根據第424條(b)(4)規定提交

註冊 編號333-266722

招股書補充資料

(2022年8月18日招股說明書)

$800,000

農業部隊 成長系統有限公司

普通股

我們已經與兩家機構投資者簽訂了股票購買協議，每股價格爲0.05美元，共計1600萬股，總額爲80萬美元。

我們的普通股票在納斯達克資本市場上交易，簡稱爲納斯達克，在「AGRI」標的下。2024年10月14日報告的我們的普通股票最後報價爲每股0.0618美元。

我們目前受到《S-3表格》I.b.6通用指示的約束，該指示限制了我們根據註冊聲明中的擬議書補充和隨附擬議書的部分可出售證券的金額。根據《S-3表格》I.b.6通用指示，非關聯方持有的我司普通股的總市值（按公開浮動股票計算）爲621萬2328美元，這是根據本擬議書補充書日期，非關聯方持有的我司普通股爲100,523,118股，每股價格爲0.0618美元計算得出，這也是我們普通股在納斯達克於2024年10月14日的最後報告銷售價。根據《S-3表格》I.b.6通用指示規定，我們在任何12個月期間不會根據本擬議書補充出售價值超過非關聯方持有的我司普通股總市值的三分之一的股份。我們在過去12個日曆月期間未根據《S-3表格》I.b.6通用指示提供任何證券。

投資我們的證券涉及重大風險。請閱讀本招股說明書補充頁中或插入的有關信息，以及本招股說明書補充頁之後以及被納入本招股說明書補充頁和附帶說明書中的其他文件中的類似標題。風險因素請閱讀本招股說明書補充頁第S-12頁及本招股說明書補充頁之後以及被納入本招股說明書補充頁和附帶說明書中的其他文件中的類似標題。

無論是證券交易委員會還是任何州證券委員會都未經批准或否認這些證券，也未確定本招股協議書是否準確無誤。任何與此相反的陳述屬於犯罪行爲。

本招股說明書補充的日期爲2024年10月15日。

目錄

招股書補充資料

關於本招股說明書補充

這份文件是我們向證券交易委員會(美國證監會SEC)申報的登記聲明的一部分，採用了「貨架」登記流程，由兩部分組成。第一部分是本招股說明書附錄，描述了本次發行的具體條款。第二部分是附隨的招股說明書，提供更多一般性信息，其中一些可能不適用於本次發行。通常情況下，我們提到「招股說明書」時，指的是兩部分的結合體。本招股說明書可能會在附隨的招股說明書中增補、更新或變更信息，或是在本招股說明書或附隨的招股說明書中所引用的文件中增補、更新或變更信息。通過使用貨架登記聲明，我們可能會以每股0.05美元的價格在本招股說明書下提供高達80萬美元的普通股。

如果本招股說明書補充內容與隨附的招股說明書或在本招股說明書補充發布日期前已在SEC備案的任何文件不一致，您應依賴於本招股說明書補充。本招股說明書補充、隨附的招股說明書及每份文件通過參考合併進來的文件均包括關於我們、所提供證券和其他投資前您應了解的重要信息。在投資我們的證券之前，您還應閱讀並考慮本招股說明書各部分所提及的我們已指引您查閱的文件中的信息，這些部分名爲「您可以找到更多信息」的地方和「參考文件」。

您應該僅依賴本招股說明書補充資料、附屬招股說明書、夾帶在此或其中並被視爲已經併入參考資料的文件以及我們或代表我們準備的任何自由撰寫招股說明書。我們未授權任何人向您提供與本招股說明書補充資料和附屬招股說明書中包含或被併入參考的信息不同或增加的信息。如果有人提供給您不同或矛盾的信息，您不應該依賴其。我們並非在任何禁止提供或銷售的司法轄區提供出售這些證券的要約。您不應該假設本招股說明書補充資料、附屬招股說明書或任何自由撰寫招股說明書中包含的信息或被納入參考的信息在除本招股說明書補充資料或附屬招股說明書發佈日期以外的任何日期均準確，或無論傳遞本招股說明書補充資料和附屬招股說明書或我們證券銷售的時間爲何，也無論夾帶的文件的日期爲何，我們的業務、財務狀況、流動性、經營業績和前景自那些日期以來可能已有改變。

我們另外注意到，在任何文件的協議中，該文件作爲引用文件被併入本招股書補充文件或相應招股書所引用的文件中，由我們所做出的陳述、保證和承諾僅受益於該文件的各方，包括在一些情況下，爲了在該文件各方之間分配風險的目的，不應被視爲向您提供的陳述、保證或承諾。而且，此類陳述、保證或承諾僅在所做陳述時準確。因此，不應將此類陳述、保證或承諾視爲準確表達我們目前的事務狀況。

除非在本招股說明書補充中另有說明或上下文另有要求，否則所有對「我們」、「我們的」、「公司」以及「AgriFORCE」 的引用均指AgriFORCE Growing Systems, Ltd. 及其子公司。

在美國境外的任何司法管轄區，均沒有采取任何行動允許公開發行證券或者持有或者分發此補充招股說明書或附帶招股說明書。在美國境外的司法管轄區取得此補充招股說明書或附帶招股說明書的人員，必須自行了解並遵守與此招股的約束和此補充招股說明書或附帶招股說明書的分發有關的任何限制規定適用於該司法管轄區。

招股說明書補充文件摘要

本摘要突出了在本招股說明書補充中其他地方包含或參照的信息。該摘要並不包含您在決定投資於我們普通股之前應考慮的所有信息。您應仔細閱讀本招股說明書補充和隨附的基本招股書，包括本招股說明書中包含的「風險因素」部分，隨附的基本招股書以及截至2023年12月31日的年度報告表格10-K中的「風險因素」部分，以及SEC後續提交的修改或更新內容，以及我們的合併財務報表和相關附註，以及本招股說明書補充和隨附的基本招股書中參照的其他文件。

概述

AgriFORCE™成立於2017年12月22日，是一家根據《商業法人法》（哥倫比亞省）頒發的公司章程成立的私營公司。公司的註冊和記錄辦事處地址位於加拿大卑詩省溫哥華市西8街525號800室。^th加拿大卑詩省溫哥華市西8街525號800室，郵編爲V5Z 1C6。

我們的業務

AgriFORCE™ 是一家農業科技公司，主要專注於開發和利用我們的知識產權資產進行改進，致力於農業行業。我們認爲，通過利用我們的專有知識產權爲農業行業提供解決方案，並尋求開發新的知識產權，最好實現這一目標，以增強我們已經擁有的技術，並開發可以擴大我們在農業科技領域的影響力的新技術，同時擴展至其他具有esg影響的領域。

我們的AgriFORCE™ Brands部門致力於開發和商業化植物基食材和產品，以提供更營養的食品。我們將市場化和商業化原料供應，例如我們的Awakened Flour™和Awakened Grains™。

AgriFORCE™解決方案部致力於通過我們的控制環境農業（CEA）設備來改變現代農業，包括我們的FORCEGH+™解決方案。我們正在繼續調整我們的業務計劃，以適應人工智能etf和blockchain在金融科技系統開發和實施中對商業農戶的推動，並推進我們的氫氧清潔室系統的商業化，大大減少全球加工設施中病原體、黴菌和疾病傳播。

AgriFORCE™品牌

UN(THINK)™ 食品

公司於2021年9月10日從位於愛達荷州博伊西市的私人控股公司Manna Nutritional Group, LLC（"Manna"）購買了知識產權（"IP"）。此知識產權涵蓋了一項授予專利，用於自然加工和轉換穀物、豆類和根莖蔬菜，生產低澱粉、低糖、高蛋白、富含纖維的烘焙麪粉，並生產天然甘甜劑果汁。該核心流程涵蓋了美國和主要國際市場的專利編號11,540,538。這種全天然流程旨在釋放穀物、豆類和根莖蔬菜中的營養特性、風味和其他品質，以創造專業的全天然烘焙和多用途麪粉、甜味劑、果汁、天然甜味穀物和其他高價值產品，爲膳食營養、性能和烹飪應用提供了許多機會。

在2023年12月31日結束的一年中，公司在商業化我們的UN(THINK) Awakened Flour™麪粉方面取得了里程碑，這是公司首個利用知識產權的產品系列。管理層已經定義並測試了生產的質量控制和安全協議，並與加拿大的合作伙伴生產了幾批發芽穀物、精煉和擴大生產工藝。我們還正在資格審核美國的合作伙伴，建立額外的生產中心，將支持地區內客戶的增長，並降低物流成本。此外，我們已經和一家合同船運公司以及加拿大和美國的兩家倉庫建立了供應鏈物流。我們的商業團隊在定義定價方面取得進展，開始接觸美國和加拿大的麪包店和烘焙食品公司，他們正在測試我們的新麪粉，以整合到他們的製造業務和創新流程中。在線銷售物流和廣告材料在期間內得到了發展，以支持建立直銷渠道，該渠道將在業務渠道銷售增加後啓動。最後，公司爲Awakened Flour™產品線的應用開發了大量食譜，面向客戶和消費者。

公司正在開發幾種成品原型，包括一系列的煎餅粉，已經可以進行消費者測試。

小麥和麪粉市場

現代飲食被認爲是導致健康風險（如心臟病、癌症、糖尿病和肥胖症）的因素之一，部分原因是由於消耗高度加工的食品，這些食品低於自然纖維、蛋白質和營養成分。 簡單的澱粉、糖和卡路里含量極高。這些「空卡路里」會產生血糖波動，可能通過觸發對高糖、高鹽和高澱粉的食物的渴望而導致過度進食。例如，傳統烘焙麪粉低於自然纖維（～2-3%），低至中等蛋白質（～9%）且澱粉含量非常高（～75%）。⁽¹⁾除了膳食纖維外，全麥麪粉在這些宏量營養素方面只是稍微好一點點。 ⁽²⁾.

相比之下，富含纖維素的食品有助於消除飢餓感、抑制渴望和提高新陳代謝。⁽³⁾他們還有助於減肥，降低膽固醇，可能降低患癌症、心臟病和糖尿病的風險。⁽⁴⁾.

UN(THINK)™食品知識產權的優勢

我們的受控酶反應和管理的自然發芽（「CERES-MNG」）專利工藝，允許開發和製造所有天然麪粉，這些麪粉在纖維、營養和蛋白質含量上明顯更高，而在碳水化合物和熱量上明顯更低，比標準烘焙麪粉。

由軟白小麥製成的CERES-MNG烘焙麪粉，比普通多用途麪粉具有40倍的纖維，蛋白質是普通多用途麪粉的三倍，淨碳水化合物比普通多用途麪粉低75%。⁽⁵⁾.

資料來源：2022年2月Eurofins Food Chemistry Testing Madison, Inc的獨立分析。

CERES-MNG專利將有助於開發來自現代、古代和傳統穀物、種子、豆類以及塊莖/根菜的新麪粉和產品。

AgriFORCE™擬開發和商業化的CERES-MNG專利工藝下的UN(THINK)™食品品牌產品：

(1) 根據全國認證的獨立實驗室所得的蛋白質、纖維和澱粉含量結果，與標準多用途麪粉進行對比。

(2) https://www.soupersage.com/compare-nutrition/flour-vs-whole-wheat-flour

(3) https://my.clevelandclinic.org/health/articles/14400-improving-your-health-with-fiber

(4) https://www.health.harvard.edu/blog/高纖維飲食，改善健康降低膽固醇-2019062416819

(5) 根據全國認證的獨立實驗室的蛋白質、纖維和澱粉含量測試結果，與標準多用途自發粉相比。

我們打算通過兩個主要銷售渠道將這些產品商品化：

從UN(THINK)™食品知識產權中成功實現高端專業產品商業化，並在該品類中佔有一小部分市場份額，這對AgriFORCE™來說是一個顯著的商業機會。

來源： 未來市場洞察報告，2022年6月（2篇），2022年10月（1篇），2023年1月（3篇）和2022年10月（4篇）

爲了生產UN(THINK)™力量小麥粉，我們使用了我們的專利工藝開發了一種新的發芽全麥小麥粉，在2023年11月在加拿大和美國銷售，以UN(THINK)™啓迪之粉™品牌提供銷售。這種新的覺醒穀物™粉，有3種類型：硬質白小麥和硬質紅小麥用於製作麪包，軟質白小麥用於糕點和麪點，提供了更加豐富的營養，纖維素含量是傳統多用途麪粉的5倍，蛋白質含量是傳統多用途麪粉的2倍，淨碳水化合物含量降低了23％（資料來源：Eurofins Food Chemistry Madison, Inc，2022年12月）。

成長 計劃

AgriFORCE™的有機增長計劃是在四個不同階段積極建立和推出產品的商業化。

第一階段（完成）:

第二階段:

第三階段:

第四階段：

AgriFORCE解決方案

理解 我們的方法 - 將最先進的科技引入，以提升和現代化農業

傳統農業包括室外、溫室和室內三種基本方法。我們採用人工智能（「AI」）和基於blockchain的先進技術，將傳統的低技術行業引入21世紀。^c）這種方法意味着我們能夠進入過去農業企業不容易進入的領域，例如先進的金融科技來增強這些企業的融資能力，並更容易爲農民提供先進的智能技術。這些技術也可以應用於全球採購和將食品生產商與消費者有效地匹配。

我們的知識產權結合了擁有專利的獨特設計的設施和自動種植系統，解決了控制環境農業系統中幾乎所有存在的兩大問題：過多的水損耗和高能耗。FORCEGH+ 提供了擁有專利的清潔、密封、自包含的微環境，最大限度地利用自然陽光並提供補充的 LED 燈光。它限制了人爲干預，通過人工智能光學技術設計，旨在提供卓越的質量控制。它還旨在大幅降低環境影響，大幅減少能源需求，節約水資源，同時爲客戶提供日常收成和更高的作物產量。

農業技術領域嚴重受到資本市場的疏於服務，而我們看到了一個機會，可以收購爲該行業提供解決方案並引領創新的全球公司。我們與潛在目標的強健互動已經確認了我們的信念和渴望成爲一個更大的集成化農業技術解決方案提供商的一部分，業務的每個單獨要素都有其現有的傳統業務，並且可以跨領域專業知識利用以擴大業務範圍。

公司打算繼續開發並授權其科技給現有的植物藥品、營養保健品和高價值作物市場中的農民，利用其獨特的專利工廠設計和基於水培的自動化種植系統，使農民能夠在密閉的控制環境中有效種植作物（「FORCEGH+™」）。公司已經設計了FORCEGH+™設施，能夠在幾乎任何環境條件下產出作物，並將作物產量最大化，儘可能接近其基因潛力的完全發揮，同時大幅減少對殺蟲劑、殺菌劑和/或輻射的使用需求。公司繼續發展其水果和蔬菜解決方案，重點在於將其當前結構與一種新形式的垂直種植科技整合。

業務計劃

公司將推出完整系列的Hydroxyl設備，並開始將Hydroxyl設備商業化至CEA和食品製造的美國市場。公司將爲EMEA地域板塊確定並建立獨家分銷協議，同時擴展到拉丁美洲和亞洲。公司還將推進我們的Hydroxyl潔淨室系統的商業化，大大減少全球加工設施中病原體、黴菌和疾病的傳播。

公司正在探索利用其專利的FORCEGH+™結構及相關技術進行合資企業和許可的機會。公司還在研究FORCEGH+技術在北極、熱帶和沙漠環境中的應用。公司打算繼續開發並授權其技術給植物類藥品、保健品和高價值農作物市場的現有農民，利用其獨特的專利設施設計和基於水耕的自動化種植系統，使農民能夠在密閉的受控環境中有效種植作物（「FORCEGH+™」）。

公司還計劃將其努力擴展到區塊鏈解決方案的開發，並將這些解決方案應用到金融科技系統中，以便在商業農民之間實現更快速、更低成本的交易。

公司正在探索利用其擁有專利的FORCEGH+™結構以及相關技術進行合資和許可的機會。公司還在研究在北極、熱帶和沙漠環境以及人工智能和區塊鏈技術中利用FORCEGH+技術，以開發和實施金融科技系統，服務於商業農民，並致力於商業化我們的Hydroxyl潔淨室系統，以極大地減少全球加工設施中病原體、黴菌和疾病的傳播。

AgriFORCE清潔解決方案

公司的解決方案部門負責商業化我們的FORCEGH+技術和我們的RCS淨化室系統。公司也開始推動將區塊鏈技術整合到爲商業農戶開發和實施金融科技系統的計劃中。

我們已經獲得Radical Clean Solutions, Inc.（「RCS」）的專有羥基產生設備的全球商業許可，適用於CEA和食品製造業板塊。RCS技術是一個產品系列，包括專利待申請的「智能羥基生成系統」，專注於多個行業板塊，已被證實可以消滅99.99%以上的所有主要病原體、病毒、黴菌、揮發性有機化合物（VOCs）和過敏原。⁽⁶⁾.

於2023年10月1日，公司簽署了一份最終協議，購買了RCS14%的股權。

公司於2023年底首次從RCS設備銷售中獲得營業收入。2023年期間，公司與墨西哥領先的空調和供暖解決方案經銷商簽訂了獨家分銷協議，代表並銷售AgriFORCE/RCS溫室和食品製造設施的羥基生成設備，用於墨西哥領土。首批產品於2023年10月根據產品的購買訂單交付。

公司將繼續通過其經銷商Commercializadora DESICO擴大在墨西哥的銷售。基於在墨西哥家禽行業的銷售，該公司正在將其清潔系統解決方案的分銷擴展到其他拉丁美洲市場和美國。

業務計劃

2024

2025

兼併和收購（「M&A」）

公司計劃在推進其已擁有的知識產權和改進計劃的同時，評估適當規模的有益的併購機會。任何併購提議都必須與公司正在進行的業務相適應，以便合理配置資源。

公司打算將任何併購活動集中在農業技術領域，重點關注那些可以同時增加我們的esg影響力的企業。這一重新聚焦的併購策略將確保公司將適當的人員和經濟資源分配給正在進行的業務，同時重新聚焦於協同機會，從而增強公司現有資產。

(6) 2022年2月，BCI實驗室，佛羅里達蓋恩斯維爾市；以及各種機構研究。

近期發展

管理 重組

2024年1月25日，AgriFORCE Solutions總裁Troy McClellan向公司遞交了一封辭職信。2024年1月25日，公司接受了他的辭職，並根據他與公司的僱傭協議第7.3條款，認定該辭職立即生效，該條款允許公司免除McClellan先生的通知期（到2024年3月31日）並加速辭職日期的到來。

2024年2月10日，Richard Wong恢復擔任致富金融(臨時代碼)官員，以便專注於公司的財務和會計事務。自同一天起，Jolie Kahn被任命爲執行型轉型顧問，以支持公司的運營增長和擴張工作。2024年6月4日，董事會任命Jolie Kahn爲首席執行官。Jolie Kahn需向該公司董事會主席David Welch彙報，後者將擔任執行主席，直到任命永久首席執行官爲止。

2024年2月19日，瑪格麗特·霍尼辭去董事職務（「公司」）以追求其他興趣。辭職並非因與公司發生任何分歧。

2024年6月4日，公司董事會任命Jolie Kahn爲首席執行官。此前，2024年2月10日，Jolie Kahn被任命爲執行翻身顧問，以支持公司的運營增長和擴張努力。Jolie Kahn將繼續支持這些努力並向公司董事會主席David Welch彙報，David Welch將擔任執行主席。

分享 回購計劃

2024年6月17日，公司董事會授權了一項股票回購計劃（「回購計劃」），根據該計劃，公司可以回購其最多100萬美元的流通普通股，在六個月的期限內，視合同要求而定。董事會將定期審查公司的回購計劃，並可能決定延長其期限或增加授權金額。

RCS 收購

2024年8月19日，AgriForce Growing Systems, Inc.（以下簡稱「公司」）簽署了一項資產購買協議（以下簡稱「協議」），以購買Radical Clean Solutions Limited（以下簡稱「賣方」）的資產（以下簡稱「資產」）。公司之前已經爲農產品行業的RCS專利技術獲得了許可。資產的購買價格包括現金、股票以及償還以下負債：（一）20萬美元（此前作爲貸款支付給賣方，並在2024年8月20日的交割日（以下簡稱「交割日」）被視爲已償還）；（二）價值市價的500萬公司限制性普通股；以及（三）承擔賣方發行的總額爲13.5萬美元的票據本金和相當於5.7萬美元的賣方經營負債的負債。公司已同意每月資助RCS業務運營高達10萬美元。協議包括關於陳述與擔保、終止事件等習慣商業條款。

同時與資產購買相關的是，公司與賣方的首席執行官Roger Slotkin達成了爲期兩年的諮詢協議。根據諮詢協議，Slotkin先生每月將獲得1.5萬美元的費用。在特定事件發生時，他還有權獲得現金和/或受限制的股票作爲進一步的支付：在RCS單位的某些銷售額上支付佣金，並在完成某些里程碑時，Slotkin先生將獲得2.5萬股受限制的普通股。

所有板塊 在本條款1.01中描述的股票發行形式均爲根據1933年證券法第4(a)(2)條修訂版進行的定向增發交易。

作爲新興增長型公司的身份

2012年4月5日，2012年「初創企業發展法案」（簡稱JOBS Act）獲得通過。JOBS法案的第107條規定，有「新興成長型企業」可以利用1933年修訂版證券法第7(a)(2)(B)條提供的長期過渡期，以符合新的或修訂版的會計準則。換句話說，「新興成長型企業」可以推遲採用某些會計準則，直到這些準則本應適用於私人公司爲止。我們已經無法撤銷地選擇利用了這個延長的過渡期，並因此，在適用於私人公司的相關日期上，將採用新的或修訂版的會計準則。

我們正在評估依賴其他法規豁免和減少報告要求的好處。根據《初創企業法案》中設定的某些條件，作爲「新興成長型公司」，我們打算依賴其中的某些豁免，包括但不限於：(i) 根據薩班斯-奧克斯利法案第404(b)條規定對我們的內部控制系統進行審計報告的要求，以及 (ii) 遵守美國證券交易委員會監察局（PCAOB）就強制性核數師輪換或對審計報告提供有關審計和財務報表的額外信息的任何要求。我們將繼續作爲「新興成長型公司」直到以下情況中最早出現的日期：(a) 首次公開募股結束後的財政年度最後一天， (b) 我們的年度總收入超過10.7億美元的第一個財政年度最後一天， (c) 我們被視爲《證券交易法》第120億.2條規定的「大幅加速文件提交者」（如果非附屬方持有的我們的權益證券的市值在我們最近完成的第二財季最後一個營業日超過7億美元），或者 (d) 我們在前三年發行的不可轉換債務超過10億美元的日期。

我們也是根據1934年修訂的《交易法》120億.2條的定義，作爲「較小的報告公司」，截至2024年6月28日，我們的公衆流通股約爲730萬美元，選擇遵循適用於較小的報告公司的某些縮減披露要求。

發行

此次發行後，我們普通股的流通股數基於截至2024年10月14日爲止的1,013,433,337股普通股，不包括以下股份：

關於前瞻性聲明的注意事項

本增補說明書和引用的文件中包含前瞻性陳述。此類陳述包括關於我們對未來的期望、希望、信念或意圖的陳述，包括但不限於關於我們的市場、策略、競爭、發展計劃（包括收購和擴張）、融資、收入、運營和遵守適用法律的陳述。前瞻性陳述涉及一定風險和不確定性，並且實際結果可能與任何此類陳述中討論的結果有所不同。導致實際結果與此類前瞻性陳述有所不同的因素將在以下段落和公司於2024年4月1日向SEC提交的2023年12月31日止的年度報告10k中更詳細地描述的風險中闡述。本文檔中的所有前瞻性陳述均於此日期以基於我們所掌握信息的此日期製作，並且我們不承擔任何前瞻性陳述的更新義務。本增補說明書中使用的市場數據是基於公開的第三方報告或管理層真誠估計的良好估計，這些估計基於他們對內部調研、獨立行業出版物和其他公開信息的審查。

您應該仔細審查本招股說明書補充中的「風險因素」部分，以了解與我們的業務以及投資我們的普通股相關的這些和其他風險。

所有板塊 所有展望性陳述僅適用於本招股說明書補充的日期。除非法律要求，我們不承擔更新或修訂這些陳述的責任，您不應該過分依賴這些展望性陳述。儘管我們相信本招股說明書補充中所做的展望性陳述所反映出的計劃、意圖和預期是合理的，但我們無法保證這些計劃、意圖或預期將會實現。我們在本招股說明書補充的其他地方以及「風險因素」下披露了可能導致實際結果與我們的預期有實質性差異的重要因素。這些警示性聲明適用於我們或代表我們行事的所有展望性陳述。

風險因素。

投資我們的普通股存在風險。在決定是否投資我們的普通股之前，您應仔細考慮下面討論的風險因素以及包含在我們2023年12月31日止的年度報告（於2024年4月1日提交給證監會）中的「風險因素」部分，該報告在此全文參考，並且以後在我們提交給證監會的文件中反映的風險因素的任何修訂或更新。如果我們SEC申報文件中描述的任何風險或不確定因素實際發生，我們的業務、財務狀況、經營結果或現金流可能會受到重大不利影響。這可能導致我們的普通股交易價格下跌，從而導致您的投資損失部分或全部。我們所描述的風險和不確定性並不是面臨我們公司的唯一問題。我們當前尚不知道或我們目前認爲不重要的其他風險和不確定性也可能影響我們的業務運營。

風險 與本次發行相關

我們在本次發行的淨收益使用方面擁有廣泛的自主決策權，並可能不能有效地使用它們。

我們打算將本次發行的淨收益用於一般企業用途。我們的管理層對本次發行的淨收益的運用將擁有廣泛的自由裁量權，可以將這些資金用於不能改善我們的運營業績或提升我們的普通股價值的方式。管理層未能有效運用這些資金可能導致財務損失，對我們的業務產生重大不利影響，或導致我們的普通股價格下跌。

您將面臨即時和重大的攤薄。

本次發行的每股發行價格可能超過本次發行前我們普通股的每股淨有形資產價值。假設以每股$0.05的價格出售16,000,000股我們的普通股，以籌集總金額爲$800,000，扣除我們需支付的佣金和預計發行費用後，您將立即承受每股$0.049的稀釋，即我們經調整後的每股淨有形資產價值爲$0.001（考慮到本次發行效果後的），與所假設發行價格之間的差額。未行使的股票期權和認股權證，或將未行使的優先股轉換爲普通股，將進一步稀釋您的投資。如果您參與本次發行，請參閱下文標題爲「稀釋」的部分，詳細說明您可能面臨的稀釋情況。

由於未來股票發行可能會導致未來蒸發，您可能會面臨風險。

爲了籌集額外的資金，我們將來可能以不同於本次發行價格的價格，發行更多的普通股或其他可轉換或交換成我們的普通股的證券。我們可能在其他發行中以每股價格低於本次發行投資者支付的價格出售股份或其他證券，並且未來購買股份或其他證券的投資者可能擁有優於現有股東的權利。我們發行更多普通股或可轉換或交換成普通股的證券的價格可能高於或低於本次發行投資者支付的價格。

使用收益

我們在此發行普通股，總銷售收入爲$800,000。

我們 打算將所有收益用於一般公司用途。

每個機構投資者（「購買方」）將以每股0.05美元的價格購買40萬美元或800萬普通股，簽訂證券購買協議。根據這些協議，購買方在2022年6月30日與公司之間簽訂的某項證券購買協議第4.12節中持有的參與權利現在延長至2025年12月31日。如果公司根據任何現價發行或股權信貸（無論如何命名）出售其普通股，公司應當使用任何此類銷售的淨收益的25%來償還任何未償債券上的本金（如2022年6月30日證券購買協議中定義的），並根據該債券的條款執行。

分紅派息政策

我們從未宣佈或支付普通股的任何現金分紅派息。我們目前打算保留任何未來收益，不預計在可預見的將來宣佈或支付任何現金分紅派息。未來決定支付股息將由我們的董事會自行決定，受適用法律的約束，將取決於我們的財務狀況、經營業績、資本需求、一般業務狀況和其他董事會認爲相關的因素。

稀釋

如果您投資我們的普通股，您的利益將會因您在本次發行中支付的每股價格與本次發行後我們普通股的每股淨資產淨值之間的差額而被稀釋。截至2024年6月30日，我們的普通股的淨資產淨值赤字約爲70萬美元，或每股普通股約爲0.01美元，基於8,433,892股的流通股。每股淨資產淨值等於我們的總有形資產減去我們的總負債，除以流通股總數。

在以每股0.05美元的發行價格分別銷售我們普通股總額爲80萬美元后，根據各方協商的價格以及截至2024年6月30日我們的淨有形賬面價值將會是10萬美元，即每股普通股爲0.001美元。這代表着我們現有股東淨有形賬面價值每股將會立即增加0.001美元，而對於本次發行的新投資者則會立即造成每股淨有形賬面價值降低0.049美元。

下表說明了每股基礎上的此計算：

上述表格未考慮到未行使的期權或權證的行使，以及債務轉換爲普通股。如果期權和權證被行使，或者優先股轉換爲普通股，可能會對新投資者產生進一步稀釋。

上表假定，用於說明目的，我們的普通股合計銷售了16,000,000股，每股售價爲$0.05，合計募集總收益爲$800,000。

分銷計劃

1600萬股股份正在由公司直接以註冊直接發行方式發行給兩家機構投資者。

法律事項。

本常股票的有效性將根據《8-k表格當前報告》的說明得到確認，該表格將與此同時於2024年10月16日或之前提交。

可獲取更多信息的地方

本招股說明書中引用的基本報表已由獨立註冊會計師事務所Marcum, LLP審核，其審計報告已在此引用，並依賴該報告及該公司作爲會計和審計專家的權威，已納入本招股說明書。

更多信息的獲取途徑。

我們通過10-K表格年度報告，10-Q表格季度報告和8-K表格現報告向SEC提交報告。您可以在SEC的公共參考室100 F Street，N.E.，華盛頓特區20549，在工作日的上午10:00到下午3:00閱讀和複印這些報告及其修正案。如需公共參考室的相關信息，請致電SEC 1-800-SEC-0330。此外，SEC還維護一個包含發行人（包括我們）通過電子方式向SEC提交的年度，季度和現報告，委託人聲明和其他信息的網站。SEC的網址是http://www.sec.gov。您還可以從我們的互聯網網站www.agriforcegs.com獲取我們向SEC提交的材料的副本。我們的股票在納斯達克資本市場以「AGRI」爲代碼交易。

本招股說明書僅爲我們根據《證券法》向SEC提出的S-3表格註冊聲明文件的一部分，因此省略了註冊聲明文件中包含的某些信息。我們還提交了與註冊聲明文件有關的附件和附表，這些附件和附表被排除在本招股說明書之外，您應參閱適用的附件或附表以獲取有關涉及任何合同或其他文件的完整描述。您可以在公共參考室免費查閱註冊聲明文件，包括附件和附表，或在支付SEC規定的費用後從SEC獲取一份拷貝。

本說明書是向SEC提交的註冊聲明的一部分。 SEC允許我們「以引用爲基礎」將我們向他們提交的信息併入本說明書，這意味着我們可以通過引用這些文件向您披露重要信息。所引用的信息被認爲是本說明書的一部分，我們向SEC稍後提交的信息將自動更新並取代此信息。以下文件已經通過引用併入本說明書：

我們還引入了證券交易所根據《證券交易所法》第13條（a）、第13條（c）、第14條或第15條（d）的規定，在首次註冊聲明的日期之後但註冊聲明生效之前以及本招股書補充的日期之後但證券發行終止之前，提交給證券交易所的所有附加文件都視爲引入。然而，我們在每種情況下，不會引入根據證券交易所規則視爲提供而不是提交的任何文件或信息。

您可以請求我們提供這些備案的副本，撥打（604）757-0952聯繫我們或寫信給我們，無需付費，發送到以下地址：

AGRIFORCE GROWING SYSTEMS有限公司

普通股

優先股

權證

單位

我們可能不時在一次或多次發行中以我們在每次發行時確定的價格和條款出售普通股、優先股、認股權證、單位或這些證券的組合，初始總髮行價值最高爲1.5億美元。本說明書爲您提供了我們可能提供的證券的概述，不意味着對每種證券的完整描述。每次我們提供並出售證券時，我們將向您提供招股說明書，其中將包含有關該發行的具體信息。任何招股說明書還可能添加、更新或更改本招股書中包含的信息。在購買任何所提供的證券之前，您應仔細閱讀本招股書和適用的招股說明書，以及包含在本招股書和適用的招股說明書中的或被視爲併入本招股書和適用的招股說明書的文件。

在未附加招股書增補的情況下，我們的本招股書不得用於提供或銷售證券。

我們的普通股目前在納斯達克交易所上市，交易代號爲AGRI，我們的A系認股權證目前在納斯達克資本市場上交易，交易代號爲AGRIW。2022年8月8日，我們的普通股最後報告的銷售價格爲每股1.78美元。我們將申請在納斯達克資本市場上列出我們在本招股書和適用的招股說明書下出售的任何普通股。招股說明書將包含有關任何其他證券市場或交易所的證券的信息（如果適用）。

我們可能直接或通過代理、承銷商或經銷商提供證券。如果任何代理人或承銷商參與證券的銷售，則它們之間的名稱和任何適用的購買價格、費用、佣金或折扣安排將在伴隨的招股說明書中說明或可計算。我們只能通過代理人、承銷商或經銷商出售證券，並提供描述該證券銷售方法和條款的招股說明書。請參見本招股書的「分配計劃」部分，以獲取更多信息。

本招股書獲得的證券涉及高度風險。請參見本招股書的「風險因素」部分。我們還可能在適用的招股說明書中在標題「風險因素」下包括具體的風險因素。在投資我們的證券之前，請仔細閱讀這些風險因素。

證券交易委員會或任何州證券委員會均未批准或不批准這些證券或確定本招股說明書是否真實或完整。任何相反聲明都是犯罪行爲。

本招股書的日期爲2022年8月9日。

目錄

關於本招股說明書

本招股書是我們使用的「貨架」註冊程序的一部分，該程序已向美國證券交易委員會（SEC）提交。在此貨架註冊聲明中，我們可以從時間到時間地通過一項或多項發行，在總額爲1.5億美元的限制下一次或多次出售證券，在市場份額達到7500萬美元之前，根據表格S-3 I.B.6的規定。作爲SEC規則所允許的，本招股書不包含註冊聲明中包括的所有信息，包括其展品。有關更多信息，我們請您參考註冊聲明及其附件，被引入或視爲被引入本招股書及適用的招股說明書，以及我們或我們提供的任何附帶的招股說明書或提到的任何自由書面說明所作的引用。本招股書和任何附帶的招股說明書或適用的自由書面說明中包含的關於任何協議或其他文件的規定或內容的聲明並非必然完整。如果SEC的規則和條例要求其作爲展品提交協議或文件，請參閱該協議或文件以獲取完整描述這些事項的內容。

您應依賴於在本招股書、任何隨附的招股說明書或我們或我們所指的適用的自由書面說明中引入的或提供的信息。我們未授權任何人提供其他信息。如果任何人提供不同或不一致的信息，則您不應依賴該信息。我們不在任何不允許銷售的司法轄區內出售這些證券。

除非伴隨招股說明書，否則本招股書不可用於完成證券銷售。

我們、任何代理人、承銷商或經銷商均未授權任何人提供除本招股書、任何適用的招股說明書或我們或我們代表或我們所提及的任何相關自由書面說明中包含或引入的信息或說明之外的信息或說明。本招股書、任何適用的招股說明書或任何相關的自由書面說明不構成除其相關的註冊證券之外的任何證券的要約或對任何人在任何司法轄區內購買此類證券的徵集意向。

在適用文件的前面所規定的日期之後，您不應認爲包含在本招股書、任何適用的招股說明書或任何相關的自由書面說明中的信息是準確的。您也不應認爲我們引入的參考信息在提交的文件的日期之後是正確的，即使本招股書、任何適用的招股說明書或任何相關的自由書面說明是在以後的日期交付的或出售的。

本招股說明書及其所引用的資料概述了某些其他文件的條款，但完整信息應參閱實際文件。所有概述內容均受到實際文件的資格限制。本招股說明書引用的部分文件副本已經提交，將會提交或將會作爲展覽品併入本招股說明書所屬的註冊聲明中，您可以按照下文「如何獲取更多信息」一節的描述獲得這些文件的副本。

您只應該依賴於此招股說明書，任何招股說明書補充或任何相關自由書面招股的已包含或參照的信息。我們沒有授權任何人以與此招股說明書、適用的招股說明書補充或任何相關自由書面招股所包含或參照的信息不同的信息向您提供信息。如果任何人向您提供與此招股說明書、適用的招股說明書補充或任何相關自由書面招股所包含或參照的信息不同的信息，則您不應該依賴它。沒有任何經銷商、銷售人員或其他人被授權提供任何信息或代表未包含在此招股說明書、適用的招股說明書補充或任何相關自由書面招股中的任何內容。您應該假定此招股說明書、任何招股說明書補充或任何相關自由書面招股中包含的信息僅準確到文件前面的日期，並且我們在其中包含的任何文件中引用的任何信息僅在其面前的日期準確，而不考慮此招股說明書、任何招股說明書補充、任何相關自由書面招股的交貨時間或根據本登記聲明出售證券的時間。這些文件不是在任何情況下出售或購買這些證券的要約或招攬。

概要

此摘要突出了招股說明書中所選信息，並未包含您在做出投資決策時應考慮的所有信息。您應該仔細閱讀整個招股說明書、適用的招股說明書補充和任何相關的自由書面招股，包括適用的招股說明書補充和任何相關自由書面招股中討論的投資我們證券可能面臨的風險，並在被納入此招股說明書的文件中的類似標題中，仔細閱讀被引用到這個招股說明書中的信息。您還應該仔細閱讀這份招股說明書中納入引用的信息，包括我們的財務報表和註冊聲明書的展示。

在本招股說明書中，術語「AgriForce」、「公司」、「我們」、「我們的」或「我們」是指AgriForce Growing Systems，Ltd及其全資子公司，除非上下文另有說明。

我們的業務

概述

AgriFORCE Growing Systems Ltd.根據《商業法》(不列顛哥倫比亞)的公司章程於2017年12月22日註冊成立爲一傢俬人公司。該公司的註冊和記錄辦公地址位於 300-2233 Columbia Street, Vancouver, BC, Canada, V5Y 0M6。2018年2月13日，公司將其名稱從1146470b.C.有限公司更名爲Canivate Growing Systems Ltd。2019年11月22日，公司將其名稱從Canivate Growing Systems Ltd.更名爲AgriFORCE Growing Systems Ltd。

在AgriFORCE，我們的目標很清晰：每天在全球範圍內爲農場、食品和家庭帶來積極的變化。通過多年的深入研究和開發經驗，我們是先鋒，隨時準備提供集成、實用和可持續的解決方案，在AgTech中適用於多個垂直領域。我們通過兩個運營部門來推動我們的業務，即AgriFORCE Solutions和AgriFORCE Brands。

我們的兩個部門——農業解決方案（AgriFORCE Solutions）和農業品牌（AgriFORCE Brands）——共同合作解決當今世界面臨的一些存在性挑戰——氣候變化、極端天氣、食品安全和主權、工業和商業養殖業的環境影響，致力於爲全球消費者提供口感更好、營養更豐富的植物基食品和其他產品。

AgriFORCE Solutions：

AgriFORCE Solutions提供AgTech知識、運營解決方案和研究開發（R&D）的諮詢服務，以及增強的擁有專利和申請專利的受控環境農業（CEA）和其他農業設施和平台。

我們已經採取了農業的戰略和全面視野，提供解決這個重要產業面臨的關鍵挑戰的解決方案。我們開發和獲取創新的知識產權（IP）和技術，以改進農業。我們的專業知識從種子到餐桌，涵蓋了植物的整個生命週期——從微繁殖和組織培養到種植——採用了一種專有方法將所有元素融合在一起，包括作物、運營、設施、系統和環境，旨在使植物達到其完整的基因潛力。

從諮詢到我們創新的基礎性知識產權——我們專有的設施和種植系統——再到我們在公司集團中擁有的技術和專業知識，我們已整合了AgTech的關鍵方面，從而創造出一個乾淨的、綠色的、更好的結果。

AgriFORCE Brands：

AgriFORCE Brands部門專注於開發和商業化植物基成分和產品，提供更健康、更營養的解決方案。我們將推廣和商業化既有品牌的消費者產品和成分供應。我們的開始是收購MNG（Manna）知識產權，這是一項用於自然加工和轉化穀物、豆類和根菜的專利待申請技術。該過程可得到低澱粉、低糖、高蛋白、富含纖維素的烘焙麪粉產品和營養液。根據Eurofins Food Chemistry Testing Madison，Inc.進行的獨立測試和實施，該面粉的營養價值具有在多個垂直領域改變消費者飲食的潛力。

MNG麥粉的纖維含量是普通多用途烘焙麪粉的30倍，蛋白質含量是普通多用途烘焙麪粉的3倍，澱粉含量不到15%。

部門：

AgriFORCE解決方案

理解 我們的方法 - AgriFORCE精準生長方法

傳統的 farming包括三種基本方法：室外、溫室和室內。AgriFORCE引入了一種獨特的第四種方法，即AgriFORCE precision growth方法，其受到前沿科學的啓發，利用人工智能（AI）和物聯網（IoT）的最新進展。

通過對設施設計、物聯網、人工智能利用、養分傳遞和微繁殖進行精心優化的方法，我們設計了一種複雜、科學和高成功率的方法，旨在利用更少的資源產生更高的產量。該方法旨在通過新技術和傳統技術的特定組合來超越傳統種植方法，以實現高效產量。我們稱之爲精確增長。AgriFORCE精確增長方法專注於解決農業中一些最重要的遺留挑戰：環境影響、運營效率和產量。

AgriFORCE精細生長方法爲行業板塊的全面顛覆提供了巨大機會。僅營養藥學、植物藥品及生物-疫苗市場的規模就超過5000億美元。加上傳統的水培高價值農作物和受控環境食品市場，可找到的市場接近1萬億美元。^(1)(2)(3).

儘管我們的專利待定知識產權最初針對我們客戶的高價值農產品的水培種植業，在一個不斷增長的市場上展示了其有效性，但我們目前正在擴大業務，使我們的技術和方法適用於蔬菜和水果食品作物。水培種植業被確定爲一個理想的領域來證明概念的可行性。然而，管理層決定公司的重點是發展我們的知識產權，並將我們的精準生長方法應用於其他農業領域，以便我們能夠成爲解決全球食品供應鏈嚴重問題的一部分。

AgriFORCE模型-利用現代技術和創新管理農業垂直領域的困難。

我們的知識產權結合了獨特設計的設施和自動化種植系統，爲大多數農業垂直領域困擾的最大問題提供了明確的解決方案。它提供一個清潔、自給自足的環境，最大限度地利用自然陽光，提供幾乎完美的補充照明。它還限制了人爲干預，關鍵是它被設計成提供優質控制。它還被設計成大幅減少環境影響，大幅降低能源需求，降低生產成本，同時爲客戶提供每日收成和更高的產量。

植物在充足的自然陽光下生長得最茂盛、最美味。雖然對一些人來說可能似乎有些違反直覺，但即使是最清澈的玻璃溫室也會抑制太陽的全光譜。然而，新的半透明和透明薄膜材料已經出現，使太陽的光譜幾乎傳輸完整。

(1) https://home.kpmg/pl/en/home/insights/2015/04/nutraceuticals-智能食品的未來.html

(2) https://link.springer.com/article/10.1057/jcb.2010.37

(3) https://medium.com/artemis/讓我們來談談市場規模-316842f1ab27

與塑料或玻璃不同，這些新的透明膜可以幫助作物實現它們的全部遺傳（和風味）潛力。自然光也可以在必要時溫暖微氣候，大幅減少供暖能源需求。當自然光不可用時，輔助生長燈的進步可以延長植物的光週期，最多可將作物的生長、質量和收穫時間提高50%。

溫室和垂直農場也受到室外和人類引入的污染的影響。這種新模式依賴於創建一個密封的類潔淨室微環境，使害蟲、殺蟲劑和其他污染物留在外面。

由於人工智能、物聯網和類似的技術的進步，農民現在可以從高度自動化的種植系統中受益，這種系統減少了人類干預及其相關成本。經過精細調節的對流空氣循環系統使微環境保持密封和保護。使用陽光和有機泡沫雲的自然溫度調節，可以大大減少空調用電需求。高度自動化的水分、施肥和照明都通過機器學習不斷進行優化。

這個經過四年多的持續研發設計的新AgriFORCE模型，將在Coachella, California的三個新種植設施完工後被投入大規模實踐。這種獨特的方法融入了之前在NASA從事植物航天研究的照明專家的貢獻，旨在以環保的方式顯著提高當地的食品安全性。它充分利用了該設施運營商當前的種植方法（戶外、溫室和室內），並用更先進的技術和工藝替代了它們的不足之處。

任何解決方案，無論是在農業、工業還是消費品領域，通常都是各種獨立部分的整合，這些部分本身需要獨立的技能集和專業水平來實現所需的結果。受控環境農業解決方案，如我們微環境下的種植專利設施和自動種植系統，也不例外。我們的業務圍繞四個支柱展開: 設施和照明；自動化和人工智能；營養物和施肥和微繁殖和遺傳；我們的業務不僅通過未來的Growhouse合同管道擁有巨大的有機增長機會，還通過增值收購爲我們的Agtech平台做貢獻。

我們在農業技術領域的地位

農業技術行業在資本市場上的服務嚴重不足，我們看到有機會收購已經爲行業提供解決方案並領導創新的全球公司。我們正在創建一個單獨的公司辦公室，積極追求這樣的收購。我們與潛在目標的緊密關係已經證實了我們的信念和渴望成爲一個更大的整合性農業科技解決方案提供者的一部分，在這個解決方案中，業務的每個分離元素都有其現有的傳統業務，可以在專業知識領域之間的合作中擴展其業務範圍。我們相信，目前我們所知道的沒有人在美國資本市場環境中追求此模式。和 可以利用跨領域專業知識來擴展業務範圍。我們認爲目前沒有人在美國資本市場環境中追求這種模式。

AgriFORCE Grow House

該公司是一家以農業爲重點的科技公司，通過我們獨有的設施設計和自動化知識產權爲全球企業提供創新可靠的、經濟實力強大的高價值農作物解決方案。該公司打算利用其獨特的設施設計和水培自動化種植系統，在植物基藥品、保健品和高價值農作物市場上運營，以便種植者能夠在受控環境中有效種植作物。該公司稱其設施設計和自動化種植系統爲「農業力AgriFORCE種植屋」。該公司設計農業力AgriFORCE種植屋，能夠在幾乎任何環境條件下生產，並在極大程度上減少對殺蟲劑、殺菌劑和/或輻照的需求，使作物產量最大程度地接近其遺傳潛力，同時大大減少使用農藥的需求。該公司定位於爲一個不斷增長的行業提供解決方案，其中終端用戶要求環保可持續的受控種植環境和過程。初期市場的重點是在加利福尼亞種植食品和其他高價值農作物，並且概念驗證可以將知識產權應用於植物基疫苗材料的生產。該公司認爲，由於種植品質和產量較高以及運營成本較低的組合，該公司的知識產權可能爲室內作物的低成本種植提供解決方案。該公司設計農業力AgriFORCE種植屋作爲一個模塊化種植設施，計劃將其建造並授權給持牌經營者種植食品和高價值農作物。農業力AgriFORCE種植屋採用的設計和技術是該公司於2019年3月7日向美國專利和商標局提交的一項臨時專利的主題。於2020年3月6日，申請了新的國際專利申請號PCT/CA2020/050302，優先權聲明美國62/815，131。該公司的知識產權可以適應各種作物和種植條件，以滿足高級別的環境控制和製藥級等效清潔度和工藝，以滿足最高的種植標準。通過交付第一個設施，該公司應該能夠展示其性能，並針對Good Manufacturing Practices標準的合規性，以便在將其知識產權改造以滿足疫苗和其他醫藥生物質植物的特定要求時，吸引製藥行業的參與。

隨着公司開始施工其微繁殖設施和溫室，公司計劃開始開發其針對水果和蔬菜的解決方案，重點是將其當前結構與一種新形式的垂直種植科技進行集成。儘管許多元件和元素可能在性質上相同或相似，但針對垂直種植和適應照明、循環、氣候控制和溼度控制的自動化和集成可能有所不同。因此，公司打算在完成設計和工程工作之前開發一個小型的商用設施。公司相信可以爲各種CFA形式提供新的知識產權，以期在爲南加州市場提供其首個商用設施之前將其解決方案推向其他作物和美國國內外的當地市場。

我們的知識產權戰略

公司的知識產權和業務集中在四個關鍵要素上：

-該設施利用專有的建築外殼系統，可以幾乎完全透過全光譜和大部分紫外線光譜。它是完全密封的，利用正壓空氣交換來創建一個微環境，通過仿生學的過程優化溫度、溼度、CO₂、空氣速度、過濾和衛生。

-先進的專有增補種植照明技術實現了最佳光效、光譜、分佈特性、自動化DLI管理和裝置架構。

-通過物聯網和人工智能集成的專有自動生長系統和技術。

-自學輸入因素，以創建最高產量、最低影響的培育環境。

-白標和專有以有機爲基礎的混合/產品，旨在改善高產和環境保護性保育。

優化的基於細胞的克隆和組織培養過程，旨在適應設施環境優化，以確保增強的特定遺傳解決方案成果。

爲了最大化AgriFORCE培育大棚的產能，每個AgriFORCE培育大棚計劃都將納入自己的組織培養實驗室，用於微繁殖到公司專有的機械化和自動化生長系統中。AgriFORCE微繁殖實驗室應能夠微型繁殖健康植物苗，使其能夠在其設施中生長成熟。

AGRIFORCE解決方案業務計劃

公司計劃通過專注於有機增長計劃和併購來發展其業務。公司的有機增長計劃主要分爲四個不同的階段：

第一階段：完成：2017-2021

第二階段：2022-2024：

第三階段：2024年至2027年：

第四階段：2027年：

該公司最初的AgriFORCE種植房計劃建在加利福尼亞。

AgriFORCE 品牌

該公司於2021年9月10日從位於愛達荷州博伊西的私人控股公司Manna Nutritional Group，LLC（「MNG」）購買了知識產權（「IP」）。該IP包括天然加工和轉換穀物、豆類和根菜的專利待決技術，從而生產出低澱粉、低糖、高蛋白、豐富食用纖維的烘焙麪粉，以及各種早餐麥片、果汁、天然甜味劑和烘焙增強劑。這個核心進程在美國和關鍵的國際市場上正在申請專利。該全天然進程旨在解鎖現代、古代和傳統穀物、豆類和根菜的營養性、風味和其他品質，創造專業化的全天然烘焙和多用途麪粉、甜味劑、果汁、天然甜味穀物和其他估值產品，爲膳食營養、表現和烹飪應用提供衆多機會。

截至2022年5月17日，AgriForce Growing Systems，Ltd（「公司」）完成了與Manna Nutritional Group LLC（「MNG」）簽署的資產購買協議的修訂。該修訂更改了其中的2.04（i）款的某些規定。 2.04（i）條款已修改爲發放預融資認股證，而不是股票，前3.5美元的權益觸發估值日期爲2022年3月10日，而下一個1.5美元的權益觸發估值日期是公司的普通股在提交再提交日期的前十個交易日內的VWAP。 該資產購買協議中列出的專利中的工作日期。第2.04（iv）項已修改爲在2022年6月30日的兩個交易中也發放預融資認股證。如果在交易日起24個月內頒發專利（按資產購買協議定義），則前述800萬美元的預融資認股權將分別於發放專利的日期和其後三個月的週年日期上分四次歸屬。如果上述專利未在交易日起24個月內頒發，則退回該預融資認股權，交易價格將按比例調整。修訂還包含在預融資認股權可以轉換爲公司普通股之前獲得股東批准的契約條款。

公司計劃將消費產品和食品製造商創新成分提供重新定位，打造(un)Think食品品牌。

小麥和麪粉市場

現代飲食被認爲是心臟病、癌症、糖尿病和肥胖等健康風險的因素，部分原因是因爲人們攝入了高度加工的食物，這些食物缺乏天然纖維、蛋白質和營養，而且含有大量簡單的澱粉、糖和卡路里。這些「空洞的碳水化合物」產生的血糖波動可能會引發對富含糖、鹽和澱粉的食物的渴望，從而導致過度進食。例如，傳統的麪粉幾乎不含天然纖維（約2-3%）、蛋白質含量低至中等（約9%）且澱粉含量非常高（約75%）。全麥麪粉也只是稍微好一些。同樣，無麩質產品通常使用馬鈴薯粉、米粉、木薯等含糖和澱粉的成分製成。無麩質產品通常富含澱粉、高卡路里、低纖維和營養。

相比之下，富含纖維的食物有助於緩解飢餓、抑制食慾、提高新陳代謝，並需要更多卡路里來消化。它們還有助於減肥、降低膽固醇，並可能降低患癌症、心臟病和糖尿病的風險。

優點 MNG IP 的

這個 CERES-MNG 工藝允許開發和製造纖維和營養素含量明顯更高的全天然麪粉 和蛋白質，碳水化合物和卡路里含量明顯低於標準烘焙粉。

如下圖所示，由軟白小麥生產的MNG烘焙麪粉的纖維含量是標準多用途烘焙麪粉的30倍，蛋白質含量是其3倍，澱粉含量減少80%，熱量減少50-60%。

這個 CERES-MNG正在申請專利的程序預計將有助於利用現代、古代和傳統的穀物、種子開發新的麪粉和產品 豆類和塊莖類/根莖類蔬菜。

爲什麼選擇Manna NG而不是Keto或低碳水化合物麪粉和發芽穀物麪粉？

最後，CERES-MNG工藝創造了一種液體副產品，其中含有高纖維、高蛋白質、麥芽糖甜汁（能量汁），我們打算開發營養飲料、口味飲料，並用作營養棒的基礎。

AgriFORCE打算從CERES/MNG工藝中開發商業化產品:

我們打算在兩個主要的市場推廣策略背後商業化這些產品:

AgriFORCE爲成功將Manna IP的優質專業產品商業化而提供的商業機會，通過佔有其目標進入高端市場的保守非常小的份額。我們預計這些收益將在2025年達到50億至100億美元（不包括潛在的麥芽糖果汁應用的任何潛在收益）。

來源：San Francisco CA, 2018預測的Grand View Research Reports。

Manna IP的產品反映了健康、營養和飲食方面的消費趨勢。

以植物蛋白、低碳水化合物（特別是「空」碳水化合物）和天然高纖維飲食爲重要的健康和營養關鍵，並在抗擊癌症、糖尿病、消化系統疾病、高膽固醇、肥胖和心臟疾病方面至關重要。

CERES-MNG Process的高蛋白、高纖維、低碳水化合物產品，可滿足這些不斷增長的消費者需求。

最重要的是，Manna IP產品主要面向千禧和嬰兒潮一代，這些人越來越多地尋求更健康的食品替代品。

長期未來應用-產品開發；醫學研究和開發

以下概述了未來的應用，研究和發展。這可能包括對2型糖尿病的控制研究，以及一個完全獨立的醫學研究組織（MRO）和研究實驗室，由私人和公共研究撥款支持。

AGRIFORCE BRANDS BUSINESS PLAN

AgriFORCE’s organic growth plan to actively establish and deploy the commercialization of products, following the acquisition of the MNG IP, is focused on four distinct phases:

PHASE 1: COMPLETED: 2017-2020

PHASE 2: 2021-2022

PHASE 3: 2022-2023

PHASE 4: 2024-2025

Merger and Acquisition (“M&A”)

With respect to M&A growth, the Company is creating a separate corporate office to aggressively pursue acquisitions. The Company plans to focus on identifying target companies, which help expand AgriFORCE Brand’s mandate to deliver more nutritious (better for you) crops, ingredients, and plant-based products that are sustainably produced. The Company believes that AgriFORCE Solutions platform of IP and group of companies acquired through M&A can identify opportunities to produce crops more sustainably and that offer unique competitive advantages through the supply chain to ultimately have them converted into ingredients and plant based products or simply sold to consumers through AgriFORCE Brands.

Below is a summary of the intended strategy with respect to the Company’s M&A strategy:

Strategy

Delphy Groep BV Acquisition

On February 10, 2022, the Company signed a definitive agreement to acquire Delphy Groep BV (“Delphy”), a Netherlands-based AgTech consultancy firm, for $23.1 million through a combination of cash and stock. The closing of the transaction was expected to occur within 60 days of the signing date but is subject to shareholder approval and completion of audited financials of Delphy. The definitive agreement follows the binding letter of intent (“LOI”) as previously announced in the Company’s press release in October 2021. Delphy, which optimizes production of plant-based foods and flowers, has multinational operations in Europe, Asia, Kazakhstan, and Africa, with approximately 200 employees and consultants. Delphy’s client list includes agriculture companies, governments, universities, and leading AgTech suppliers, who turn to the company to drive agricultural innovation, solutions, and operational expertise.

Deroose Plants NV Binding Letter of Intent

On February 23, 2022, the Company signed a binding letter of intent (the “LOI”) with Deroose Plants NV (“Deroose”), one of the largest tissue culture propagation companies in the world with a leadership position in horticulture, plantation crops, and fruit and vegetables. Founded in 1980, Deroose has multi-national operations in Europe, North America, and Asia, and over 800 employees.

The LOI is subject to completion of standard due diligence and entry into a definitive purchase agreement, which shall include commercially standard terms and conditions, including, but not limited to, representations and warranties, covenants, events of default and conditions to closing.

The net purchase price by the Company is expected to be approximately $59.8 million. The purchase price represents approximately $40.2 million for the Deroose business on a cash and debt free basis and $19.6 million for the genetic IP portfolio.

Corporate Structure

The Company currently has the following wholly-owned subsidiaries, which perform the following functions – AgriFORCE Investments handles any investments in the U.S., West Pender Holdings holds real estate assets, West Pender Management manages those assets, and AGI IP holds intellectual property in the U.S. and DayBreak is dormant:

三年曆史概要。

從公司成立（2017 年 12 月 22 日）到本備案日期，公司主要從事完成其初始公司組織、組建管理團隊、完成其知識產權的設計和工程，並適當地申請知識產權保護，並通過在加利福尼亞州進行初始運營的初步步驟來實施其業務計劃。此期間的重要里程碑如下：

負債融資

July 2022 Debt Financing

2022年6月30日，AgriForce Growing Systems，Ltd.（「公司」）與兩家機構投資者（「投資者」）簽訂了一份證券購買協議（「SPA」），初始購買了1402.5萬美元的債券（「債券」）和配套的認股權證（「認股權證」），並有權再購買多達3300萬美元的債券和配套認股權證。根據SPA，公司預計將於2022年7月6日收到1275萬美元的初始金額（扣除相關費用），並有權根據每位購買者（「投資者」）的自主決定，在一個或多個階段，根據一定條件以當時的市場價格每份最低500萬美元的情況下，最多再 recebive3300萬 美元 。SPA包含行業標準的陳述和保證以及否定性契約，包括但不限於根據SPA中規定的一定情況下公司可負債和發行的債務和其他證券的限制。

貸款證券的初始換股價格爲2.22美元/股。貸款證券將於2022年6月30日起2.5年到期，公司可通過支付8％的年利率支付18個月的利息，以在額外的六個月期間進行延期。債券折扣率爲10％，頭12個月的利率爲5％，然後爲6％，直到最後兌付的8％。債劵在25個月的償還期內攤銷，從2022年9月1日開始，頭12個月的債劵攤銷金額僅可以用現金支付，此後可以選用現金或股票支付。一旦某些條件出現，公司只能選擇用股票支付每月攤銷費用，這些條件在債券中說明，包括但不限於，在適用日期前連續20個交易日的每個交易日中，股票的每日交易量在主要交易市場上超過100萬美元，公司沒有違反其債券的任何義務，已經對其債券和已發行的股票進行有效登記聲明，並且公司符合所有納斯達克上市的要求。債券包含商業標準的違約事件和契約等條款。^th 債券的期限爲月，並由利率爲8%的六個月利息。債券面值享受10%的原始發行折扣，頭12個月利率爲5%，接下來的12個月利率爲6%，到期前利率爲8%。債券的攤銷期爲25個月，從2022年9月1日開始，並且債券的攤銷分期款只能以現金支付其前12個月的款項，之後可以選擇以現金或股票支付，由公司決定。一旦攤銷分期款可以以股票或現金支付，只有符合在債券中規定的某些權益條件的情況下，公司才能選擇以股票支付該月的攤銷分期款，這些條件包括但不限於，在適當的日期之前連續20個交易日中，普通股在主要的交易市場上的每日交易量超過100萬美元，公司未違反債券規定中的任何義務，公司採用了有效的註冊聲明書進行了債券發行股份，公司符合所有nasdaq上市要求。債券包含商業上的標準違約事件和契約等條款。

In addition, the Investors have received 3.5-year Warrants with 65% warrant coverage at an initial exercise price of $2.442 per share, subject to customary adjustments, including a price ratchet (to the price of the new issuance) if it issues its common shares at a price less than the then in effect exercise price and are subject to standard pro rata dilution for reverse stock splits and the like. The Debentures have the same dilution protection as the Warrants.

公司附屬公司還簽署了附屬公司擔保協議，根據該協議，每個附屬公司均保證履行公司根據SPA和相關工具的義務。每位公司的官員和董事也簽署了鎖定協議，根據該協議，在2022年6月30日起的一年內不得出售每個人擁有的公司普通股（在各自的就業協議中獲得的股票除外），該協議規定這些人在2023年1月1日開始有權出售股票

The Company has entered into a Registration Rights Agreement with the Investors to register the shares issuable upon conversion of the Debentures and exercise of the Warrants with a registration statement to be filed on Form S-1 no later than 30 days from June 30, 2022 (or any subsequent closing) and effective no later than 60 days from June 30, 2022 (or the date of any subsequent closing; or 90 days, if there is full SEC review). Penalties for missing those deadlines are equal to 2% of the subscription amount per month up to 10% of the subscription amount.

The Company’s subsidiaries have also entered into subsidiary guarantees pursuant to which each guarantees the performance of the Company of its obligations under the SPA and related instruments. Each of the officers and directors has also entered into a lockup agreement to not sell any common shares of the Company owned by each such person for one year from June 30, 2022 (subject to the ability to sell shares received by each as the result of an employment agreement at any time, which ability to sell shares commences on January 1, 2023).

All of the Debentures and Warrants sold under the SPA are sold in private placement transactions exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended.

Micropropagation Laboratories

The Company has undertaken the steps described below in connection with the design and deployment of the Company’s micropropagation laboratories. These laboratories are expected to be deployed at the Company’s AgriFORCE grow houses. However, the Company has identified a business opportunity to build out an existing warehouse facility in collaboration with a wholly owned subsidiary of Deroose Plants N.V., to be established in the United States. The Company’s previous potential arrangement with an existing micropropagation lab which required additional capacity fell through as commercial terms could not be agreed. The advantage of the Company for pursuing this opportunity is that it enables the Company to achieve initial revenues in advance of incurring the full construction expenditure required for the initial AgriFORCE grow houses, thereby providing internally generated funding for the Company’s expenditures and tests of the micropropagation process with the selected crops:

The Company is currently working with Deroose Plants N.V. management to select a lab location and plan the commercialization of its future micropropagation operation. Concurrently, the Company is engaging in discussions with respect to the commercial arrangement of providing micropropagation services for another micropropagation lab’s excess volume requirements as well as exploring opportunities to provide such services to potential customers.

Intellectual Property

The Company’s intellectual property rights are important to its business. In accordance with industry practice, the Company protects its proprietary products, technology and its competitive advantage through a combination of contractual provisions and trade secret, copyright and trademark laws in Canada, the United States and in other jurisdictions in which it conducts its business. The Company also has confidentiality agreements, assignment agreements and license agreements with employees and third parties, which limit access to and use of its intellectual property.

Patent Applications

Trademarks

Our Competitive Conditions

Both indoor and greenhouse growing facilities have come to the forefront in recent years. With the advent of new business opportunities and the necessity and demand for increasing efficiency and yields, the facility design for both indoor and greenhouse has been significantly improved through advancing technologies and operational procedures, even more importantly in hybrid facility environments.

In recent decades, the greenhouse industry has been transforming from small scale facilities used primarily for research and aesthetic purposes (i.e. botanic gardens) to significantly more large-scale facilities that compete directly with land-based conventional food and ornamental plant production. While indoor growing allows production throughout the year and in most geographical locations, the energy used for lighting and climate control is costly while those systems are critical to the success, efficiency and yield of the operation. In large part due to the recent improvements in growing technology, the industry is witnessing a blossoming like no time before. Greenhouses today are increasingly emerging that are large-scale, capital-infused, more resource conscientious and urban-centered.

A major part of this recent transformation in the greenhouse industry has been the rise of a technology-infused Smart Greenhouse Market. Smart Greenhouses feature new levels of technology and automated control systems that allow for further optimization of growing conditions. These technologies include LED grow-lights that provide energy efficient supplemental lighting during cloudy conditions and at night, as well as an array of smart sensors that can detect issues with plants or the growing environment as they arise and trigger responses from different control systems.

No matter the country or region, one universal trend is that modern greenhouses are being built closer to metropolitan areas and large transportation hubs. One reason for this shift is to locate greenhouses closer to universities where research opportunities and skilled labor abound. As greenhouses become more tech-heavy, having this proximity to research institutions is expected to be an important factor in location.

As the market has grown dramatically, it has also experienced clear trends in recent years. Modern greenhouses are becoming increasingly tech-intensive, using LED lights and automated control systems to tailor optimal growing environments. Successful greenhouse companies are scaling significantly and locating their growing facilities near urban hubs to capitalize on the ever-increasing demand for local (sustainable, conscientious, nutritious) food, no matter the season. To accomplish these feats, the greenhouse industry is also becoming increasingly capital-infused, using venture funding and other sources to build out the infrastructure necessary to compete in the current market.

As the smart greenhouse market continues to expand, new technologies are also coming online that are expected to shape the future of production. Like before, many of these technologies are being developed for the greenhouse industry in particular. However, perhaps recently more than ever, innovation is also coming from other sectors. From artificial intelligence to Solar PV, new technologies from a wide range of industries are now finding their way into the modern greenhouse.

Past and current deficiencies with indoor farming in general have already signaled two important messages. First, there is logical reasoning to support the argument that indoor agriculture may become the norm and play a vital role to our current food (water intensive, non-grain) landscape. It will not be an easy journey, but the industry is growing and evolving at a fascinating speed. Second, technology advancements play a key role in leading the industry to continue to mature and reach greater efficiencies, production, and profitability.

As the global population continues to grow, and resources like land and water become more restricted, greenhouse (and hybrid) farming are expected to be a dominant contributor for feeding global population that is just as important as land-based farming.

As a whole, the solutions provided to the agriculture industry have been driven by the integration of disparate components predominately lead by the client / farmer, major greenhouse vendors such as Kubo, Van der Hoeven, Certhon and Havecon or by major automation vendors such as Codema Systems or Ridder Group. This has resulted in fragmentation and sub-optimal IP that has not been fully integrated in a form as the Company is endeavoring to provide. Additionally, many solutions often are an amalgamation of disparate parts and vendors that are not necessarily optimized for a particular crop. In the indoor growing space, this is even more pronounced as the facility is often a simple warehouse which is in and of itself suboptimal and the draw backs are more pronounced. Often the integration is led by the cultivators themselves, who often do not possess the necessary skills to effectively manage such a process or it is led by one of the main vendors.

科技

未來：硬件、軟件和植物生理學

目前，創新由三個主要驅動器推動：公司內部開發、技術提供商和「跨行業交流」。新興公司有很大的潛力創造創新性產品。當公司展示其創新技術的應用方式時，其他公司可以採用或進一步開發這些想法。還有一些專門從事農業技術的技術提供商。通過跨行業交流，我們可以從其他行業獲得現有技術，以用於溫室應用。

照明/材料

能源成本-主要與照明有關-在溫室設施的運作中非常重要。照明是在完全封閉環境中種植植物的關鍵組成部分，因爲它是植物進行光合作用使用的主要能量輸入。發光二極管（LED）在20世紀70年代首次用於室內種植，其效果比以前使用的白熾燈更高效地補充自然陽光。隨着LED技術的進步，成本在過去的10年中大幅下降-特別是LED照明成本減少了一半，而效能（或光能）增加了一倍多。隨着技術的發展和這一趨勢的繼續，我們可以預期成本將繼續下降。此外，精確控制照明可以實現可重複的「光配方」的發現和傳播，這些光配方是專門針對在室內種植的作物開發和使用的。培育者們正在利用這些光配方來操控植物的生長、口感和營養成分。

在 除照明外，與材料相關的改進也有助於提高效率。像Soliculture這樣的公司正在鋪平道路 溫室材料革命之路。他們的 LUMO 太陽能電池板包含排列的低密度硅光伏 (PV) 條 中間有空間，允許光線在條帶之間傳輸。背面附着一層薄薄的發光材料 玻璃的，通過將綠光轉換爲紅光來提高光質量。紅光的光合作用效率最高 在植物中，因此這種優化的光譜可以提高產量，更快的成熟率，並且已被證明會導致更多的疾病 抗性植物。

數據/人工智能

人工智能預計在未來幾年將大幅增長，在這些年中，人類肯定不會過時，而是在領導創新，顯著增強企業成果方面至關重要的人才。AI 動力工具正在農業等幾個行業中越來越受歡迎。在未來，我們預計 AI 將通過自動化和預測性分析在運營中使用。

機器人正在逐漸取代人類，我們看到越來越多的全自動化操作。機器人擅長重複、精密和單調的任務，如播種、除草和收割。初創公司Iron Ox從播種到收穫全過程都使用機器人。這樣可以將資源分配到其他地方，集中精力提高總體生產效率。機器人可以減少勞動力成本，提高效率。目前，農業面臨着勞動力短缺的局面，原因有移民政策和欠缺工作意願等。機器人可以填補缺少勞動力的空白。

這個 允許將資源分配到其他地方，專注於其整體生產。機器人還可以降低勞動力成本，同時提高效率。 目前，農業正面臨勞動力短缺，原因從移民政策到缺乏在該行業工作的願望。 機器人可以幫助填補缺失勞動力的空白。

人工智能和機器學習技術的發展旨在整合和提供更精確的綜合種植操作控制。農業科技公司Autogrow提供智能自動化系統，包括pH傳感器、灌溉和氣候控制產品。硬件和軟件都在不斷改進，以更加分析化，幫助檢測和解決諸如害蟲管理、營養液維護和疾病預防等問題。

隨着人工智能技術的發展和成本的降低，自動化將變得更加可行和可用。降低勞動力成本應該可以降低產品價格，使本地食品更加易於獲得。

生物技術發展

雖然改善環境控制和種植方法有望帶來更大的農作物產量，但生物改變可以更具體地定製植物以適應不同的生長環境和消費者需求。室內種植環境和加工設施減少了植物在面對環境波動、病蟲害和收穫後傷害時所需的穩定特性。新的植物育種技術和基因編輯技術，如CRISPR/Cas9，可以用於促進以快速植物生長、在低光環境中的表現、植株高度、營養和風味爲重點的新植物特性。結合增強的環境控制和生物控制，還可以在不同的生長條件下實現可變基因表達。這可能導致與戶外作物不同的作物品種，用於新的烹飪應用，併爲室內種植的農產品創造獨特的市場。

工業 協同效應

隨着充分利用技術供應商和跨學科創新者的崛起，我們可以預見到合作和知識共享將變得更加普遍。除了提供更有效的室內種植技術外，合作還可以證實公司之間的合作伙伴關係，從而降低它們的生態足跡。例如，將溫室與工業發電廠合作可以將燃燒過程產生的二氧化碳和熱量轉移到農作物中，以增強光合作用和氣候控制。此外，可以通過將堆肥食物廢料用於土壤型溫室來避免填埋場，以肥料的形式施肥農作物。另一方面，透明太陽能板可以使溫室成爲能源淨生產者，爲附近的建築物提供能源而不影響農作物的生長表現。

新技術和思想有望更好地將農產品企業與周圍世界整合，幫助城市和工業社區變得更加高效和可持續。

Innovation in technology and practice are believed to be the key drivers of new developments in indoor and greenhouse ag businesses. While these developments may be diverse and multidimensional, their effects are expected to be focused on improvements to the potential scale and efficiency of, and quality of food from, indoor agriculture. Following the greenhouse’s historical trajectory, we believe it is safe to assume its relevance to global food systems may continue to expand as we progress into the future.

Competitor Comparison

The Company believes that it has no direct competitors who provide a proprietary facility design and automated grow system as well as a system of operational processes designed to optimize the performance of the Company’s grow houses. On a broader basis, the competitive landscape includes greenhouse vendors, agriculture systems providers, automated grow system vendors, and system/solutions consultants.

Competitive Differentiation

The Company believes it has developed one of the world’s most technologically advanced indoor agriculture systems by focusing on competitive differentiators to deliver vastly improved results beyond conventional indoor approaches. By conceiving new IP, as well as utilizing tried trued tested existing Ag-Tech and Bio-Tech solutions, the Company delivers integrated unique architectural design, intelligent automation and advanced growing processes to create precisely controlled growing environments optimized for each nominated crop variety. These precision ecosystems should enable the Company to cost-effectively produce the cleanest, greenest and most flavorful produce, as well as consistent medical-grade plant-based nutraceuticals and pharmaceuticals, available. The key points of differentiation are as follows:

Employees

As of August 9, 2022, the Company has 15 employees and five consultants. The Company also relies on consultants and contractors to conduct its operations. The Company anticipates hiring additional employees to support its planned activities.

Operations

The Company primary operating activities are in California. The Company’s head office is located in Vancouver, British Columbia, Canada with a second office opening in the Rotterdam, Netherlands. The Company intends to open a project office near Coachella, CA. The Company also plans to construct its initial micropropagation laboratories and its initial AgriFORCE grow houses in the State of California.

Description of Property

The Company currently leases office space at 2233 Colombia Street, Suite 300, Vancouver, B.C., V5Y 0M6 as its principal office. The Company believes the office is in good condition and satisfy its current operational requirements. The Company also leases an office space at Weena 505 Rotterdam, Netherlands

Litigation

We are subject to the legal proceeding and claims described in detail in “Note 16. Commitments and Contingencies” to the audited financial statements included in this filing. Although the results of litigation and claims cannot be predicted with certainty, as of the date of this filing, we do not believe the outcome of such legal proceeding and claims, if determined adversely to us, would be reasonably expected to have a material adverse effect on our business. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

RISK FACTORS

Investing in our securities involves a high degree of risk. Before making an investment decision, you should consider carefully the risks, uncertainties and all risk factors set forth in the applicable prospectus supplement and the documents incorporated by reference in this prospectus, including the risk factors discussed under the heading “Risk Factors” in our most recent Annual Report on Form 10-K for the year ended December 31, 2021 and each subsequent filed quarterly report on Form 10-Q and current reports on Form 8-K, which may be amended, supplemented or superseded from time to time by the other reports we file with the SEC in the future.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This prospectus contains forward-looking statements. Such statements include statements regarding our expectations, hopes, beliefs or intentions regarding the future, including but not limited to statements regarding our market, strategy, competition, development plans (including acquisitions and expansion), financing, revenues, operations, and compliance with applicable laws. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause actual results to differ materially from such forward-looking statements include the risks described in greater detail in the following paragraphs. All forward-looking statements in this document are made as of the date hereof, based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statement. Market data used throughout this prospectus is based on published third party reports or the good faith estimates of management, which estimates are based upon their review of internal surveys, independent industry publications and other publicly available information.

You should review carefully the section entitled “Risk Factors” within this prospectus for a discussion of these and other risks that relate to our business and investing in shares of our Common Stock.

All forward-looking statements speak only as of the date of this prospectus. We disclaim any obligation to update or revise these statements unless required by law, and you should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this prospectus are reasonable, we can give no assurance that these plans, intentions or expectations will be achieved. We disclose important factors that could cause our actual results to differ materially from our expectations under “Risk Factors” and elsewhere in this prospectus. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.

Risks Relating to the Company’s Business

The Company is an early stage company with little operating history, a history of losses and the Company cannot assure profitability.

The Company currently has no revenues and does not have any history of revenue generating operations. The Company has been involved to date in the design and development of its AgriFORCE grow house which incorporates the Company’s AgriFORCE micropropagation laboratories. While the Company has invested considerably in this development and design process, no AgriFORCE grow house has been constructed to date and accordingly, the commercial or operating viability of the AgriFORCE grow house has not been proven, or when, if ever, the Company will generate revenue from its operations, and if those revenues, when and if generated, will be sufficient to sustain operations, nonetheless achieve profitability.

There is no assurance that the Company’s AgriFORCE grow houses or micropropagation laboratories will operate as intended.

The Company’s initial state of business operations contemplates the construction and deployment of its initial AgriFORCE grow house and micropropagation laboratories. However, the Company has yet to complete construction of any laboratories. Accordingly, this component of the Company’s business plan is subject to considerable risks, including:

COVID-19 or any pandemic, epidemic or outbreak of an infectious disease in the United States or elsewhere may adversely affect our business.

The COVID-19 virus has had unpredictable and unprecedented impacts in the United States and around the world. The World Health Organization has declared the outbreak of COVID-19 as a “pandemic,” or a worldwide spread of a new disease. Many countries around the world have imposed quarantines and restrictions on travel and mass gatherings to slow the spread of the virus. In the United States, federal, state and local governments have enacted restrictions on travel, gatherings, and workplaces, with exceptions made for essential workers and businesses. As of the date of this filing, we have not been declared an essential business. As a result, we may be required to substantially reduce or cease operations in response to governmental action or decree as a result of COVID-19. We are still assessing the effect on our business from COVID-19 and any actions implemented by the federal, state and local governments. We have implemented safety protocols to protect our staff, but we cannot offer any assurance that COVID-19 or any other pandemic, epidemic or outbreak of an infectious disease in the United States or elsewhere, will not materially and adversely affect our business.

Fluctuations in the exchange rate of foreign currencies could result in losses.

We incur a portion of our operating expenses in Canadian dollars, and in the future, as we expand into other foreign countries, we expect to incur operating expenses in other foreign currencies. We are exposed to foreign exchange rate fluctuations as the financial results of our international operations are translated from the local functional currency into U.S. dollars upon consolidation. A decline in the U.S. dollar relative to foreign functional currencies would increase our non-U.S. revenue and improve our operating results. Conversely, if the U.S. dollar strengthens relative to foreign functional currencies, our revenue and operating results would be adversely affected. We have not previously engaged in foreign currency hedging. If we decide to hedge our foreign currency exchange rate exposure, we may not be able to hedge effectively due to lack of experience, unreasonable costs or illiquid markets.

The Company will require additional financing and there is no assurance that additional financing will be available when required.

The Company will require substantial additional capital in order to acquire or lease the Coachella land, develop the Coachella lands for use, develop the micropropagation laboratories and operate them, and complete construction of its initial AgriFORCE grow house. The funds raised in this offering may not be sufficient and additional financing may be needed for this purpose and for other purposes. The Company plans to achieve this additional financing through equity and/ or debt financing which may be dilutive to the position of then current shareholders. However, there is no assurance that this financing will be available when required. Specifically, there is no assurance that the Company will be able to raise any additional equity financing through its shares given that the viability of the Company’s AgriFORCE grow houses will not be demonstrated until after construction is complete. In addition, there is no assurance that the Company will be able to secure debt financing given its low asset base and its current lack of revenues.

The Company had negative cash flow for the period ended March 31, 2022.

The Company had negative cash flows from operating activities for period ended March 31, 2022. To the extent that the Company has negative cash flows from operating activities in future periods, it may need to allocate a portion of its cash reserves to fund such negative cash flow. The Company may also be required to raise additional funds through the issuance of equity or debt securities. There can be no assurance that the Company will be able to generate a positive cash flow from operating activities, that additional capital or other types of financing will be available when needed or that these financings will be on terms favorable to the Company. The Company’s actual financial position and results of operations may differ materially from the expectations of the Company’s management.

The Company’s actual financial position and results of operations may differ materially from the expectations of the Company’s management.

The Company’s actual financial position and results of operations may differ materially from management’s expectations. The process for estimating the Company’s revenue, net income and cash flow requires the use of judgment in determining the appropriate assumptions and estimates. These estimates and assumptions may be revised as additional information becomes available and as additional analyses are performed. In addition, the assumptions used in planning may not prove to be accurate, and other factors may affect the Company’s financial condition or results of operations. As a result, the Company’s revenue, net income and cash flow may differ materially from the Company’s projected revenue, net income and cash flow.

The Company expects to incur significant ongoing costs and obligations related to its investment in infrastructure, growth, regulatory compliance and operations.

The Company expects to incur significant ongoing costs and obligations related to its investment in its initial AgriFORCE grow houses. To the extent that these costs may be greater than anticipated or the Company may not be able to generate revenues or raise additional financing to cover these costs, these operating expenses could have a material adverse impact on the Company’s results of operations, financial condition and cash flows. In addition, future changes in regulations, more vigorous enforcement thereof or other unanticipated events could require extensive changes to the design and operation of the Company’s AgriFORCE grow houses, which could increase construction costs and have a material adverse effect on the business, results of operations and financial condition of the Company. The Company’s efforts to construct its AgriFORCE grow houses and grow its business may be costlier than the Company expects, and the Company may not be able to recover sufficient revenues to offset its higher operating expenses. The Company may incur significant losses in the future for a number of reasons, including, unforeseen expenses, difficulties, complications and delays, and other unknown events. If the Company is unable to achieve and sustain profitability, the market price of our securities may significantly decrease.

There is no assurance the Company will be able to repatriate or distribute funds for investment from the United States to Canada or elsewhere.

In the event that any of the Company’s investments, or any proceeds thereof, any dividends or distributions there from, or any profits or revenues accruing from such investments in the United States were found to be in violation of money laundering legislation or otherwise, such transactions may be viewed as proceeds of crime under applicable federal laws, rules and regulations or any other applicable legislation. This could restrict or otherwise jeopardize the ability of the Company to declare or pay dividends, effect other distributions or subsequently repatriate such funds back to Canada or elsewhere.

The Company may not be able to effectively manage its growth and operations, which could materially and adversely affect its business.

If the Company implements it business plan as intended, it may in the future experience rapid growth and development in a relatively short period of time. The management of this growth may require, among other things, continued development of the Company’s financial and management controls and management information systems, stringent control of costs, the ability to attract and retain qualified management personnel and the training of new personnel. The Company intends to utilize outsourced resources, and hire additional personnel, to manage its expected growth and expansion. Failure to successfully manage its possible growth and development could have a material adverse effect on the Company’s business and the value of the Shares.

The Company may face significant competition from other facilities.

Many other businesses in California engage in similar activities to the Company, leasing commercial space to agricultural producers generally, and providing additional products and services to similar customers. The Company cannot assure you that it will be able to compete successfully against current and future competitors. Competitive pressures faced by the Company could have a material adverse effect on its business, operating results and financial condition.

If we are unable to protect our intellectual property, our business may be adversely affected.

We must protect the proprietary nature of the intellectual property used in our business. There can be no assurance that trade secrets and other intellectual property will not be challenged, invalidated, misappropriated or circumvented by third parties. Currently, our intellectual property includes provisional patents, patent applications, trademarks, trademark applications and know-how related to business, product and technology development. We plan on taking the necessary steps, including but not limited to the filing of additional patents as appropriate. There is no assurance any additional patents will issue or that when they do issue, they will include all of the claims currently included in the applications. Even if they do issue, those new patents and our existing patents must be protected against possible infringement. Nonetheless, we currently rely on contractual obligations of our employees and contractors to maintain the confidentiality of our products. To compete effectively, we need to develop and continue to maintain a proprietary position with respect to our technologies, and business. The risks and uncertainties that we face with respect to intellectual property rights principally include the following:

It is also possible that others may obtain issued patents that could prevent us from commercializing certain aspects of our products or require us to obtain licenses requiring the payment of significant fees or royalties in order to enable us to conduct our business. If we license patents, our rights may depend on maintaining our obligations to the licensor under the applicable license agreement, and we may be unable to do so. Furthermore, there can be no assurance that the work-for-hire, intellectual property assignment and confidentiality agreements entered into by our employees and consultants, advisors and collaborators will provide meaningful protection for our trade secrets, know-how or other proprietary information in the event of any unauthorized use or disclosure of such trade secrets, know- how or other proprietary information. The scope and enforceability of patent claims are not systematically predictable with absolute accuracy. The strength of our own patent rights depends, in part, upon the breadth and scope of protection provided by the patent and the validity of our patents, if any.

We operate in an industry with the risk of intellectual property litigation. Claims of infringement against us may hurt our business.

Our success depends, in part, upon non-infringement of intellectual property rights owned by others and being able to resolve claims of intellectual property infringement without major financial expenditures or adverse consequences. Participants that own, or claim to own, intellectual property may aggressively assert their rights. From time to time, we may be subject to legal proceedings and claims relating to the intellectual property rights of others. Future litigation may be necessary to defend us or our clients by determining the scope, enforceability, and validity of third-party proprietary rights or to establish its proprietary rights. Some competitors have substantially greater resources and are able to sustain the costs of complex intellectual property litigation to a greater degree and for longer periods of time. In addition, patent holding companies that focus solely on extracting royalties and settlements by enforcing patent rights may target us. Regardless of whether claims that we are infringing patents or other intellectual property rights have any merit, these claims are time-consuming and costly to evaluate and defend and could:

In addition to liability for monetary damages, which may be tripled and may include attorneys’ fees, or, in some circumstances, damages against clients, we may be prohibited from developing, commercializing, or continuing to provide some or all of our products unless we obtain licenses from, and pay royalties to, the holders of the patents or other intellectual property rights, which may not be available on commercially favorable terms, or at all.

We have limited foreign intellectual property rights and may not be able to protect our intellectual property rights throughout the world.

We have limited intellectual property rights outside the United States. Filing, prosecuting and defending patents on devices in all countries throughout the world would be prohibitively expensive, and our intellectual property rights in some countries outside the United States can be less extensive than those in the United States. In addition, the laws of some foreign countries do not protect intellectual property to the same extent as laws in the United States. Consequently, we may not be able to prevent third parties from practicing our inventions in all countries outside the United States, or from selling or importing products made using our inventions in and into the United States or other jurisdictions. Competitors may use our technologies in jurisdictions where we have not obtained patents to develop their own products and further, may export otherwise infringing products to territories where we have patents, but enforcement is not as strong as that in the United States.

Many companies have encountered significant problems in protecting and defending intellectual property in foreign jurisdictions. The legal systems of certain countries, particularly China and certain other developing countries, do not favor the enforcement of patents, trade secrets and other intellectual property, which could make it difficult for us to stop the infringement of our patents or marketing of competing products in violation of our proprietary rights generally. To date, we have not sought to enforce any issued patents in these foreign jurisdictions. Proceedings to enforce our patent rights in foreign jurisdictions could result in substantial costs and divert our efforts and attention from other aspects of our business, could put our patents at risk of being invalidated or interpreted narrowly and our patent applications at risk of not issuing and could provoke third parties to assert claims against us. We may not prevail in any lawsuits that we initiate and the damages or other remedies awarded, if any, may not be commercially meaningful. The requirements for patentability may differ in certain countries, particularly developing countries. Certain countries in Europe and developing countries, including China and India, have compulsory licensing laws under which a patent owner may be compelled to grant licenses to third parties. In those countries, we and our licensors may have limited remedies if patents are infringed or if we or our licensors are compelled to grant a license to a third party, which could materially diminish the value of those patents. This could limit our potential revenue opportunities. Accordingly, our efforts to enforce our intellectual property rights around the world may be inadequate to obtain a significant commercial advantage from the intellectual property that we develop or license.

If we are unable to obtain or defend our patents, our business could be materially adversely affected.

Our patent position is highly uncertain and involves complex legal and factual questions. Accordingly, we cannot predict the breadth of claims that may be allowed or enforced under our patents or in third-party patents. For example, we might not have been the first to make the inventions covered by each of our pending patent applications and provisional patents; we might not have been the first to file patent applications for these inventions; others may independently develop similar or alternative technologies or duplicate any of our technologies; it is possible that none of our pending patent applications will result in issued patents; our issued patents may not provide a basis for commercially viable technologies, or may not provide us with any competitive advantages, or may be challenged and invalidated by third parties; and, we may not develop additional proprietary technologies that are patentable.

As a result, our owned and licensed patents may not be valid and we may not be able to obtain and enforce patents and to maintain trade secret protection for the full commercial extent of our technology. The extent to which we are unable to do so could materially harm our business.

We have applied for and expect to continue to apply for patents for certain products. Such applications may not result in the issuance of any patents, and any patents now held or that may be issued may not provide us with adequate protection from competition. Furthermore, it is possible that patents issued or licensed to us may be challenged successfully. In that event, if we have a preferred competitive position because of such patents, such preferred position would be lost. If we are unable to secure or to continue to maintain a preferred position, we could become subject to competition from the sale of generic products. Failure to receive, inability to protect, or expiration of our patents would adversely affect our business and operations.

Patents issued or licensed to us may be infringed by the products or processes of others. The cost of enforcing our patent rights against infringers, if such enforcement is required, could be significant, and we do not currently have the financial resources to fund such litigation. Further, such litigation can go on for years and the time demands could interfere with our normal operations. We may become a party to patent litigation and other proceedings. The cost to us of any patent litigation, even if resolved in our favor, could be substantial. Many of our competitors may be able to sustain the costs of such litigation more effectively than we can because of their substantially greater financial resources. Litigation may also absorb significant management time.

Unpatented trade secrets, improvements, confidential know-how and continuing technological innovation are important to our scientific and commercial success. Although we attempt to and plan to continue to attempt to protect our proprietary information through reliance on trade secret laws and the use of confidentiality agreements with our partners, collaborators, employees and consultants, as well as through other appropriate means, these measures may not effectively prevent disclosure of our proprietary information, and, in any event, others may develop independently, or obtain access to, the same or similar information.

International intellectual property protection is particularly uncertain, and if we are involved in opposition proceedings in foreign countries, we may have to expend substantial sums and management resources.

Patent and other intellectual property law outside the United States is more uncertain and is continually undergoing review and revisions in many countries. Further, the laws of some foreign countries may not protect intellectual property rights to the same extent as the laws of the United States. For example, certain countries do not grant patent claims that are directed to business methods and processes. In addition, we may have to participate in opposition proceedings to determine the validity of its foreign patents or its competitors’ foreign patents, which could result in substantial costs and diversion of its efforts and loss of credibility with customers.

If we are found to be infringing on patents or trade secrets owned by others, we may be forced to cease or alter our product development efforts, obtain a license to continue the development or sale of our products, and/or pay damages.

Our processes and potential products may violate proprietary rights of patents that have been or may be granted to competitors, universities or others, or the trade secrets of those persons and entities. As our industry expands and more patents are issued, the risk increases that our processes and potential products may give rise to claims that they infringe the patents or trade secrets of others. These other persons could bring legal actions against us claiming damages and seeking to enjoin manufacturing and marketing of the affected product or process. If any of these actions are successful, in addition to any potential liability for damages, we could be required to obtain a license in order to continue to manufacture or market the affected product or use the affected process. Required licenses may not be available on acceptable terms, if at all, and the results of litigation are uncertain. If we become involved in litigation or other proceedings, it could consume a substantial portion of our financial resources and the efforts of our personnel.

We rely on confidentiality agreements to protect our trade secrets. If these agreements are breached by our employees or other parties, our trade secrets may become known to our competitors.

We rely on trade secrets that we seek to protect through confidentiality agreements with our employees and other parties. If these agreements are breached, our competitors may obtain and use our trade secrets to gain a competitive advantage over us. We may not have any remedies against our competitors and any remedies that may be available to us may not be adequate to protect our business or compensate us for the damaging disclosure. In addition, we may have to expend resources to protect our interests from possible infringement by others.

We have a limited operating history on which to judge our business prospects and management.

Our company was incorporated and commenced operations in 2017. Accordingly, we have only a limited operating history upon which to base an evaluation of our business and prospects. Operating results for future periods are subject to numerous uncertainties and we cannot assure you that we will achieve or sustain profitability. Our prospects must be considered in light of the risks encountered by companies in the early stage of development, particularly companies in new and rapidly evolving markets. Future operating results are expected to depend upon many factors, including increasing the number of affiliates, our success in attracting and retaining motivated and qualified personnel, our ability to establish short term credit lines, our ability to develop and market new products, control costs, and general economic conditions. We cannot assure you that we will successfully address any of these risks.

We may not be able to continue as a going concern.

The Company has incurred substantial operating losses since its inception, expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. As reflected in the financial statements, the Company had an accumulated deficit of approximately $23.2 million at March 31, 2022, a net loss of approximately $3.3 million, and approximately $2.9 million of net cash used in operating activities for the three months ended March 31, 2022. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. The Company anticipates incurring additional losses until such time, if ever, that it can obtain marketing approval to sell, and then generate significant sales, of its technology that is currently in development. As such it is likely that additional financing may be needed by the Company to fund its operations and to develop and commercialize its technology. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company is seeking additional financing to support its growth plans. The sale of additional equity may dilute existing shareholders and newly issued shares may contain senior rights and preferences compared to currently outstanding common shares.

Our management team has limited experience managing a public company, and regulatory compliance may divert our attention from the day-to-day management of our business.

Our management team has limited experience managing a publicly-traded company and limited experience complying with the increasingly complex laws pertaining to public companies. These obligations typically require substantial attention from our senior management and could divert our attention away from the day-to-day management of our business.

The Company may become subject to litigation, which may have a material adverse effect on the Company’s reputation, business, results from operations, and financial condition.

The Company may be named as a defendant in a lawsuit or regulatory action. The Company may also incur uninsured losses for liabilities which arise in the ordinary course of business, or which are unforeseen, including, but not limited to, employment liability and business loss claims. Any such losses could have a material adverse effect on the Company’s business, results of operations, sales, cash flow or financial condition.

If the Company is unable to attract and retain key personnel, it may not be able to compete effectively.

The Company’s success has depended and continues to depend upon its ability to attract and retain key management, including the Company’s Chief Executive Officer and technical experts. The Company will attempt to enhance its management and technical expertise by continuing to recruit qualified individuals who possess desired skills and experience in certain targeted areas. The Company’s inability to retain employees and attract and retain sufficient additional employees or engineering and technical support resources could have a material adverse effect on the Company’s business, results of operations, sales, cash flow or financial condition. Shortages in qualified personnel or the loss of key personnel could adversely affect the financial condition of the Company, results of operations of the business and could limit the Company’s ability to develop and market its intellectual property. The loss of any of the Company’s senior management or key employees could materially adversely affect the Company’s ability to execute the Company’s business plan and strategy, and the Company may not be able to find adequate replacements on a timely basis, or at all. The Company does not maintain key person life insurance policies on any of the Company’s employees.

The size of the Company’s initial target market is difficult to quantify and investors will be reliant on their own estimates on the accuracy of market data.

Because high growth crop technology is in an early stage with uncertain boundaries, there is a lack of information about comparable companies available for potential investors to review in deciding about whether to invest in the Company and, few, if any, established companies whose business model the Company can follow or upon whose success the Company can build. Accordingly, investors have to rely on their own estimates in deciding about whether to invest in the Company. There can be no assurance that the Company’s estimates are accurate or that the market size is sufficiently large for its business to grow as projected, which may negatively impact its financial results. The Company regularly follows market research.

The Company’s industry is experiencing rapid growth and consolidation that may cause the Company to lose key relationships and intensify competition.

The agriculture industry and various verticals within it are undergoing rapid growth and substantial change, which has resulted in an increase in competitors, consolidation and formation of strategic relationships. Acquisitions or other consolidating transactions could harm the Company in a number of ways, including by losing strategic partners and or customers if they are acquired by or enter into relationships with a competitor, losing customers, revenue and market share, or forcing the Company to expend greater resources to meet new or additional competitive threats, all of which could harm the Company’s operating results. As competitors enter the market and become increasingly sophisticated, competition in the Company’s industry may intensify which could negatively impact its profitability.

The Company will be reliant on information technology systems and may be subject to damaging cyberattacks.

The Company’s operations depend, in part, on how well it and its suppliers protect networks, equipment, information technology systems and software against damage from a number of threats, including, but not limited to, cable cuts, damage to physical plants, natural disasters, intentional damage and destruction, fire, power loss, hacking, computer viruses, vandalism and theft. The Company’s operations also depend on the timely maintenance, upgrade and replacement of networks, equipment, IT systems and software, as well as pre-emptive expenses to mitigate the risks of failures. Any of these and other events could result in information system failures, delays and/or increase in capital expenses. The failure of information systems or a component of information systems could, depending on the nature of any such failure, adversely impact the Company’s reputation and results of operations.

The Company has not experienced any material losses to date relating to cyber-attacks or other information security breaches, but there can be no assurance that the Company will not incur such losses in the future. The Company’s risk and exposure to these matters cannot be fully mitigated because of, among other things, the evolving nature of these threats. As a result, cyber security and the continued development and enhancement of controls, processes and practices designed to protect systems, computers, software, data and networks from attack, damage or unauthorized access is a priority. As cyber threats continue to evolve, the Company may be required to expend additional resources to continue to modify or enhance protective measures or to investigate and remediate any security vulnerabilities.

The Company’s officers and directors may be engaged in a range of business activities resulting in conflicts of interest.

Although certain officers and board members of the Company are expected to be bound by anti-circumvention agreements limiting their ability to enter into competing and/or conflicting ventures or businesses, the Company may be subject to various potential conflicts of interest because some of its officers and directors may be engaged in a range of business activities. In addition, the Company’s executive officers and directors may devote time to their outside business interests, so long as such activities do not materially or adversely interfere with their duties to the Company. In some cases, the Company’s executive officers and directors may have fiduciary obligations associated with these business interests that interfere with their ability to devote time to the Company’s business and affairs and that could adversely affect the Company’s operations. These business interests could require significant time and attention of the Company’s executive officers and directors.

In addition, the Company may also become involved in other transactions which conflict with the interests of its directors and the officers who may from time to time deal with persons, firms, institutions or companies with which the Company may be dealing, or which may be seeking investments similar to those desired by it. The interests of these persons could conflict with those of the Company. In addition, from time to time, these persons may be competing with the Company for available investment opportunities. Conflicts of interest, if any, may be subject to the procedures and remedies provided under applicable laws. In particular, if such a conflict of interest arises at a meeting of the Company’s directors, a director who has such a conflict will abstain from voting for or against the approval of such participation or such terms. In accordance with applicable laws, the directors of the Company are required to act honestly, in good faith and in the best interests of the Company.

There is no guarantee that how the Company uses its available funds will yield the expected results or returns which could impact the business and financial condition of the Company.

The Company cannot specify with certainty the particular uses of available funds. Management has broad discretion in the application of its proceeds. Accordingly, a holder of Shares will have to rely upon the judgment of management with respect to the use of available funds, with only limited information concerning management’s specific intentions. The Company’s management may spend a portion or all of the available funds in ways that the Company’s shareholders might not desire, that might not yield a favorable return and that might not increase the value of a purchaser’s investment. The failure by management to apply these funds effectively could harm the Company’s business. Pending use of such funds, the Company might invest the available funds in a manner that does not produce income or that loses value.

Our Articles of incorporation, by-laws and certain Canadian legislation, contain provisions that may have the effect of delaying or preventing a change in control.

Certain provisions of our by-laws, together or separately, could discourage potential acquisition proposals, delay or prevent a change in control and limit the price that certain investors may be willing to pay for our common shares. For instance, our by-laws, to be effective upon the completion of this offering, contain provisions that establish certain advance notice procedures for nomination of candidates for election as directors at shareholders’ meetings.

The Investment Canada Act requires any person that is non-Canadian (as defined in the Investment Canada Act) who acquires “control” (as defined in the Investment Canada Act) of an existing Canadian business to file either a pre-closing application for review or notification with Innovation, Science and Economic Development Canada. An acquisition of control is a reviewable transaction where prescribed financial thresholds are exceeded. The Investment Canada Act generally prohibits the implementation of a reviewable transaction unless, after review, the relevant Minister is satisfied that the acquisition is likely to be of net benefit to Canada. Under the national security regime in the Investment Canada Act, the federal government may undertake a discretionary review of a broader range of investments by a non-Canadian to determine whether such an investment by a non-Canadian could be “injurious to national security.” Review on national security grounds is at the discretion of the federal government and may occur on a pre- or post-closing basis.

Furthermore, limitations on the ability to acquire and hold our common shares may be imposed by the Competition Act (Canada). This legislation permits the Commissioner of Competition to review any acquisition or establishment, directly or indirectly, including through the acquisition of shares, of control over or of a significant interest in us. This legislation grants the Commissioner of Competition jurisdiction, for up to one year, to challenge this type of acquisition before the Canadian Competition Tribunal on the basis that it would, or would be likely to, substantially prevent or lessen competition. This legislation also requires any person who intends to acquire our common shares to file a notification with the Canadian Competition Bureau if (i) that person (and their affiliates) would hold, in the aggregate, more than 20% of all of our outstanding voting shares, (ii) certain financial thresholds are exceeded, and (iii) no exemption applies. Where a person (and their affiliates) already holds, in the aggregate, more than 20% of all of our outstanding voting shares, a notification must be filed if (i) the acquisition of additional shares would bring that person’s (and their affiliates) holdings to over 50%, (ii) certain financial thresholds are exceeded and (iii) no exemption applies. Where a notification is required, the legislation prohibits completion of the acquisition until the expiration of the applicable statutory waiting period, unless compliance with the waiting period has been waived or the Commissioner of Competition provides written notice that he does not intend to challenge the acquisition. The Commissioner of Competition’s review of a notifiable transaction for substantive competition law considerations may take longer than the statutory waiting period.

We are governed by the corporate laws of British Columbia, Canada which in some cases have a different effect on shareholders than the corporate laws of the United States.

We are incorporated under the Business Corporations Act (British Columbia) and other relevant laws, which may affect the rights of shareholders differently than those of a company governed by the laws of a U.S. jurisdiction, and may, together with our charter documents, have the effect of delaying, deferring or discouraging another party from acquiring control of our company by means of a tender offer, a proxy contest or otherwise, or may affect the price an acquiring party would be willing to offer in such an instance. The material differences between the Business Corporations Act (British Columbia) and Delaware General Corporation Law, or DGCL, that may have the greatest such effect include, but are not limited to, the following: (i) for certain corporate transactions (such as mergers and amalgamations or amendments to our articles) the Business Corporations Act (British Columbia) generally requires the voting threshold to be a special resolution approved by 66 2/3% of shareholders, or as set out in the articles, as applicable, whereas DGCL generally only requires a majority vote; and (ii) under the Business Corporations Act (British Columbia) a holder of 5% or more of our common shares can requisition a special meeting of shareholders, whereas such right does not exist under the DGCL. We cannot predict whether investors will find our company and our common shares less attractive because we are governed by foreign laws.

Risks Related to the Ownership of Our Common Shares

New laws, regulations, and standards relating to corporate governance and public disclosure may create uncertainty for public companies, increasing legal and financial compliance costs and making some activities more time consuming.

These laws, regulations and standards are subject to varying interpretations, in many cases due to their lack of specificity, and, as a result, may evolve over time as new guidance is provided by the courts and other bodies. This could result in continuing uncertainty regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices. If our efforts to comply with new laws, regulations, and standards differ from the activities intended by regulatory or governing bodies due to ambiguities related to their application and practice, regulatory authorities may initiate legal proceedings against us and our business may be adversely affected.

As a public company subject to these rules and regulations, we may find it more expensive for us to obtain director and officer liability insurance, and we may be required to accept reduced coverage or incur substantially higher costs to obtain coverage. These factors could also make it more difficult for us to attract and retain qualified members of our Board of Directors, particularly to serve on its audit committee and compensation committee, and qualified executive officers.

The market price of our common shares and Series A Warrants may be volatile, and you may not be able to resell your common shares and Series A Warrants at or above the initial public offering price.

The market price for our common shares and Series A Warrants may be volatile and subject to wide fluctuations in response to factors including the following:

In addition, if we fail to reach an important research, development or commercialization milestone or result by a publicly expected deadline, even if by only a small margin, there could be significant impact on the market price of our common shares. Additionally, as we approach the announcement of anticipated significant information and as we announce such information, we expect the price of our common shares to be particularly volatile and negative results would have a substantial negative impact on the price of our common shares and Series A Warrants.

In addition, in recent years, the stock market in general has experienced extreme price and volume fluctuations. This volatility has had a significant effect on the market price of securities issued by many companies, including for reasons unrelated to their operating performance. These broad market fluctuations may adversely affect our stock price, notwithstanding our operating results. The market price of our common shares and Series A Warrants will fluctuate and there can be no assurances about the levels of the market prices for our common shares and Series A Warrants.

In some cases, following periods of volatility in the market price of a company’s securities, shareholders have often instituted class action securities litigation against those companies. Such litigation, if instituted, could result in substantial costs and diversion of management attention and resources, which could significantly harm our business operations and reputation.

As an “emerging growth company” under applicable law, we will be subject to lessened disclosure requirements, which could leave our shareholders without information or rights available to shareholders of more mature companies.

For as long as we remain an “emerging growth company” as defined in the JOBS Act, we have elected to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not “emerging growth companies” including, but not limited to:

We expect to take advantage of these reporting exemptions until we are no longer an “emerging growth company.” Because of these lessened regulatory requirements, our shareholders would be left without information or rights available to shareholders of more mature companies. We cannot predict whether investors will find our common shares less attractive if we rely on these exemptions. If some investors find our common shares less attractive as a result, there may be a less active trading market for our common shares and our stock price may be more volatile.

We are also a “smaller reporting company” as defined in Rule 12b-2 of the Exchange Act and have elected to follow certain scaled disclosure requirements available to smaller reporting companies.

Because we have elected to use the extended transition period for complying with new or revised accounting standards for an “emerging growth company” our financial statements may not be comparable to companies that comply with public company effective dates.

We have elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(1) of the JOBS Act. This election allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies until those standards apply to private companies. As a result of this election, our financial statements may not be comparable to companies that comply with public company effective dates and may contain less or more modified disclosure than those public companies. Because our financial statements may not be comparable to companies that comply with public company effective dates, investors may have difficulty evaluating or comparing our business, performance or prospects in comparison to other public companies, which may have a negative impact on the value and liquidity of our common shares.

FINRA sales practice requirements may also limit your ability to buy and sell our common shares, which could depress the price of our shares.

Financial Industry Regulatory Authority, Inc. (FINRA) rules require broker-dealers to have reasonable grounds for believing that an investment is suitable for a customer before recommending that investment to the customer. Prior to recommending speculative low-priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer’s financial status, tax status and investment objectives, among other things. Under interpretations of these rules, FINRA believes that there is a high probability such speculative low-priced securities will not be suitable for at least some customers. Thus, FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy our common shares, which may limit your ability to buy and sell our shares, have an adverse effect on the market for our shares, and thereby depress our share price.

If research analysts do not publish research about our business or if they issue unfavorable commentary or downgrade our common shares or Series A Warrants, our securities’ price and trading volume could decline.

The trading market for our securities may depend in part on the research and reports that research analysts publish about us and our business. If we do not maintain adequate research coverage, or if any of the analysts who cover us downgrade our stock or publish inaccurate or unfavorable research about our business, the price of our common shares and Series A Warrants could decline. If one or more of our research analysts ceases to cover our business or fails to publish reports on us regularly, demand for our securities could decrease, which could cause the price of our common shares and Series A Warrants or trading volume to decline.

We may issue additional equity securities, or engage in other transactions that could dilute our book value or relative rights of our common shares, which may adversely affect the market price of our common shares and Series A Warrants.

Our Board of Directors may determine from time to time that it needs to raise additional capital by issuing additional shares of our common shares or other securities. Except as otherwise described in this filing, we will not be restricted from issuing additional common shares, including securities that are convertible into or exchangeable for, or that represent the right to receive, shares of our common shares. Because our decision to issue securities in any future offering may depend on market conditions and other factors beyond our control, we cannot predict or estimate the amount, timing, or nature of any future offerings, or the prices at which such offerings may be affected. Additional equity offerings may dilute the holdings of existing shareholders or reduce the market price of our common shares and Series A Warrants, or all of them. Holders of our securities are not entitled to pre-emptive rights or other protections against dilution. New investors also may have rights, preferences and privileges that are senior to, and that adversely affect, then-current holders of our securities. Additionally, if we raise additional capital by making offerings of debt or preference shares, upon our liquidation, holders of our debt securities and preference shares, and lenders with respect to other borrowings, may receive distributions of its available assets before the holders of our common shares.

An investment in our Series A Warrants is speculative in nature and could result in a loss of your investment therein.

The Series A Warrants offered in this offering do not confer any rights of common share ownership on their holders, such as voting rights or the right to receive dividends, but rather merely represent the right to acquire shares of our common shares at a fixed price for a limited period of time. Specifically, commencing on the date of issuance, holders of the Series A Warrants may exercise their right to acquire the common shares and pay an exercise price of $6.00 per share (120% of the public offering price of our common shares and Series A Warrants in this offering), prior to three years from the date of issuance, after which date any unexercised Series A Warrants will expire and have no further value. Moreover, following this offering, the market value of the Series A Warrants is uncertain and there can be no assurance that the market value of the Series A Warrants will equal or exceed their public offering price. There can be no assurance that the market price of the common shares will ever equal or exceed the exercise price of the Series A Warrants, and consequently, whether it will ever be profitable for holders of the Series A Warrants to exercise the Series A Warrants.

Our Series A Warrants and contain a provision which only permits securities claims to be brought in federal court.

Section 11 of our Series A Warrants states in relevant part: “The Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan (except for claims brought under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, which must be brought in federal court)”. Therefore any claims with respect to our Series A Warrants brought under the Securities Act of 1933 or the Securities Exchange Act must be brought in federal court while all other claims may be brought in federal or state court. Proceedings in federal court may be more expensive than in state court due to more comprehensive rules on how discovery and motion and trial practice are handled. This provision may have a dampening effect on claims brought under these securities laws or limit the ability of the investor to bring a claim in the jurisdiction it deems more favorable. This provision is likely enforceable as requirements regarding bringing securities claims have been met, but it may have the overall effect of discouraging litigation due to the circumstances described herein.

We do not currently intend to pay dividends on our common shares in the foreseeable future, and consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common shares.

We have never declared or paid cash dividends on our common shares and do not anticipate paying any cash dividends to holders of our common shares in the foreseeable future. Consequently, investors must rely on sales of their common shares after price appreciation, which may never occur, as the only way to realize any future gains on their investments. There is no guarantee that our common shares will appreciate in value or even maintain the price at which our shareholders have purchased their shares.

Risks related to this offering

Future sales or other issuances of our common stock could depress the market for our common stock.

Sales of a substantial number of shares of our common stock, or the perception by the market that those sales could occur, whether through this offering or other offerings of our securities, could cause the market price of our common stock to decline or could make it more difficult for us to raise funds through the sale of equity in the future.

Our stock price can be volatile, which increases the risk of litigation, and may result in a significant decline in the value of your investment.

The trading price of our common stock has historically been, and is likely to continue to be, highly volatile and subject to wide fluctuations in price in response to various factors, many of which are beyond our control and may not be related to our operating performance. These fluctuations could cause you to lose part or all of your investment in our common stock. These factors include, but are not limited to, the following:

These broad market and industry factors may materially affect the market price of our common stock, regardless of our development and operating performance. In the past, following periods of volatility in the market price of a company’s securities, securities class-action litigation has often been instituted against that company. Due to the volatility of our stock price, we are currently and may be the target of securities litigation in the future. Securities litigation could result in substantial costs and divert management’s attention in the future attention and resources from our business.

RATIO OF EARNINGS TO FIXED CHARGES

If we offer debt securities and/or preference equity securities under this prospectus, we will, if required at that time, provide a ratio of earnings to fixed charges and/or ratio of earnings to combined fixed charges and preference dividends to earnings, respectively, in the applicable prospectus supplement for such offering.

USE OF PROCEEDS

Unless otherwise indicated in a prospectus supplement, We intend to use to use a substantial portion of the net proceeds to redeem our July 2022 debentures. The remaining proceeds will be used for general corporate purposes. We will set forth in a prospectus supplement relating to a specific offering any intended use for the net proceeds received from the sale of securities in that offering. We have significant discretion in the use of any net proceeds. Investors will be relying on the judgment of our management regarding the application of the proceeds of any sale of securities. We may invest the net proceeds temporarily until we use them for their stated purpose, as applicable.

DESCRIPTION OF COMMON SHARES

General

We are authorized to issue an unlimited number of common shares, at no par value per share. As of August 9, 2022, we have 15,555,118 shares of our common stock issued and outstanding.

Holders of the Company’s common stock are entitled to one vote for each share on all matters submitted to a stockholder vote. Holders of common stock do not have cumulative voting rights. Therefore, holders of a majority of the shares of common stock voting for the election of directors can elect all of the directors. Holders of the Company’s common stock representing a third of the voting power of the Company’s capital stock issued, outstanding and entitled to vote, represented in person or by proxy, are necessary to constitute a quorum at any meeting of stockholders. A vote by the holders of a majority of the Company’s outstanding shares is required to effectuate certain fundamental corporate changes such as liquidation, merger or an amendment to the Company’s certificate of incorporation.

Holders of the Company’s common stock are entitled to share in all dividends that the board of directors, in its discretion, declares from legally available funds. In the event of a liquidation, dissolution or winding up, each outstanding share entitles its holder to participate pro rata in all assets that remain after payment of liabilities and after providing for each class of stock, if any, having preference over the common stock. The Company’s common stock has no pre-emptive rights, no conversion rights and there are no redemption provisions applicable to the Company’s common stock.

Transfer Agent and Registrar

The transfer agent and registrar for our common stock is VStock Transfer, Woodmere, NY.

Listing

Our common stock is currently traded on the Nasdaq Capital Market under the symbol “AGRI.”

DESCRIPTION OF PREFERRED STOCK

General

The Company’s articles of incorporation authorize the issuance of an unlimited number of shares of “blank check” preferred stock, no par value per share, in one or more series, of which no shares were outstanding as of March 31, 2022, subject to any limitations prescribed by law, without further vote or action by the stockholders. Each such series of preferred stock shall have such number of shares, designations, preferences, voting powers, qualifications, and special or relative rights or privileges as shall be determined by our board of directors, which may include, among others, dividend rights, voting rights, liquidation preferences, conversion rights and preemptive rights.

Preferred stock is available for possible future financings or acquisitions and for general corporate purposes without further authorization of stockholders unless such authorization is required by applicable law, the rules of the Nasdaq Capital Market or other securities exchange or market on which our stock is then listed or admitted to trading.

Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of common stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes could, under some circumstances, have the effect of delaying, deferring or preventing a change in control of the Company.

A prospectus supplement relating to any series of preferred stock being offered will include specific terms relating to the offering. Such prospectus supplement will include:

The terms, if any, on which the preferred stock may be convertible into or exchangeable for our common stock will also be stated in the preferred stock prospectus supplement. The terms will include provisions as to whether conversion or exchange is mandatory, at the option of the holder or at our option, and may include provisions pursuant to which the number of shares of our common stock to be received by the holders of preferred stock would be subject to adjustment.

DESCRIPTION OF WARRANTS

We may issue warrants for the purchase of preferred stock or common stock. Warrants may be issued independently or together with any preferred stock or common stock, and may be attached to or separate from any offered securities. Each series of warrants will be issued under a separate warrant agreement to be entered into between a warrant agent specified in the agreement and us. The warrant agent will act solely as our agent in connection with the warrants of that series and will not assume any obligation or relationship of agency or trust for or with any holders or beneficial owners of warrants. This summary of some provisions of the securities warrants is not complete. You should refer to the securities warrant agreement, including the forms of securities warrant certificate representing the securities warrants, relating to the specific securities warrants being offered for the complete terms of the securities warrant agreement and the securities warrants. The securities warrant agreement, together with the terms of the securities warrant certificate and securities warrants, will be filed with the Securities and Exchange Commission in connection with the offering of the specific warrants.

The applicable prospectus supplement will describe the following terms, where applicable, of the warrants in respect of which this prospectus is being delivered:

Warrants for the purchase of common stock or preferred stock will be offered and exercisable for U.S. dollars only. Warrants will be issued in registered form only.

Upon receipt of payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement, we will, as soon as practicable, forward the purchased securities. If less than all of the warrants represented by the warrant certificate are exercised, a new warrant certificate will be issued for the remaining warrants.

Prior to the exercise of any securities warrants to purchase preferred stock or common stock, holders of the warrants will not have any of the rights of holders of the common stock or preferred stock purchasable upon exercise, including in the case of securities warrants for the purchase of common stock or preferred stock, the right to vote or to receive any payments of dividends on the preferred stock or common stock purchasable upon exercise.

DESCRIPTION OF UNITS

As specified in the applicable prospectus supplement, we may issue units consisting of shares of common stock, shares of preferred stock or warrants or any combination of such securities.

The applicable prospectus supplement will specify the following terms of any units in respect of which this prospectus is being delivered:

PLAN OF DISTRIBUTION

We may sell the securities offered through this prospectus (i) to or through underwriters or dealers, (ii) directly to purchasers, including our affiliates, (iii) through agents, (iv) via so called “at-the-market” or “ATM” offerings, or (v) through a combination of any of these methods. The securities may be distributed at a fixed price or prices, which may be changed, market prices prevailing at the time of sale, prices related to the prevailing market prices, or negotiated prices. The prospectus supplement will include the following information:

Agents, underwriters, and dealers may be entitled, under agreements entered into with us, to indemnification by us against certain liabilities, including liabilities under the Securities Act. Our agents, underwriters, and dealers, or their affiliates, may be customers of, engage in transactions with or perform services for us, in the ordinary course of business.

Sale through Underwriters or Dealers

Only underwriters named in the prospectus supplement are underwriters of the securities offered by the prospectus supplement.

If underwriters are used in the sale, the underwriters will acquire the securities for their own account, including through underwriting, purchase, security lending or repurchase agreements with us. The underwriters may resell the securities from time to time in one or more transactions, including negotiated transactions. Underwriters may sell the securities in order to facilitate transactions in any of our other securities (described in this prospectus or otherwise), including other public or private transactions and short sales. Underwriters may offer securities to the public either through underwriting syndicates represented by one or more managing underwriters or directly by one or more firms acting as underwriters. Unless otherwise indicated in the prospectus supplement, the obligations of the underwriters to purchase the securities will be subject to certain conditions, and the underwriters will be obligated to purchase all the offered securities if they purchase any of them. The underwriters may change from time to time any initial public offering price and any discounts or concessions allowed or reallowed or paid to dealers.

If dealers are used in the sale of securities offered through this prospectus, we will sell the securities to them as principals. They may then resell those securities to the public at varying prices determined by the dealers at the time of resale. The prospectus supplement will include the names of the dealers and the terms of the transaction.

Direct Sales and Sales through Agents

We may sell the securities offered through this prospectus directly. In this case, no underwriters or agents would be involved. Such securities may also be sold through agents designated from time to time. The prospectus supplement will name any agent involved in the offer or sale of the offered securities and will describe any commissions payable to the agent. Unless otherwise indicated in the prospectus supplement, any agent will agree to use its reasonable best efforts to solicit purchases for the period of its appointment.

We may sell the securities directly to institutional investors or others who may be deemed to be underwriters within the meaning of the Securities Act with respect to any sale of those securities. The terms of any such sales will be described in the prospectus supplement.

Delayed Delivery Contracts

If the prospectus supplement indicates, we may authorize agents, underwriters or dealers to solicit offers from certain types of institutions to purchase securities at the public offering price under delayed delivery contracts. These contracts would provide for payment and delivery on a specified date in the future. The contracts would be subject only to those conditions described in the prospectus supplement. The applicable prospectus supplement will describe the commission payable for solicitation of those contracts.

Continuous Offering Program

Without limiting the generality of the foregoing, we may enter into a continuous offering program equity distribution agreement with a broker-dealer, under which we may offer and sell shares of our common stock from time to time through a broker-dealer as our sales agent. If we enter into such a program, sales of the shares of common stock, if any, will be made by means of ordinary brokers’ transactions on the Nasdaq Capital Market at market prices, block transactions and such other transactions as agreed upon by us and the broker-dealer. Under the terms of such a program, we also may sell shares of common stock to the broker-dealer, as principal for its own account at a price agreed upon at the time of sale. If we sell shares of common stock to such broker-dealer as principal, we will enter into a separate agreement with such broker-dealer, and we will describe this agreement in a separate prospectus supplement or pricing supplement.

Market Making, Stabilization and Other Transactions

Unless the applicable prospectus supplement states otherwise, other than our common stock all securities we offer under this prospectus will be a new issue and will have no established trading market. We may elect to list offered securities on an exchange or in the over-the-counter market. Any underwriters that we use in the sale of offered securities may make a market in such securities, but may discontinue such market making at any time without notice. Therefore, we cannot assure you that the securities will have a liquid trading market.

Any underwriter may also engage in stabilizing transactions, syndicate covering transactions and penalty bids in accordance with Rule 104 under the Exchange Act. Stabilizing transactions involve bids to purchase the underlying security in the open market for the purpose of pegging, fixing or maintaining the price of the securities. Syndicate covering transactions involve purchases of the securities in the open market after the distribution has been completed in order to cover syndicate short positions.

Penalty bids permit the underwriters to reclaim a selling concession from a syndicate member when the securities originally sold by the syndicate member are purchased in a syndicate covering transaction to cover syndicate short positions. Stabilizing transactions, syndicate covering transactions and penalty bids may cause the price of the securities to be higher than it would be in the absence of the transactions. The underwriters may, if they commence these transactions, discontinue them at any time.

LEGAL MATTERS

The validity of the issuance of the securities offered by this prospectus will be passed upon for us by Jolie Kahn, Esq. of New York, NY. If certain legal matters in connection with an offering of the securities covered by this prospectus and a related prospectus supplement are passed upon by counsel for the underwriters, if any, of such offering, that counsel will be named in the related prospectus supplement for such offering.

EXPERTS

The consolidated balance sheets of AgriForce Growing Systems Ltd. as of December 31, 2021 and December 31, 2020, and the related consolidated statements of operations stockholders’ equity, and cash flows for the years then ended have been audited by Marcum LLP, as stated in their report, which is incorporated herein by reference. Such consolidated financial statements are incorporated herein by reference in reliance upon such report given on the authority of such firm as experts in accounting and auditing.

WHERE YOU CAN FIND MORE INFORMATION

We file annual, quarterly and special reports, along with other information with the SEC. Our SEC filings are available to the public over the Internet at the SEC’s website at http://www.sec.gov. Our SEC filings are also available on our website, https://www.agriforcegs.com under the heading “Investors.” The information on this website is expressly not incorporated by reference into, and does not constitute a part of, this prospectus.

This prospectus is part of a registration statement on Form S-3 that we filed with the SEC to register the securities offered hereby under the Securities Act of 1933, as amended. This prospectus does not contain all of the information included in the registration statement, including certain exhibits and schedules. You may obtain the registration statement and exhibits to the registration statement from the SEC at the address listed above or from the SEC’s internet site.

INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

This prospectus is part of a registration statement filed with the SEC. The SEC allows us to “incorporate by reference” into this prospectus the information that we file with them, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this prospectus, and information that we file later with the SEC will automatically update and supersede this information. The following documents are incorporated by reference and made a part of this prospectus:

We also incorporate by reference all additional documents that we file with the Securities and Exchange Commission under the terms of Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act that are made after the date of the initial registration statement but prior to effectiveness of the registration statement and after the date of this prospectus but prior to the termination of the offering of the securities covered by this prospectus. We are not, however, incorporating, in each case, any documents or information that we are deemed to furnish and not file in accordance with Securities and Exchange Commission rules.

You may request, and we will provide you with, a copy of these filings, at no cost, by calling us at (604) 757-0952 or by writing to us at the following address:

$800,000

AGRIFORCE GROWING SYSTEMS, LTD.

Common Stock

PROSPECTUS SUPPLEMENT

October 15, 2024