Save Foods (NASDAQ: SVFD), a pioneer in sustainable solutions for agriculture, announced that its board of directors has authorized the company to begin preparing a distribution plan of Save Foods’ holdings in Plantify Foods Inc. (TSX.V: PTFY.CA); the company anticipates the distribution will launch later this year. According to the announcement, Save Foods believes this strategic decision will add value to its stockholders at no additional cost. The company noted that currently, SVFD holds more than 85 million common shares of Plantify Foods, which represents 23.1% of the total number of issued and outstanding common shares of the company. The company noted that the distribution is subject to obtaining any requisite legal opinion and regulatory approvals.
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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., another 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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