Commencement of Operations at first U.S. Farm

Elevate Farms is pleased to announce the commencement of operations at its first wholly-owned US farm, located in Orange, New Jersey ("Elevate New Jersey"). The entire Elevate New Jersey facility measures 14,000 square feet (1,300 square meters) which includes 4,750 square feet (441 square meters) of unmanned, fully autonomous, grow room space along with processing, packaging and administration. The farm has a capacity to produce up to 11,000,000 plants, or equal to 500,000 pounds (227,000 kilograms) of plants, annually.

Located only 20-miles from Manhattan, Elevate New Jersey is exceptionally well positioned on the US Eastern Seaboard. Our facility is able to locally supply and distribute food to an astounding 19 million people - all within a one-hour drive of the facility. This latest Elevate Farm facility is among the most efficient in the world with over 105 lbs per foot of annual production over the grow area and fewer than 15 employees.

Elevate Farms is committed to building farms to supply high quality, locally grown, fresh produce to feed the masses. With plans for expansion in the US, New Zealand and Central Europe, Elevate Farms will look to become one of the largest producers of leafy greens in the world.

"The entire team has been working relentlessly to bring this latest farm on line. We are extremely pleased with the early results from New Jersey" said Kevin Epp the Chief Operating Officer of Elevate Farms.

"At over 100 pounds per square foot of grow space, Elevate Farms is among the most efficient vertical farms in the world. This latest farm will be supplying high quality leafy greens directly to wholesale distribution in the North East, a model which we expect to replicate around the world in the near future" said Amin Jadavji, the Chief Executive Officer of Elevate Farms.

Elevate Farms Announces New Corporate Appointments

Nov 10, 2022

With unanimous approval of the Board, Elevate would like to announce the appointment of Brad Katsuyama and Nikolas Oetker to its Advisory Board.

Nikolas has a long history of experience with major global food production ranging from manufacturing operations in China to most recently European Marketing.

Brad was previously Chief Executive Officer, and is currently Chairman, of the Investors Exchange (IEX Group, Inc.), a stock exchange founded in 2012 in order to mitigate the effects of high-frequency trading. IEX was launched as an US national securities exchange in September, 2016 and Brad acted as CEO of the IEX from its founding and remains Chairman today.

Amin Jadavji, CEO of Elevate Farms stated: "Elevate has been quietly developing unique scaleable technology in the vertical farming sector aimed at supplying directly into existing distribution channels. With the launch of our first US farm, we expect to quickly accelerate global expansion and pursue our goal of providing high quality leafy greens to the masses. Both Nikolas Oetker and Brad Katsuyama are exceptionally qualified to help Elevate Farms navigate this path."

"Nikolas has been with one of the world's largest private food producers and therefore has great insight into distribution at a global level. His unique expertise of managing food distribution at the largest volumes globally will aid Elevate well as we look to expand our market and make vertical farming a viable option for all."

With regard to the appointment of Brad Katsuyama, Amin stated: "Brad's unique story is remarkably portrayed in Michael Lewis's book Flash Boys: A Wall Street Revolt which, in April, 2014, reached No. 1 on The New York Times Best Seller list. What Brad has managed to accomplish in creating a new, democratized stock exchange, is a triumph. His against-all-odds success and real-world experiences make him a truly wonderful addition to our team as we transition from developing vertical farming technology to scaling global food production operations."

Elevate Farms welcomes the addition of both Nikolas Oetker and Brad Katsuyama to our team that is already buoyed by outstanding institutional backing and corporate governance expertise from existing Board members Mark Skapinker and Douglas Janzen.

Investment & Funding Update: C$26 Million Cash Bankrolled in 2022

TORONTO, Oct. 5, 2022 - Elevate Farms Inc. ("Elevate" or "Elevate Farms"), a tech-based vertical farming company focused on cost-effectively growing leafy green vegetables at mass scale, wishes to announce that, as of October 3, 2022, the company has raised in excess of C$26 million in 2022 ("Financing") consisting of equity and secured project finance through a series of investments worldwide. The Financing was again anchored by long-time supporter, Brightspark Capital Inc. ("Brightspark"), a veteran venture capital firm based in Montreal and Toronto, Canada and represented on the Elevate Farms Board by founding Partner Mark Skapinker.

Amin Jadavji, CEO, Elevate Farms, stated "Brightspark's return as a significant investor in our most successful period of fundraising, along with the election of Douglas Janzen to our Board at the last meeting of shareholders, speaks to the exceptional growth of profile and institutional support, both internally and externally, Elevate has received in the capital markets industry. We are now exceptionally well capitalized and buoyed by outstanding institutional backing through commercial and corporate governance expertise."

"The farming industry is going through massive changes as the effects of weather change, standardization and modernization are rapidly becoming reality," said Mark Skapinker, Partner at Brightspark. "Elevate Farms' solution addresses the market need and its unique approach sets it up for market leadership. We are very excited by the prospects of the company."

Also, on September 20 2022, Elevate is proud have been affirmed as a founding and leading member of the Vertical Farming World Congress being one of the first farming companies to sign the Vertical Farming Manifesto highlighting the impact and contribution the industry intends to make to transform current food systems and help to solve one of humanity's toughest challenges of providing food for a growing population in a sustainable, circular way. Amin Jadavji, noted "Elevate Farms has been committed to developing food production systems designed to produce a high volume of leafy greens at a competitive cost. We are excited to be part of the solution to use emerging technology in order to feed people for a sustainable future."

Over 20 vertical farming companies commit to a sustainable food system

Leading vertical farming companies have committed to a Vertical Farming Identity Statement and Industry Manifesto. An unprecedented industry momentum to contribute jointly to a sustainable transformation of global food systems.

Signing companies are 80 Acres, AeroFarms, Bowery, Crop One, CubicFarms, Elevate Farms, Fifth Season, Fischer Farms, Freight Farms, Infarm, Infinite Acres, Jones Food Company, Kalera, La Grangette, Ljusgårda, N.THING, Plenty, Stacked Farm, Urban Crop Solutions, Urban Harvest, Vertical Future, YesHealth Group and ZipGrow
The Vertical Farming Manifesto was signed at the Vertical Farming World Congress in Brussels (September 19-21).

Brussels, September 20, 2022 – Leading vertical farming companies signed the first Vertical Farming Manifesto and Identity - both clear and bold industry standards. They highlight the impact and contribution the industry intends to make to transform current food systems and help to solve one of humanity’s toughest challenges of providing food for a growing population in a sustainable, circular way.

The Vertical Farming Identity and the Manifesto describe the urgency of transforming current food systems and explain how vertical farming systems can contribute significantly to designing food systems which are resilient and future-proof. Through technological innovation, indoor vertical farming decouples food production from external factors like climate or public health crises. By localising production and controlling the growing environment, vertical farming provides pesticide-free produce, uses significantly less land and water, and requires fewer transportation miles.

Toward the industry’s goal of driving the transformation of food systems, the companies strive to set high standards by aligning with globally accepted impact frameworks, for example, the Science Based Targets initiative (SBTi), B Corp, or the United Nations Sustainable Development Goals (SDGs). Furthermore, the industry is dedicated to continuously investing in research and development to improve vertical farming technology and grow even smarter and more sustainable food systems.

Quotes from signatories as notes to editors

80 Acres Farms: “As money pours into the vertical farming industry and media attention follows, it has never been more important for us to define who we are and what we stand for. Our customers trust that we grow as sustainably as possible, ensuring a consistent food supply for generations to come. With this manifesto, we are affirming that as an industry.” –Mike Zelkind, CEO, 80 Acres Farms.

AeroFarms: “Since Day 1, AeroFarms has been proud to pioneer and lead indoor vertical farming that has now blossomed into a major force to address our agriculture and climate challenges. As Certified B Corp, we are proud to serve as a catalyst to advance our industry forward as a collective as we continue our mission to grow the best plants possible for the betterment of humanity.” –David Rosenberg, CEO and Co-Founder, AeroFarms

Bowery: "We believe that everyone deserves access to sustainably grown produce that gives more back to our planet than it takes," said Katie Seawell, Chief Commercial Officer, Bowery. "We are proud to come together as an industry to build a global food supply chain that is transparent, agile and resilient so that consumers know where and how their food is grown."

Crop One: “For the continued existence of humanity and protection of the earth, the expansion, development and collaboration of the vertical farming industry is critical. We are proud and excited to be working together with our industry peers on the VF Identity Statement and Industry Manifesto.” –Craig Ratajczyk, CEO, Crop One

CubicFarms: “We are running out of the resources to produce the food we need responsibly, sustainably, and affordably. We believe to protect our resources and ourselves, food and feed must be localized, and grown indoors by farmers. We are proud to join and work with our industry peers to highlight the need to democratize farming and to create local independent food ecosystems now and for future generations.” –Dave Dinesen, CEO, CubicFarms

Elevate Farms: “Elevate Farms has been committed to developing food production systems designed to produce a high volume of leafy greens at a competitive cost. We are excited to be part of the solution to use emerging technology in order to feed people for a sustainable future.” –Amin Jadavji, CEO, Elevate Farms
Fifth Season: "Fifth Season has never shied away from thinking big or aiming high, so we're proud to stand alongside other vertical farming companies in an effort to collectively raise the bar within our industry. Tech-driven agriculture solutions have so much potential to positively affect the global food system. We're excited to unify with our peers to elevate the standards and do the most good for the most people together." –Austin Webb, CEO & Co-Founder, Fifth Season

Fischer Farms: “Fischer Farms is proud to support the Vertical Farming identity statement and industry manifesto. The ambitions of this movement have a direct synergy with our own vision – to transform current food systems and feed the world in a sustainable way. By joining forces with other leading vertical farming companies, we can champion the future of farming, safeguarding global food security.”

Freight Farms: "We are pleased to come together as an industry on this manifesto as the planet will require CEA to be part of the global food solution." –Rick Vanzura, CEO, Freight Farms

Infarm: “As a purpose-driven company, we have always been driving and advocating for the change of the current food systems. Coming together as an industry and collectively expressing our shared values in a joint identity and manifesto is truly powerful. Together, we can really make a difference and this is just the beginning. Infarm is proud to work along with industry peers on a new food system” –Erez Galonska, CEO, Infarm

Infinite Acres: “Vertical farming technology can make fresh, local, sustainably grown food accessible to everyone. The potential is incredible, but we can only live up to it if we grow thoughtfully, taking the quality of our business practices as seriously as we do the quality of our produce. I am glad to see the industry rally around these standards.” –Tisha Livingston, CEO, Infinite Acres

Jones Food Company: "Jones Food Company is delighted to join and contribute to the Vertical Farming identity statement and industry manifesto. As our industry continues to grow it is crucial that we, alongside our colleagues around the world, present a united vision for what we are striving to achieve. Together our voices are amplified, championing the numerous benefits of vertical farming and what we have to offer the global food system, namely; growing more of the most delicious fresh food, whilst using far fewer natural resources and bringing us closer to the food we eat." James Lloyd- Jones CEO

Kalera: “At the heart of our business is a strong commitment to a better world,” said Jim Leighton, President & CEO of Kalera. “We understand that we have a critical role to play in the transformation of food systems, we strive to operate at the cutting edge of sustainable agriculture, and contribute to global food security. Kalera is excited to join our industry peers and add our name to the Vertical Farming Identity Statement and Industry Manifesto.”

La Grangette: “Vertical Farming is a complementary solution to traditional and organic agriculture. Two major trends are reshaping the way we live: we take care of both our health – especially what we eat – and our impact on the environment. These two trends are fully matching with the Vertical Farming values. With La Grangette we are proud to make a positive contribution for the next generation.” –Thibaut Pradier, CEO, La Grangette

Ljusgårda: “As an industry, indoor vertical farming is important and necessary to create a sustainable global food system and reduce climate change. At Ljusgårda we are proud and happy to be a part of The Vertical Farming Manifesto, and together with our colleagues in the industry we are ready and able to make a big impact globally.” – Magnus Agervald, CEO, Ljusgårda

N.THING: “It’s a significant moonshot to contribute to a resilient food system initiated with leading vertical farming companies. We do not stop our challenges to achieve optimal technologies but also, in a more sustainable value chain with no limits.” – Hyeyeon Leo Kim, CEO N.THING

Plenty: "Indoor vertical farming will - and must - transform our food system. For that to happen, we must work together as an industry to align on a shared vision and standards," said Dana Worth, SVP of Commercial at Plenty. "We look forward to working with others in the industry and our key stakeholders to define those standards and deliver products that are great for consumers, profitable for retailers and good for the planet."

Stacked Farm: “Our industry has rightly taken up the challenge to sustainably and efficiently feed our growing populations, while at the same time protecting and preserving our planet’s resources for future generations. Stacked Farm proudly puts its signature to the Vertical Farming Industry Manifesto and commits to making products that are sustainable, accessible and affordable to all people.” –Conrad Smith, CEO, Stacked Farm

Urban Crop Solutions: “Our industry has demonstrated its early potential, but there is much yet to be realised as we continue to innovate. At Urban Crop Solutions, we continuously strive to make the entire indoor farming journey more circular, and to demonstrate our added value for new and emerging food production methods. As with any nascent industry, open and close collaboration is necessary, especially where sustainability is concerned. We are therefore proud to join our industry peers in supporting the identity statement and manifesto.” –Maarten Vandecruys, Founder, Urban Crop Solutions

Urban Harvest: “Climate change is happening now. CEA is in our opinion part of the solution and therefore believe that the companies active in this industry should try to define a common strategy and identity. Multilayer farming, both in greenhouses and warehouses, has the potential to disrupt this market and make fresh and high quality food available all over the world."

Vertical Future: "Vertical Future is proud to add our name to the Vertical Farming Identity Statement and Industry Manifesto. Our company was founded to make a positive difference to the health of both people and planet and we have built a team focussed on engineering and plant science to improve the quality of crops whilst driving down the production cost, making produce from Vertical Future systems accessible to all." –Jamie Burrows, CEO Vertical Future

YesHealth Group: “YesHealth Group is proud to sign the Vertical Farming Industry Manifesto and help advance the industry towards our shared goals. We believe that the industry must come together and collaborate to create realistic expectations in order to make a real impact.” –Winston Tsai, CEO YesHealth Group

ZipGrow Inc.: “ZipGrow Inc. is proud to join other international CEA industry leaders in signing this Vertical Farming Identity Statement and Industry Manifesto. As our sector solidifies itself as a mainstream form of agriculture and food production, it is essential to work together to ensure we continue to provide safe, healthy, and sustainable local food and workplaces for communities around the world.” –Eric Lang, President ZipGrow Inc.

About 80 Acres Farms

80 Acres Farms is a Hamilton, Ohio-based vertical farming company that grows fresh, local produce year-round. The company currently operates eight farms in the United States. 80 Acres Farms products—just-picked salads, tomatoes, cucumbers, herbs, microgreens, and berries—are available from a range of national and regional retailers, as well as key national foodservice distributors.

About AeroFarms

Since 2004, AeroFarms has been leading the way for indoor vertical farming and championing transformational innovation for agriculture. On a mission to grow the best plants possible for the betterment of humanity, AeroFarms is a Certified B Corporation with global headquarters in Newark, New Jersey. Named one of the World’s Most Innovative Companies by Fast Company two years in a row and one of TIME’s Best Inventions in Food, AeroFarms patented, award-winning indoor vertical farming technology provides the perfect conditions for healthy plants to thrive, taking agriculture to a new level of precision, food safety, and productivity while using up to 95% less water and no pesticides ever versus traditional field farming. AeroFarms enables local production to safely grow all year round, using vertical farming for elevated flavor.™ In addition, through its proprietary growing technology platform, AeroFarms has grown over 550 varieties of plants and has developed multi-year strategic partnerships ranging from government to major Fortune 500 companies to help uniquely solve agriculture supply chain needs. For additional information, visit: https://aerofarms.com/.

About Bowery

Founded in 2015, Bowery Farming is on a mission to democratize access to high-quality, local, safe, and sustainable produce. Bowery builds smart indoor farms near cities, growing fresher, pesticide-free Protected Produce with bold flavor in precisely controlled environments, 365 days a year. At the heart of the farm is the proprietary BoweryOS, which integrates software, hardware, sensors, AI, computer vision systems, machine learning models, and robotics to orchestrate and automate the entirety of its operations. As a result, each farm creates far less waste and uses a fraction of the water and land compared to traditional agriculture.

About Crop One

Headquartered in Massachusetts, USA, Crop One is a technology-driven indoor vertical farming company on a mission to cultivate a sustainable future to meet a global demand for fresh, local, and safe food. Through its Plants-First™ approach and industry-leading technology platform, Crop One grows fresh, delicious leafy greens using 95% less water than field-grown produce. Crop One sells its fresh, local produce under the FreshBox Farms label, available at a variety of retailers across southern New England.

About CubicFarms

Founded by farmers in 2015, CubicFarm Systems Corp. (CubicFarms) is developing an automated, modular, onsite, indoor growing technology that enables farmers to grow in any climate, 365 days a year, using significantly less land, 95% less water, less energy, and less physical labour than traditional growing. Our unique, patented Crop Motion™ technology is the next level vertical farming at commercial scale. This technology maximizes cubic square footage by moving plants through the module while minimizing and recycling resource use.

About Elevate Farms

Elevate Farms Inc., a patented technology-driven vertically-stacked indoor farming enterprise, is developing high-yield and competitively priced leafy-green food production systems towards realizing a safe and sustainable future. With well over a decade of advanced photobiology research already deployed, we have built farms in several countries on multiple continents and offer a truly scalable global solution.

About Fifth Season
Fifth Season is a food system pioneer creating a new category of local, fresh food grown in fully-automated vertical farms. Its farms are run by proprietary software built in house, and its software and robotics system is what enabled the team at Fifth Season to deliver an unprecedented, entirely replicable farm that produces consistently fresh leafy greens and prepared salads. The company aims to decentralize the fresh food supply chain, produce fresh produce more efficiently in smaller spaces, and meet cravings for just-harvested, regionally-grown ingredients and inspired meals.

About Fischer Farms

Fischer Farms is an independent company combining agri-tech and renewable energy expertise to revolutionise the future of farming. Backed by Gresham House, an asset management company specialising in investments with a sustainable, positive impact, Fischer Farms is leading the way in scalable food production to provide a more resilient and sustainable method to feed the nation.

About Freight Farms

Founded in 2012, Freight Farms debuted the first vertical hydroponic farm built inside an intermodal shipping container with the mission of democratizing and decentralizing the local production of fresh, healthy food. Freight Farms now has the largest network of connected farms in the world, with global customers ranging from small business farmers to corporate, hospitality, retail, education, and nonprofit sectors.

About Infarm

Founded in 2013, Infarm is one of the world's fastest-growing vertical farming companies. Partnering with more than 30 of the world’s top retail chains in 10 countries in North America, Asia, and Europe and producing a variety of more than 75 plants. The company's modular farming systems are highly efficient, capable of growing more than 500,000 plants annually on just 40m2 of floor space. In addition to using 95% less land, Infarm requires 95% less water than traditional farming methods and uses no chemical pesticides. Infarm has committed to setting a science-based net-zero carbon target through The Science Based Targets initiative.

About Infinite Acres

Infinite Acres is a Dutch-American technology company that designs and builds vertical farms. The company’s team of indoor agriculture professionals—from engineers to plant physiologists—is committed to changing the way the world eats by building a better way to grow. Infinite Acres is a wholly owned subsidiary of 80 Acres Farms.

About Jones Food Company

Builders, farmers, grocers. Jones Food Company is a British vertical farming business and the owner/operator of Europe's single largest vertical farm growing hundreds of tonnes of delicious herbs and leafy greens every year. Our farms grow 365 days a year using renewable energy, consume 95% less water and zero chemical pesticides bringing our customers closer to the freshest and highest quality produce

About Kalera

As a leader in controlled environment agriculture, Kalera is driven by our belief that vertical farming can play an important role in securing access to fresh produce for a growing world population facing climate change. Through our proprietary technology, we sustainably grow local, delicious, nutrient-rich, pesticide-free, non-GMO leafy greens year-round. Our automated, data-driven, hydroponic vertical farms produce higher yields and use 95% less water, and 99% less land than traditional farming. Sold under the Kalera brand, our leafy greens are “better than organic” and priced competitively, always with the end consumer in mind. Kalera is headquartered in Orlando, Florida with farms in Orlando, Atlanta, Houston, Denver, and Kuwait, and additional farms under development around the world.

About La Grangette

Founded in 2018 in France, we believed that in a close future every kitchen will be equipped with some Home farming appliances as it has been one day with fridge or oven. La Grangette is fast tracking this new market by partnership with home appliances and seed companies. Our ambition is to deliver worldwide consumables for home farming appliances.

About Ljusgårda
Swedish Ljusgårda is one of the largest indoor vertical farms in Europe. With an industrial approach the company aims to democratise sustainable and high-quality produce through large scale production and competitive consumer pricing. Ljusgårda specializes in building AI-optimised indoor ecosystems to create controlled environments with ideal growing conditions for each specific plant. Founded in 2018 and backed by reputable and long-term investors, Ljusgårda strives to become a leader in its industry.

About N.THING

Established in 2014, N.THING is a Seoul-based AgTech company leading innovation in agricultural products to the farm-to-table food system by combining IoT technology and data. It developed the world’s first scalable modular vertical farm ‘CUBE’, which is a modularized farm with mass productivity where a dedicated OS provides the most optimised environment for each crop. N.THING is a winner of Best of Innovation at the CES 2020 in Smart City category, also awarded in CES 2022 in Sustainability. Currently running vertical farms in Youngin, Andong, Icheon and in-store farm showroom ‘Sik Mul Sung Dosan’ in Korea, and Abu Dhabi in the U.A.E.

About Plenty

Plenty is rewriting the rules of agriculture through its technology platform that can grow fresh produce anywhere in the world, year round, with peak-season quality and up to 350x more yield per acre than conventional farms. Plenty’s proprietary approach preserves the world’s natural resources, makes healthy produce available to all communities and creates resilience in our food systems against weather, location, pests and climate. Plenty operates an indoor plant science research facility in Laramie, Wyoming, and is currently building an advanced, vertical, indoor farm in Compton, California, and the first indoor vertical farm campus near Richmond, Virginia. For more information, follow Plenty on Twitter, Instagram, Facebook or LinkedIn, or visit www.plenty.ag.

About Stacked Farm

Stacked Farm’s unique end-to-end automation allows us to to provide high quality, cost competitive, everyday products. Our patented technology will deliver tailored solutions that exceed consumer expectations of sustainability, food safety and food quality and we will always promote the positive impact of indoor farming on the planet and its benefits for all future generations.

About Urban Crop Solutions
Urban Crop Solutions is an end-to-end indoor farming solutions provider, supporting clients with contract research trials, business planning, as well as the engineering and construction of indoor farms. Their own award-winning indoor farming solutions can be commissioned and scaled anywhere in the world, from remote islands to crowded metropoles. In its state-of-the-art UCS Research Centre, and with their proprietary PharmSpee^TM technology platform, the team of plant scientists develop recipes for applications ranging from staple foods to ingredients for cellular food products. With a library of 290+ plant growth recipes, 50+ modules deployed globally, and installations in 4 continents, UCS is the go-to partner for commercial growers and public-private research institutes.

About Urban Harvest

Founded in 2018, Urban Harvest is a no-nonsense multilayer solutions provider for the production of strawberries, anywhere and anytime. Together with industry leaders in their respective markets, Urban Harvest is not only able to ensure the performance and reliability of its systems, but also has the capabilities to execute projects worldwide. Our solutions are based on extensive commercial growing experience, valuable feedback and close relationships with customers and permanent improvements. Our company driver is to enable our customers to grow high quality strawberries anywhere at anytime.

About Vertical Future

Based in London, Vertical Future is a technology and research company, delivering a range of complex hardware, software, and infrastructure solutions for the controlled environment agriculture sector. Our team of more than 50 staff is made up of engineers, software engineers, plant scientists, and operators, all focused on system and sector-wide innovation and change. Vertical Future's mission is to improve efficiency, output, and quality in crop production, ultimately improving the health of both the planet and its inhabitants. A Vertical Future is one where global crop production is no longer at threat, humans are healthier, and there is a better balance between population growth and the natural world.

About YesHealth Group
YesHealth Group is a Taiwan based vertical farming technology pioneer with a mission to transform agriculture and advance people’s health through the use of innovative vertical farming technology. YesHealth Group has over the past decade persistently pushed the technological boundaries and become a front runner in the vertical farming industry. As a result, YesHealth Group has been named a Technology Pioneer by the World Economic Forum for its contribution in healthy and sustainable food production.

About ZipGrow Inc.

ZipGrow Inc. is an international leader in indoor vertical farming technology, empowering people to grow fresh food locally and sustainably.Our flagship product, the ZipGrowTM Tower, is a core component of many of the world’s most innovative farms. Our technologies support entrepreneurs, non-profits, home growers, schools, and research centers, and is backed by the support of in-house master growers, engineers, and an extensive offering of hydroponic education.

Elevate Farms Inc., Tech-based Vertical Farming, Announces Results of Annual General and Special Meeting

TORONTO, Sept. 19, 2022 /CNW/ - Elevate Farms Inc., a tech-based vertical farming company focused on cost-effectively growing leafy green vegetables at mass scale, is pleased to announce the results of its annual general and special meeting of shareholders held on Friday, September 16, 2022.

At the Meeting, Shareholders re-appointed the three existing directors of the Corporation, being Amin Jadavji, Per Aage Lysaa, and Mark Skapinker, and appointed one new director, being Douglas Janzen.

"I have made 3 separate investments into Elevate and believe it will become a very important player in the vertical farming industry. I think the company has huge potential and is an attractive opportunity for ESG investors." says Douglas Janzen, Director of Elevate Farms.

Mr. Janzen has over 20 years of experience in banking investments and managing growth companies with a particular focus on life sciences and biotech. It is expected that Mr. Janzen's involvement will help fuel Elevate's growth in the coming years.

ABOUT ELEVATE FARMS

www.elevate.farm

SOURCE Elevate Farms Inc.

For further information: Graham Keltie, gkeltie@elevate.farm

Elevate Farms Executes Agreement to Bring Food Security to the Yukon and other Isolated Northern Territories of Canada

TORONTO, May 12, 2020 - Elevate Farms Inc. is pleased to announce it has entered into an agreement for an initial build-out commitment of US$10,000,000 with North Star Agriculture Corp. to bring Elevate’s proprietary vertical farming, and cost-effective production of leafy green vegetables, to the Yukon and other isolated northern territories of Canada. Elevate and North Star have agreed to develop and construct a series of automated large-scale facilities dedicated to the mass production of leafy green plants implementing, among other techniques, the use of patented LED lighting, moving grow boxes and controlled growth environments.

The Agreement contemplates the development of CEF Facilities for the production and supply of leafy green plants employing financing, as well as operations and retail expertise, from North Star and industrial and technical support of the CEF Technologies from Elevate. Each element of the process of development of the CEF Facilities are conditional upon the completion of supporting documentation including the settlement of definitive agreements including, but not limited to, shareholders’ agreement, reverse vesting agreement, licensing agreement and supply agreement. Each CEF Facility, once complete and operational, is expected to produce an estimated 10-tons (9,100 kilograms) of leafy green vegetables per week, which is the equivalent to in excess of 1,000,000 pounds (473,200 kilograms) of leafy green vegetables per year.

Amin Jadavji, Elevate Farm’s Founder and CEO, stated “We are extremely excited to partner with North Star to bring food security and nutrition to a particularly isolated and vulnerable region of Canada. This is Elevate Farms’ second Canadian million-pound facility for which Elevate has secured financing commitments - with significantly larger faculties already financed in New Jersey, USA and in Hamilton, New Zealand. Elevate is making excellent progress in executing our plan on creating a global brand in the area of food security and local sustainability.”

Sonny Gray, CEO of North Star, stated: “North Star Agriculture is committed to #FeedtheNorth by developing a variety of food security based projects and initiatives. Our partnership with Elevate perfectly unites with our goal of developing agriculture ‘north of 60’ with the aid of modern technology and sustainable farming practices.”

Travis Kanellos, Elevate Farm’s Chief Strategy Officer stated: “Food security, as defined by the United Nations' Committee on World Food Security, means that all people, at all times, have physical, social, and economic access to sufficient, safe, and nutritious food that meets their food preferences and dietary needs for an active and healthy life. As we have become aware, broken links in supply chains, at home and abroad, have become all-too-real as communities implement travel and supply restrictions to combat COVID-19. The underlying causes of food insecurity are not only drought and conflict in far away lands, but also distribution and access concerns in the end user’s locality.”

Amin continued, “Our vertical farming solution provides fresh and healthy leafy green vegetables - the only vegetables that cannot be frozen for later consumption - by securing availability, access, use and utilization, as well as increased general stability with the potential for years-long self-sufficiency during uncertain times which may include events such as government mandated quarantine and self-isolation. Elevate’s patented food production solution goes a long way to solve the issues facing the North, and other dependant environments affected as they may be difficult to reach regions or fragile ecosystems. ”

ABOUT ELEVATE FARMS

Elevate Farms Inc., previously operating corporately as Intravision Greens Inc., is a technology-driven vertically-stacked indoor farming enterprise focused on mass scale and cost effective operations with patent secured and patent pending technology as well as over a decade of advanced photobiology research deployed.

Elevate Farms Completes Capital Funding to Scale Operations and Secure IP

February 10, 2020

Toronto, CANADA / A tech-based vertical farming company focused on cost-effectively growing leafy green vegetables at mass scale, Elevate Farms Inc. (“Elevate Farms”) is pleased to announce the closing of a $1.8M funding led by Brightspark Ventures.

Elevate Farms unique solution uses hydroponics and a proprietary automation system, paired with photobiology, to grow high-quality leafy greens (such as arugula, kale and basil) in a climate controlled environment.

Elevate Farms’ system aims to deliver a product that is larger, tastes better, and has higher nutritional content than traditionally-grown leafy greens – all at a lower cost. The produce grown by Elevate Farms also has the benefit of being local, completely non-GMO, as well as pesticide and chemical free.

“Elevate Farms represents the next generation of indoor farming: their system solves some of the biggest problems the first wave of vertical farms experienced” says Mark Skapinker, Managing Partner at Brightspark Ventures. He continued, “their edge is their ability to cost-effectively create a tasty and nutritious product - and grow it at a mass-market scale. We invested because we saw meaningful potential, being a team of world leading experts that can execute, proven technology, and true science being applied into a massive marketplace.”

Elevate Farms is the first to commercially implement an automated climate-controlled environment for plant-production that utilizes far less labour than other indoor farms.

Amin Jadavji, Elevate Farm’s CEO stated: “With the new funding, the company is now ready to scale significantly. This financing will allow us to execute on our currently secured flagship facilities in New Jersey and Niagara, each projected to produce in excess of one-million pounds of leafy greens annually.” Mr. Jadavji continued: “The funding will also fuel our plans to scale the business, grow our team, build and secure new and existing IP, prepare for business partnership opportunities, as well as finalize initial major orders and operational financing.”

Travis Kanellos, Elevate Farm’s Chief Strategy Officer added: “This is a major milestone for our North American operations. It also allows us to forge ahead on our global partnerships, as well as execute our global plan to build out facilities internationally over the next 12-months.”

ABOUT ELEVATE FARMS

ABOUT BRIGHTSPARK VENTURES

Brightspark is one of Canada’s top performing venture capital firms, actively investing in exceptional entrepreneurs since 1999. We provide growth capital and expertise to disruptive, market-transforming Canadian tech companies in seed to growth stages. Since inception, Brightspark has invested across traditional VC Funds, and more recently under an investment model open to individual and non-institutional investors.

www.brightspark.com

Toronto Life Feature

In November 2019 Toronto Life ran a piece outlining how local start-ups were using various cutting edge technologies to change the future of agriculture. The title of the article is “The Farming Revolutionaries”. Vertical farming is revolutionizing agriculture and our facility using technology developed at the University of Guelph was featured as one of the companies disrupting the agriculture industry with tech.

To read the feature article in its entirety visit: https://torontolife.com/food/these-farming-revolutions-are-changing-the-way-we-grow-food/

For any general inquiries including press and investor, please contact us via our contact form.

Globe and Mail Feature

Our President and CEO Amin Jadavji, along with our technology, was featured in the Globe and Mail. The piece titled Factory of the Future - The Automatic Farm was run in October 2019. The article outlines information on some of the background technology along with the Elevate facility (formerly We The Roots).

To read the feature article in its entirety visit: https://www.theglobeandmail.com/business/rob-magazine/article-the-automatic-farm/