Tel Aviv, Israel, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Sativus Tech Corp (OTC: SATT), an Agri-Food Tech company that is developing the protocols and technology for growing multiple annual cycles of top-quality saffron in its indoor vertical farms, today announced Uri Ben-Or has been appointed as the new Chief Financial Officer. Ben-Or will be responsible for Sativus Tech’s financial strategies as the company prepares to enter the B2B market. His appointment takes effect 1 January 2024, and he will join the Board with effect from this date.
Saffron Tech, Sativus Tech subsidiary, utilizes its advanced R&D cultivation technology within a Controlled Environment Agriculture (CEA) system, ensuring consistent, year-round high-quality saffron production. Positioned to tap into a market projected to reach $3.7 billion by 2032, the company offers a one-stop shop for premium saffron ingredients and nutraceutical products. On Q2/2024 Saffron Tech will launch the first-of-its-kind Saffron Cultivation pilot site, demonstrating saffron commercial production.
“Uri is an accomplished CFO and business executive who has successfully led several publicly traded companies towards profitable growth,” said Tal Wilk Glazer, CEO of Sativus Tech. “He brings a proven track record of growing companies and driving strong financial results to create value for shareholders.”
Uri is a proficient CPA with over 25 years of experience in corporate finance, accounting, IPOs, and operations of public companies on various exchanges including TASE, NASDAQ, NYSE, and more. Mr. Ben-Or earned his BA and MBA from the esteemed Bar Ilan University.
“I am thrilled to take on this new role at such an exciting time of transformation and growth for Saffron Tech,” said Uri Ben-Or. “I look forward to working together with my board colleagues and the entire Saffron Tech team as we confront a competitive marketplace.”
About Sativus Tech Corp:
Sativus Tech Corp (OTC: SATT) is an AgTech company that uses its advanced vertical farming technology to increase the production of low yield food products in the global marketplace. The company focuses on the research, development, and commercialization of agriculture products that are high in demand but scarce in supply. A reliable production of these highly coveted food products can be used in various applications including pharmaceutical, nutraceutical, culinary, beauty, health, and wellness industries. Sativus Tech Corp’s technology offers a responsible and sustainable way to grow crops in a world confronted with environmental challenges and dwindling earth reserves, diminishing water sources and unstable weather conditions.
About Saffron Tech:
Sativus Tech Corp subsidiary, Saffron Tech, is revolutionizing the AgTech world by creating the protocol and technology to grow saffron in indoor vertical farms. It is also increasing the production of the spice by multiplying the number of annual harvests. The pharmaceutical industry is now turning more of its scientific attention to saffron’s medicinal properties, which are now being used in pharmaceutical and nutraceutical applications for ADHD, anxiety and more.
Forward-Looking Statements:
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "expects," "anticipates," "intends," "estimates," "plans," "potential," "possible," "probable," "believes," "seeks," "may," "will," "should," "could" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the Company's international manufacturing and supply chain, market acceptance of the Company's smart luggage, successfully implementing the Company's growth strategy, dependence on key Company personnel, changes in economic conditions, competition and other risks including, but not limited to, those described from in the Company's Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on November 11, 2023, and other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investor Relations:
Tal Wilk Glazer
CEO
(800) 608-6432
