Save Foods (NASDAQ: SVFD), a pioneer in sustainable solutions for agriculture, is reporting on the results of its special meeting of stockholders; the meeting was held yesterday, Feb. 8, 2024. During the meeting, SVFD stockholders approved the issuance of 20% or more of the company’s issued and outstanding shares of common stock under the standby equity purchase agreement that the company entered on Dec. 22, 2023. The agreement is with YA II PN Ltd., a fund managed by Yorkville Advisors Global LP. According to the announcement, YA agreed to purchase up to $20 million of the company’s shares of common stock over the next 36 months. Stockholders also approved changing the name of the company to N2OFF Inc., which is part of the company’s rebranding strategy and better reflects the company’s commitment to finding environmentally friendly and economically viable solutions for agriculture and greenhouse gas emissions reduction. “We are very pleased with the continuance vote of trust of our stockholders in management-proposed actions, demonstrated by this approval,” said Save Foods CEO David Palach in the press release.
To view the full press release, visit https://ibn.fm/Qr8Ps
About Save Foods Inc.
Save Foods is an innovative agrifood tech company that through its three operational arms delivers integrated solutions for improved safety, quality and sustainability every step of the way from field to fork. Save Foods Ltd., Save Foods’ majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination, significantly reduce the use of hazardous chemicals and prolong fresh produce’s shelf life. Nitrousink Ltd., Save Foods’ majority-owned Israeli subsidiary, contributes to tackling greenhouse gas emissions, offering a pioneering solution to mitigate nitrous oxide emissions, a potent greenhouse gas with 265 times the global warming impact of carbon dioxide. Nitrousink aims to promote agricultural practices that are both environmentally friendly and economically viable. Plantify Foods, Save Foods’ minority-owned Canadian subsidiary, offers a wide range of clean-label healthy food options that are nutritious, gluten free and nonallergenic; that use whole natural ingredients; and that are easy to prepare. For more information about the company, visit www.SaveFoods.co.
NOTE TO INVESTORS: The latest news and updates relating to SVFD are available in the company’s newsroom at https://ibn.fm/SVFD
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