Business
Above Food Signs LOI to Acquire the Palm Global Group, Unlocking New Frontiers in Agri-Tech, FinTech and Sustainability
Regina, Saskatchewan--(Newsfile Corp. - February 6, 2025) - Above Food Ingredients Inc. (NASDAQ: ABVE) (NASDAQ: ABVE.W), a leader in sustainable, vertically
About this update from Above Food Ingredients Inc.
[{"type":"text","content":"Regina, Saskatchewan--(Newsfile Corp. - February 6, 2025) - Above Food Ingredients Inc. (NASDAQ: ABVE) (NASDAQ: ABVE.W), a leader in sustainable, vertically integrated food systems (\"Above Food\"), has signed a Letter of Intent (LOI) to acquire Palm Global Technologies Ltd. (\"Palm Global\"), www.palmglobal.ai, a next-generation innovator in technology, sustainability, and global food markets. This acquisition positions Above Food to expand its reach into transformative sectors, including advanced Agri-Tech, FinTech and carbon credit securitization.\nThe partnership between Above Food and Palm Global marks a pivotal step forward towards the goal of ensuring global food security, combining Above Food's vertically integrated systems with Palm Global's groundbreaking technologies, strategic alliances, and global reach to create an inclusive, more sustainable future.\nPalm Global aims to address food security, sustainability, financial inclusion and economic development at scale. Its leading-edge technology platforms and frontline super-apps, built on proprietary AI, blockchain, and decentralized finance (\"DeFi\") technologies, drive economic empowerment, education and sustainable growth in underserved global markets by supporting tens of millions of farmers throughout Africa, Southeast Asia and the Americas.\nTo accelerate adoption of its technology by farmers, Palm Global is partnering with governments, global NGOs and world-renowned institutions. Among them are the Peace for Life Foundation, and its agreement with Dicastero par la Cultura e l'Educazione (part of Roman Curia and the Holy See of the Catholic Church) ; IIMSAM (a United Nations-affiliated Intergovernmental Institution targeting malnutrition), Alpha MBM Investment LLC. www.alphambm.com, Promax United Investment LLC. www.promaxunited.com, Pro-Natura International. www.pronatura.org/en/, and other global organizations. These partnerships are invaluable as Palm Global rolls out across large parts of Africa, Latin America (including Mexico and Brazil) and Southeast Asia (including Indonesia).\nPalm Global's platforms and solutions have been developed by an elite technology team, renowned for their contributions to scaling some of the world's largest payments apps; the largest of which has in excess of one billion active monthly users.\nThrough this acquisition, Above Fo...