Sprout AI(CSE: SPRT), a leading vertical farming technology company, has addressed trading activity the stock experienced on Oct. 20, 2021. According to the announcement, that company is not aware of any material, undisclosed corporate developments and has no material change to report at this time. The announcement included an observation that the company had completed a private equity placement for $456K at $0.65 on Oct. 9, 2021, the Company continues to see this as an opportunity to acquire new investors with long-term goals of holding the stock. In the announcement, SPRT stated that its major shareholder TheraCann International (TheraCann) continues to support the company’s activities and has not sold any of its shares since the date of first trading, a clear indication of its long-term support of the Company. The company also announce the nomination of Tom Andrews as an independent director to its board of directors. “We would like to assure our investors that the trading volume and resulting downward pressure is not a reflection of the company’s financial health or future business opportunities,” the announcement read. “The company has consistently been meeting and superseding key performance indicators (‘KPIs’) set by our team. The company has and continues to work diligently on opportunities that will bring both revenue and shareholder value. The company is based on a firm foundation concerning the sustainability of the decisions made, including the investors that we invite to participate in our private placements.”
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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 multilevel rolling rack technology increases the cubic cultivation area while mitigating the risk of outside and cross-contaminants. For more information about the company, visit www.SproutAI.solutions.
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