Chicago, IL, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Himalaya Technologies, Inc. formerly known as Homeland Resources Ltd. (OTC: HMLA) has signed a 19.9% stock purchase with The Agrarian Group LLC (“TAG”; http://www.theagrariangroup.com/). TAG is a provider of digital intelligence software called “AgtechDi” designed from its granted patents to optimize the food supply chain by increasing food safety and profitability for growers who operate vertical farms, greenhouses, converted shipping containers, and other forms of controlled environment agriculture. The investment follows on the heels of Himalaya’s other investments in cannabis social media and immune booster formulations vaulting the Company into new era of growth as a health and wellness incubator.
About The Agrarian Group:
TAG provides Digital Intelligence Optimization Software “AgtechDi” for Food Safety and Profitability. The Company is a Service-Disabled Veteran-Owned Small Business (SDVOSB), established in 2012 and headquartered in Philadelphia, Pennsylvania. TAG’s leadership team includes seasoned professionals in agriculture and advanced technology, and the company holds two patents, specifically related to digital and artificial intelligence for food supply chain optimization.
AgtechDi software empowers subscribers with digital intelligence to leverage big data and best practices that foster a triple bottom line of People, Planet, and Profit. Food safety, with improved standard operating procedures (“SOPs”) and digital verification, are the springboards for improved health and business profitability. TAG’s Phase 1 customers are vertical farms and greenhouses, with small to medium sized operations. TAG’s Phase 2 software will help optimize food safety and profitability for outdoor farmers, ranchers, restaurateurs, grocers, and more. With over two million U.S. indoor and outdoor farmers and ranchers, over one million restaurants, and more than 40,000 grocery stores and supermarkets, TAG’s total addressable market (“TAM”) is substantial and growing.
TAG's patents were granted in 2018 and 2019, before COVID-19, and Himalaya believes now is the time to fund the development and roll-out of AgtechDi to help ease pressures on the food supply chain and help businesses grow profitably. TAG will start in the U.S. and then expand globally. Controlled environment agriculture (“CEA”) is growing dramatically at an estimated 19% compounded annual rate (“CAGR”). Investment in AgTech is growing dramatically in the billions of dollars each year, and growers are faced with numerous emerging technology choices that TAG helps address with its offerings.
Parallel to the food safety software, TAG helps customers navigate market complexity to align the most applicable tech to their business. Growers face increasing challenges with safety and profitability. TAG’s digital intelligence combined with the ubiquity of the Internet of things (“IoT”) ushers in the FUTURE of FOOD while helping customers Grow Smarter Now.
Management Commentary:
John New, TAG’s founder and Executive Charmain said: “As the AgTech marketplace continues to expand, with more controlled environment agriculture operations in the U.S. and around the world, our team sees excellent potential synergy with Himalaya’s current and prospective holdings.”
Said Vik Grover, CEO of Himalaya: “The investment in The Agrarian Group aligns well with Himalaya’s health and wellness incubation strategy. It creates opportunities for cross marketing with our other investment in GenBio (https://genbioinc.com/) and our wholly owned subsidiary KANAB CORP., operator of https://www.kanab.club/ which we are now bringing out of open beta. We see significant potential for TAG to leverage its patents and experience to propel a positive change in healthy food production as well as the optimization of specialty crops such as cannabis for medicinal and recreational use.”
Deal Structure:
Under the Investment Agreement, Himalaya is issuing TAG 99,686 Himalaya Series B Preferred shares in exchange for 1,242,000 TAG Class A Membership units (19.9%). Himalaya is incorporating the transaction into its Form 10 as a subsequent event to its October 31, 2021 quarter. The Form 10 is currently under auditor review and being prepared for filing on the SEC’s EDGAR system.
About Himalaya Technologies, Inc.
Himalaya Technologies, Inc. formerly known as Homeland Resources Ltd. (https://www.himalayatechnologies.com/) is a health and wellness incubator making growth investments. The Company is a minority investment of FOMO CORP. (OTC: FOMC; https://www.fomoworldwide.com/), a technology business accelerator with a portfolio in clean building solutions and other investments.
Forward Looking Statements:
Statements in this press release about our future expectations, including without limitation, the likelihood that Himalaya Technologies, Inc. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to Himalaya’s stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. Himalaya’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. No information in this press release should be construed in any form shape or manner as an indication of the Company’s future revenues, financial condition, or stock price.
TAG Contact:
Charlie Szoradi
President
(610)-551-5224
Charlie@TheAgrarianGroup.com
Himalaya Contact:
Madison Ryan
VP Investor Relations
(630) 708-0750
IR@himalayatechnologies.com
