Sprout AI (CSE: SPRT) today announced that it has filed its unaudited interim second quarter (“Q2”) financial statement (“FS”) and management’s discussion and analysis (“MD&A”) for both Sprout AI Inc. (formerly 1262803 B.C. LTD.) and Sprout AI S.A. According to the update, both the FS and MD&A represent an amalgamated report concerning both Sprout AI Inc. and Sprout AI S.A. Sprout AI Inc has reported its interim results ending May 31, 2021, in Canadian dollars, and Sprout AI S.A. has reported its interim results ending April 30, 2021, in U.S. dollars. Among the highlights, the company reported on the proposed acquisition of Sprout AI S.A., which is in the business of planning, designing, implementing and supporting vertical automated aeroponic grow habitats. On Nov. 4, 2020, the company entered an LOI with Sprout AI where the company will acquire a 100% interest in all issued and outstanding securities of Sprout AI. On Dec. 7, 2020, the company signed a securities exchange agreement (the “definitive agreement”), pursuant to which it will acquire all the outstanding securities of Sprout in consideration for 50,000,000 common shares of the company (issued on June 1, 2021) and 10,000,000 performance-based share purchase warrants of the company (granted on June 1, 2021).
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About Sprout AI Inc.
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 multi-level 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 www.SproutAI.solutions.
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