VANCOUVER, British Columbia, Sept. 07, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Sprout AI Inc. (CSE: SPRT) (“Sprout AI” or the “Company”), a leading vertical farming technology company, is pleased to announce the appointment of its global marketing team.
Sprout AI has selected MarketOne and Generation IACP Inc. (GIACP) to assist its investor relations (IR) program.
MarketOne has been appointed to provide its marketing and social media expertise to support Sprout AI’s marketing initiatives. The Company has signed a contract for services to be provided over a 12-month period commencing September 2021 and will pay a flat fee of C$130,000, plus applicable taxes, during the Initial Term. MarketOne is arm’s length to the Company and does not currently own any securities of the Company.
Generation IACP Inc. has been hereby appointed, subject to the receipt of approval by the Canadian Securities Exchange (CSE) and in compliance with the policies and guidelines of the CSE and other applicable legislation, that on a nonexclusive basis they will provide market-making services with the objective of maintaining a reasonable market and improving the liquidity of Sprout AI shares. Generation will not receive any common shares or options as compensation. Generation does not currently own any securities of Sprout AI; however, Generation and its clients may acquire a direct interest in the securities of the Company.
Sprout AI and Generation are unrelated and unaffiliated entities. Generation is a member of the Investment Industry Regulation Organization of Canada and a member firm of the Toronto Stock Exchange and the TSX-V, Canadian Securities Exchange and the NEO exchange. The initial term of the Generation agreement will last six months at a cost of CAD$7,500 per month, payable per quarter and renewable at the discretion of the Company.
In addition to the above, Sprout AI has also selected the use of one of the most powerful investor relations software made for modern investor relations (IR) teams. This platform will then integrate seamlessly with Sprout AI’s existing enterprise resource planning and compliance (ERPc) software, known as One System One Solution (OS2). This platform, together with additional IR services, will cost on average US$5,500 per month.
The total capital spend on this combined program will remain well below British Columbia Securities Commission’s recommended 20% of operational costs.
Chris Bolton, CEO of Sprout AI, commented, “We welcome this well-coordinated select group of companies to our Sprout AI IR and marketing team. Their level of transparency through easy-to-use software and their ability to provide accurate and auditable analytics will ensure that we remain compliant with applicable securities laws, the policies and procedures of the CSE Venture Exchange and the anticipated Notice 1-519 Promotional Activity Disclosure Requirements of the British Colombia Securities Commission (BCSC), and the requirements of additional future exchanges that may list Sprout AI. This combination of providers will also support our investor relations and marketing program in a significant way.”
About Sprout AI
Sprout AI is a vertical farming technology company in the business of planning, designing, manufacturing and/or assembling sustainable and scalable AI-controlled vertical cultivation equipment for indoor vertical farming. The adaptive technology produces an environment with improved growing parameters and early detection of adverse conditions, resulting in consistent and repeatable crops with shorter cultivation cycles independent of geographic climates.
The self-contained multilevel rolling rack technology increases the cubic cultivation area while mitigating the risk of outside and cross-contaminants.
For more information about Sprout AI, please visit http://sproutai.solutions.
About MarketOne
MarketOne is Canada's leading marketing agency for public companies. They boast over 60 collective years of capital markets experience, a Google-certified team, award-winning journalists and savvy digital marketers to support their clients' marketing efforts.
About Generation IACP Inc.
Generation IACP Inc. helps stimulate a receptive trading environment through their involvement as a market participant, with the objective of contributing liquidity in the market. Their experienced traders deploy a liquidity strategy that is tailored to an issuer’s specific market and unique requirements.
Chief Executive Officer
Chris Bolton
Sprout AI Inc.
Phone: +011 (507) 6384-8734
E-mail: mainweb@sproutai.solutions
Investor Relations Contact
Colleen McKay
Sprout AI Inc.
Tel: + 1 (289) 231-9026
E-mail: cmckay@sproutai.solutions
Website: http://sproutai.solutions
Address: International Business Park,
Unit 5B, Building 3860
Panama Pacifico, Republic of Panama
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE'S REGULATION SERVICES PROVIDER.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, with respect to the Company. The forward-looking information included in this news release is not based on historical facts but rather, on the expectations of the Company's management regarding the future growth of the Company, its results of operations, performance, business prospects and opportunities. This news release uses words such as "will," "expects," "anticipates," "intends," "plans," "believes," "estimates" or similar expressions to identify forward-looking information. Such forward-looking information reflects the current beliefs of the Company's management based on information currently available to them.
This forward-looking information includes, among other things, statements relating to: the order, intentions, plans and future actions of the Company; statements relating to the business and future activities of the Company; and anticipated developments in operations of the Company. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions, and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties.
Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and there can be no assurance that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, prospective investors should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the expectations and predictions of the Company is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including: global or national health concerns, including the outbreak of pandemic or contagious diseases, such as COVID-19 and including the evolution of new variants of COVID-19, the duration and effect thereof and delays relating to vaccine development, procurement and distribution; risks relating to the effective management of the Company's growth; liabilities and risks, including environmental liabilities and risks associated with the Company's operations; the Company's ability to attract and retain customers; the competitive nature of the industries in which the Company operates; and the other risk factors described in the Company's final long form prospectus dated May 31, 2021.
If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking statements prove incorrect, actual results might vary materially from those anticipated in the forward-looking statements. Information contained in forward-looking statements in this news release is provided as of the date of this news release, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable Canadian securities laws. Accordingly, potential investors should not place undue reliance on forward-looking statements or the information contained in those statements.
All the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
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