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Green Rise Foods Announces Results of Annual General Meeting

Newsfile Corp.
·3 min read

Toronto, Ontario--(Newsfile Corp. - June 29, 2022) - Green Rise Foods Inc. (TSXV: GRF) ("Green Rise" or the "Company") is pleased to announce that shareholders have approved all resolutions at the Company's Annual General Meeting ("the Meeting") held in Toronto today.

All resolutions put forth at the Meeting were approved by shareholders of the Company, including:

  • Setting the number of Directors at Five.

  • The re-election of Vincent Narang, Jerry Mancini, Stanley Thomas, Enrico ("Rick") Paolone and Thomas McKee as Directors of the Company.

  • The appointment of RSM Canada LLP as Auditor of the Company.

  • Approval of the Company's stock option plan.

  • Disinterested shareholder approval of the fair value of the Company's recently announced 16-acre greenhouse acquisition.

  • Disinterested shareholder approval of the 16-acre greenhouse acquisition.

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Full details of the resolutions are disclosed in the Company's circular dated May 31, 2022, which is available on www.sedar.com.

"Today's results including the support of the acquisition of the 16-acre greenhouse, as outlined in the Company's recent press releases and the May 31st circular, aligns with the Company's Strategic Plan to acquire high value greenhouse ranges that diversify the Company's product SKUs and provide consistent and dependable fresh produce to our customers and partners," said Vincent Narang, the Company's Chief Executive Officer.

ABOUT GREEN RISE

Green Rise is a grower of fresh "Grown in Ontario" produce in 73 acres of greenhouse ranges located in Leamington and Kingsville, Ontario. The best-in-class, contract grower of fresh produce, takes pride in providing high-quality, consistent and dependable produce to meet ever growing consumer demand.

Leveraging innovative growing solutions and embracing technology, Green Rise optimizes its operations to generate improved product quality, seek the highest yield, and provide investors with meaningful, growing and sustainable returns. The Company is proud to be an environmentally sustainable investment, producing locally grown, bee-pollinated fresh produce. The Company's first range is EFI (Equitable Food Initiative) certified.

Contact Information

For further information, please contact:

Green Rise
George Hatzoglou
Phone: +1-416-551-5015
E-mail: info@greenrisefoods.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release. Green Rise undertakes no obligation to update any such forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on any such forward-looking statements. Green Rise undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Green Rise or their respective financial or operating results or (as applicable), their securities.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129507