Above Food Ingredients Inc. and Palm Global Technologies Advance Strategic Merger with Definitive Agreements Expected to be Signed Imminently
Above Food Ingredients has advanced its strategic merger with Palm Global Technologies, reaching agreement on essential terms and conditions for the proposed combination first announced on February 6, 2025. The executive team completed their review and expressed strong support for the merger.
CEO Lionel Kambeitz and the leadership team recently visited the Emirates for final diligence and attended milestone events showcasing Palm Global's achievements. The merger aims to leverage Palm Global's FinTech platform, which integrates AI, blockchain, and decentralized finance technologies.
This strategic combination is expected to enhance shareholder value while advancing Above Food's mission of building a more sustainable global food system. The company promises timely updates on upcoming announcements from both parties.
Above Food Ingredients ha fatto progressi significativi nella sua fusione strategica con Palm Global Technologies, raggiungendo un accordo sui termini e condizioni fondamentali per la combinazione proposta, annunciata per la prima volta il 6 febbraio 2025. Il team esecutivo ha completato la revisione e ha espresso un forte sostegno alla fusione.
Il CEO Lionel Kambeitz e il team di leadership hanno recentemente visitato gli Emirati per una due diligence finale e hanno partecipato a eventi importanti che hanno messo in luce i risultati di Palm Global. La fusione punta a sfruttare la piattaforma FinTech di Palm Global, che integra tecnologie di intelligenza artificiale, blockchain e finanza decentralizzata.
Questa combinazione strategica dovrebbe aumentare il valore per gli azionisti, sostenendo al contempo la missione di Above Food di costruire un sistema alimentare globale più sostenibile. L'azienda promette aggiornamenti tempestivi sulle prossime comunicazioni di entrambe le parti.
Above Food Ingredients ha avanzado en su fusión estratégica con Palm Global Technologies, alcanzando un acuerdo sobre los términos y condiciones esenciales para la combinación propuesta, anunciada por primera vez el 6 de febrero de 2025. El equipo ejecutivo completó su revisión y expresó un sólido apoyo a la fusión.
El CEO Lionel Kambeitz y el equipo de liderazgo visitaron recientemente los Emiratos para una diligencia final y asistieron a eventos clave que mostraron los logros de Palm Global. La fusión busca aprovechar la plataforma FinTech de Palm Global, que integra tecnologías de inteligencia artificial, blockchain y finanzas descentralizadas.
Se espera que esta combinación estratégica aumente el valor para los accionistas mientras impulsa la misión de Above Food de construir un sistema alimentario global más sostenible. La empresa promete actualizaciones oportunas sobre los próximos anuncios de ambas partes.
Above Food Ingredients는 Palm Global Technologies와의 전략적 합병을 진전시켜 2025년 2월 6일 처음 발표된 제안된 합병에 대한 주요 조건에 합의했습니다. 경영진 팀은 검토를 완료하고 합병에 대한 강력한 지지를 표명했습니다.
CEO 라이오넬 캄바이츠와 리더십 팀은 최근 아랍에미리트를 방문하여 최종 실사를 진행하고 Palm Global의 성과를 보여주는 주요 행사에 참석했습니다. 이번 합병은 인공지능, 블록체인, 분산 금융 기술을 통합한 Palm Global의 핀테크 플랫폼을 활용하는 것을 목표로 합니다.
이 전략적 결합은 Above Food의 더 지속 가능한 글로벌 식품 시스템 구축이라는 미션을 추진하면서 주주 가치를 향상시킬 것으로 기대됩니다. 회사는 양측의 향후 발표에 대해 적시에 업데이트를 제공할 것을 약속합니다.
Above Food Ingredients a fait progresser sa fusion stratégique avec Palm Global Technologies, en parvenant à un accord sur les termes et conditions essentiels de la combinaison proposée, annoncée pour la première fois le 6 février 2025. L'équipe de direction a terminé son examen et a exprimé un fort soutien à la fusion.
Le PDG Lionel Kambeitz et l'équipe dirigeante ont récemment visité les Émirats pour une diligence finale et ont assisté à des événements marquants mettant en valeur les réalisations de Palm Global. La fusion vise à tirer parti de la plateforme FinTech de Palm Global, qui intègre les technologies d'IA, de blockchain et de finance décentralisée.
Cette combinaison stratégique devrait accroître la valeur pour les actionnaires tout en faisant progresser la mission d'Above Food de construire un système alimentaire mondial plus durable. L'entreprise promet des mises à jour rapides concernant les annonces à venir des deux parties.
Above Food Ingredients hat seine strategische Fusion mit Palm Global Technologies vorangetrieben und eine Einigung über die wesentlichen Bedingungen für die vorgeschlagene Kombination erzielt, die erstmals am 6. Februar 2025 angekündigt wurde. Das Führungsteam hat die Überprüfung abgeschlossen und seine starke Unterstützung für die Fusion bekundet.
CEO Lionel Kambeitz und das Führungsteam besuchten kürzlich die Emirate für die abschließende Due Diligence und nahmen an wichtigen Veranstaltungen teil, die die Erfolge von Palm Global präsentierten. Die Fusion zielt darauf ab, die FinTech-Plattform von Palm Global zu nutzen, die KI, Blockchain und dezentrale Finanztechnologien integriert.
Diese strategische Kombination soll den Aktionärswert steigern und gleichzeitig die Mission von Above Food fördern, ein nachhaltigeres globales Lebensmittelsystem aufzubauen. Das Unternehmen verspricht zeitnahe Updates zu bevorstehenden Ankündigungen beider Parteien.
- Strategic merger with Palm Global Technologies advances with essential terms agreed upon
- Management team and Board of Directors express strong support for the merger
- Palm Global's FinTech platform brings proprietary AI, blockchain, and DeFi technologies
- Merger expected to create substantial shareholder value through global agriculture transformation
- Palm Global has established impressive global partnerships
- Definitive agreements not yet signed
- Final regulatory approvals still pending
- Merger completion timeline remains uncertain
Insights
Above Food's merger with Palm Global advances with agreed terms, signaling positive progress toward technology-driven agricultural transformation.
Above Food Ingredients' announcement marks notable progress in their proposed merger with Palm Global Technologies. The companies have reached agreement on essential terms and conditions for the transaction initially announced in February 2025. This represents a key milestone as the deal moves from initial intentions to more concrete arrangements.
The executive management team's strong endorsement following comprehensive review and the Board's advancement of necessary corporate and regulatory approvals indicate growing internal confidence in the transaction's strategic fit. The leadership team conducted final due diligence in the Emirates, suggesting the deal is progressing through critical evaluation phases.
What makes this merger particularly significant is the strategic integration of different business models. Palm Global brings a FinTech platform built on AI, blockchain, and decentralized finance technologies, potentially transforming Above Food from a traditional ingredients company to a technology-enhanced agricultural enterprise. CEO Lionel Kambeitz's characterization of this as a "revolutionary merger" suggests expectations of substantial business evolution.
While the agreement on essential terms represents meaningful progress, the announcement lacks specific financial parameters, detailed transaction structure, expected closing timeline, or elaboration on regulatory requirements. Definitive documentation has not yet been completed, meaning material steps remain before transaction closing.
The strategic rationale appears focused on creating shareholder value while accelerating Above Food's mission of building a sustainable food system through Palm Global's technology platform and global partnerships. This represents material progress toward what management describes as a potentially transformative strategic transaction.
Regina, Saskatchewan--(Newsfile Corp. - April 30, 2025) - Above Food Ingredients Inc. (NASDAQ: ABVE) ("Above Food") today announced that it has reached agreement on essential terms and conditions for its proposed merger with Palm Global Technologies Ltd. ("Palm Global"), advancing the transformative acquisition first announced on February 6, 2025.
The executive management team of Above Food has completed its comprehensive review of the proposed merger terms and structure, expressing strong support for this transformative combination. The Company's Board of Directors has received the management team's endorsement and is advancing the necessary corporate and regulatory approvals to facilitate the completion of definitive documentation.
The Above Food executive management team travelled to the Emirates this week to conclude final diligence. Additionally, our leadership team attended a number of groundbreaking milestone events that further demonstrated the success that Palm Global is achieving on its global initiatives.
"This milestone solidifies the strong alignment between our organizations on both the vision and structure of this revolutionary merger," commented Lionel Kambeitz, Founder and CEO of Above Food. "Our management team strongly supports this combination with Palm Global, which we believe will create substantial value for our shareholders while accelerating our mission of building a more sustainable and inclusive global food system. Palm Global's revolutionary FinTech platform, built on proprietary AI, blockchain, and decentralized finance technologies, and impressive roster of global partnerships, creates an unprecedented go-to-market platform to transform global agriculture. The events we attended in person and the associated announcements expected over the coming days from Palm Global further solidifies our belief that this transaction will significantly enhance shareholder value. We will ensure our shareholders are updated on a timely basis on the exciting progress as they are announced by ourselves or Palm Global."
About Above Food Ingredients Inc.
Above Food Ingredients Inc. (NASDAQ: ABVE) is an ingredient company that delivers products made with real, nutritious, flavorful ingredients produced with transparency. The Company's vision is to create a healthier world – one seed, one field, and one bite at a time. With a robust chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing, and proprietary seed development capabilities that leverage the power of artificial intelligence-driven genomics and agronomy, the Company delivers nutritious foods to businesses and consumers with traceability and sustainability.
About Palm Global
Palm Global is a next-generation innovator in financial inclusion, agri-tech, and sustainability, operating out of San Francisco, Dubai, Hong Kong, and Singapore. Utilizing AI, blockchain, and decentralized finance (DeFi) technologies. Palm Global delivers scalable solutions that drive economic empowerment and financial access for millions of farmers across Africa, Southeast Asia, and the Americas. By facilitating access to credit, insurance, and advanced agricultural technologies, through its platforms and super-apps, Palm Global supports sustainable growth and food security at scale. Through strategic partnerships with governments, global institutions, and NGOs, Palm Global is accelerating the adoption of digital solutions that transform global agriculture and strengthen financial resilience in underserved markets. The Palm Global website is available at www.palmglobal.ai
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain "forward-looking information" within the meaning of the United States federal securities laws and applicable Canadian securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," future," "opportunity," "plan," "may," "should," "will," "could," "will be," will continue," and similar expressions and include, without limitation, statements about the ability of or expectations regarding the future performance of our business and operations.
Forward-looking statements are based on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider all of the risks and uncertainties described in the documents filed by the Company with the United States Securities and Exchange Commission, which is available on EDGAR at www.sec.gov/edgar.shtml. There may be additional risks that the Company presently does not know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide the Company's expectations, plans or forecasts of future events and views as of the date of this communication. The Company anticipates that subsequent events and developments will cause the Company's assessments to change. However, while the Company may elect to update these forward-looking statements in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this communication. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein.
Additional Information and Where to Find It:
INVESTORS AND SECURITY HOLDERS OF ABOVE FOOD ARE URGED TO READ THE DOCUMENTS FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ABOVE FOOD. Investors and security holders will be able to obtain free copies of the documents filed with the SEC by Above Food through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Above Food are also be available free of charge on Above Food's website at https://abovefood.com or by contacting Above Food's Investor Relations Department at 2305 Victoria Ave #001, Regina, Saskatchewan, Canada, S4P 0S7.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250304
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