Toronto, Ontario--(Newsfile Corp. - May 13, 2024) - Agrinam Acquisition Corporation (TSX: AGRI.U) (the "Corporation") announced today that, in connection with the advancement of the previously announced business combination transaction between the Corporation, Freight Farms, Inc. ("Freight Farms") and Agrinam Merger Sub, Inc. (the "Business Combination") and the ongoing PIPE financing related thereto, Freight Farms has entered into a subordinated loan agreement (the "Loan Agreement") with Lexington Capital, S.A.P.I. de C.V. (the "Lender"), an affiliated entity of Agustín Tristán Aldave (Chief Executive Officer and a director of Agrinam), whereby the Lender will loan to Freight Farms up to the sum of $500,000 in accordance with, and subject to the terms and conditions of, the Loan Agreement (the "Loan"). The Loan may be outstanding upon closing of the Business Combination and, as a result, constitutes a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, details of which are set forth in the material change report of the Corporation filed on SEDAR+ on May 13, 2024.