in an automated and controlled way via our wholly owned Israeli-based subsidiary, Saffron Tech Ltd.
As the new Director and CEO, it is important for me to convey a clear, transparent, message on the processes the company has gone through in the past months pointing at new possibilities and horizons.
In July 2020, a new management and board of directors was appointed to the company. Since then, we have worked diligently to close past issues and open a new page for the company by building a strong basis and working in parallel on all fronts: R&D, IP, Marketing, Financing, and more.
We would like to present you with a short summary of the actions taken:
August 2020: R&D Agreements with Rokeha and Volcani Canter: IP Sharing Agreement with Rokeha for integrating the two companies' technologies to create an ecosystem for automatic and indoor-controlled cultivation of saffron; A Services Agreement with Volcani Center, which is Israel’s largest institution specializing in agricultural research and among the best known in the world.
September 2020: Appointment of Mr. Zvi Or-Bach to the Company’s Scientific Advisory Board. Mr. Or-Bach is a world-renowned expert and holder of over 200 patents with over 40 years' experience in leading organizations to success.
November 2020: Filing a Provisional Patent Application with the US Patent Office to document the company's IP and protect it.
February 2021: Closing a successful crowdfunding round with over $1.6 million raised from over 700 investors substantially surpassing the initial target. The investors provided a definite vote of confidence and the funds are to be used to realize the company's strategy and business plan.
Yarden Gerbi, first ever Israel’s world champion in Judo, Gold medalist and Olympic bronze medalist, appointed Director of Business Development and Presenter.
February 2021: Chef Avi Levy, renowned chef & winner of Master Chef TV contest joins the company as investor and ambassador.
A Special Thank You
I would also like to thank you, our investors, and shareholders, for your loyalty and support.
I also wish to express my deep thanks to all the team that has worked with me day and night to complete these steps and I look forward to implementing our winning strategy and business plan.
Director & CEO
Seedo and Saffron-Tech
Follow us on Twitter @SedoCorp
Seedo Corp. (OTC: SEDO), an agritech company, is focusing on its research, development, and commercialization of agriculture technology products in the fields of saffron, exotic plants and mushrooms. Seedo’s know-how and technology are aimed at transforming the way agriculture is done by offering a responsible and sustainable way to grow crops in a world confronted by environmental challenges of dwindling earth reserves, diminishing water resources and unstable weather conditions.
Cautionary Note Regarding Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to our ability to successfully execute a smooth transition of CFO functions as well as our ability to retain and recruit qualified executives; uncertainties related to, and failure to achieve, the potential benefits and success of our senior management team and organizational structure; our ability to successfully compete in the marketplace; our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Reports on Form 10-Q and in our Annual Report on Form 10-K, including in the sections captioned "Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.