Business
Above Food Ingredients Inc. Announces Major Strategic Milestones, Merger Advancement with Palm Global, and Expected Profit Exceeding $30 Million for Fiscal Year Ended January 31, 2026
REGINA, SK, Nov. 28, 2025 /PRNewswire/ - Above Food Ingredients Inc. (NASDAQ: ABVE) ("Above Food" or the "Company") is pleased to provide shareholders with a
About this update from Above Food Ingredients Inc.
[{"type":"text","content":"REGINA, SK, Nov. 28, 2025 /PRNewswire/ - Above Food Ingredients Inc. (NASDAQ: ABVE) (\"Above Food\" or the \"Company\") is pleased to provide shareholders with a significant corporate update highlighting the Company's ongoing audit process, transformative restructuring achievements, and continued advancement of its merger with Palm Global.\n \n \n \n \n \n \n \nAudit Advancing Toward CompletionFollowing the strategic appointment of a new auditor with specialized expertise in digital asset tokenization and stablecoin infrastructure, the Company's audit is progressing toward completion and the targeted filing of its Form 20‑F by December 12, 2025. At this time, the Company has not applied for the additional 180‑day extension available under Nasdaq rules.Restructuring Success: Debt Eliminated, Profitability SecuredIn collaboration with Palm Global, Management has implemented a comprehensive restructuring program over the past year that has:Eliminated all corporate debtPositioned the Company to deliver more than $30 million in profit for the fiscal year ending January 31, 2026Established a solid foundation for sustainable profitability and long‑term growthWhile the fiscal year ended January 31, 2025 will reflect a restructuring‑related loss, the Company is now firmly positioned for transformative success and enhanced shareholder value.Merger Integration AcceleratingThe operating relationship with Palm Global has strengthened considerably. Senior executive teams from both organizations have been working together to:Capitalize on Palm Global's world-leading initiatives and partnershipsBuild operational frameworksAdvance technical integration pathwaysAlign corporate strategiesThis collaboration has been highly productive, underscored by recent strategic meetings of the combined executive team in the UAE. These engagements have energized the Company, reinforced executive level alignment, and accelerated the pace of execution toward the upcoming merger.Looking AheadThe Company expects to release additional announcements in the near future outlining key milestones achieved within this partnership and the next steps in the completion of the merger process. Above Food remains extremely excited about the direction, momentum, and long-term value creation this combined platform is expected to deliver for shareholders.Lionel Kambeitz, Chief Exe...