ABVE

EF Hutton's Decline: Once a leading player in the SPAC market, EF Hutton is now facing turmoil due to a public feud between its top executives, resulting in lawsuits alleging mismanagement and substance abuse.

Legal and Financial Troubles: The lawsuits have uncovered a federal investigation into securities fraud and serious allegations of gambling losses and inappropriate behavior among the partners.

Acquisition Impact: Above Food's recent acquisition of The Redwood Group's specialty crop food ingredient division boosts its pet food business to approximately US$110 million in combined revenues, enhancing its position in the growing plant-based pet food market projected to reach a 9% CAGR through 2032.

Market Trends and Opportunities: The pet food industry is experiencing significant growth driven by trends such as increased pet ownership, the humanization of pets, and a rising demand for healthier, plant-based nutrition options, positioning Above Food as a key player in this evolving market.

Acquisition Impact: Above Food Ingredients has acquired the specialty crop food ingredient division of The Redwood Group, enhancing its position in the plant-based pet food market.

Financial Growth: This acquisition is expected to increase Above Food's total pet food business to approximately $110 million, representing 25% of their combined revenues on a proforma basis.

New Testing Innovation: Above Food Ingredients Inc. has developed a quantitative molecular assay in collaboration with BASF Canada to detect Group 11 resistance in anthracnose disease affecting lentil crops, crucial for growers in Saskatchewan where resistance is widespread.

Impact on Agriculture: This innovation allows growers to make informed decisions regarding disease management and fungicide use, ultimately improving crop yields and reinforcing Above Food's position as a leader in disruptive agricultural solutions.

Acquisition Overview: Above Food Ingredients Inc. has acquired The Redwood Group, enhancing its operational capabilities and market presence in the high-growth plant-based pet food and chickpea markets, with a focus on improving utilization rates and expanding margins.

Strategic Benefits: The acquisition adds two processing facilities in Montana, significantly increasing production capacity and positioning Above Food as a leader in the US$26 billion plant-based pet food market and the US$15 billion chickpea market, while also optimizing supply chain efficiency.

Company Participation in Conference: Above Food Ingredients Inc. will participate in the 44th Annual Canaccord Genuity Growth Conference on August 13-14, 2024, where they will discuss their recent acquisition of The Redwood Group's Specialty Crop Foods Ingredients Division.

About Above Food: Above Food is a regenerative ingredient company focused on delivering nutritious and sustainable food products, leveraging advanced agricultural practices and artificial intelligence for seed development.

Acquisition Overview: Above Food Ingredients Inc. has entered into a definitive purchase agreement to acquire the Specialty Crop Food Ingredient Division of The Redwood Group, LLC for US$34 million, enhancing its international presence and capabilities in the human and pet food markets.

Strategic Benefits: This acquisition will expand Above Food's market share in the high-growth pet food sector, optimize margins through value-added processing, and leverage strong supplier relationships while maintaining a commitment to sustainable farming practices.