Vancouver, British Columbia--(Newsfile Corp. - April 12, 2022) - Sprout AI Inc. (CSE: BYFM) (OTCQB: BYFMF) ("Sprout AI" or the "Company"), a leading vertical farming technology company, announces that as of April 11th, 2022, Toni Rinow has accepted her nomination to the Board of Directors. The Board of Directors is currently comprised of three seats, one representative from sprout AI and two external representatives. The Company will be adding an additional candidate in the near future and may seek approval at the Annual General Meeting (AGM) to expand the Board of Directors to five members in total.
Dr. Rinow is exceptionally accomplished boasting an impressive business and educational background. She has achieved a Master of Business Administration (MBA) and a Graduate Degree in Accounting and Finance from McGill University. In addition, she also has a doctorate in Biophysics and Chemistry from the Université de Montréal (Ph.D), and a BSc in Chemical Engineering from the University of Strasbourg, France.
Dr. Rinow is AI Certified and has over 20 years of international finance and business leadership experience with organizations with up to $200 million in revenue. She most recently served as the Chief Financial Officer and Chief Operating Officer of Neptune Wellness. Previous to this position, she served as the Global General Manager of Jubilant DraxImage Inc., and prior to that was the Chief Financial & Operating Officer of Isologic Innovative Radiopharmaceuticals Ltd. To learn more about Toni Rinow and the experience she brings to Sprout AI, please visit: LinkedIn
Chris Bolton, Chairman, and CEO of Sprout AI notes, “We are thrilled to have Toni, an individual with such a diverse level of professional expertise, and proven adaptable problem solver, join our team. Her appointment to our Board of Directors represents a catalyst for strategic international expansion as she brings significant business and financial experience in growing businesses. This experience will be an invaluable asset to our organization as we capitalize on our numerous opportunities while building value for our shareholders.”
The Company also wishes to take this opportunity to announce the resignation of Kyle Horak, former Chief Operating Officer, from the Board of Directors. As of April 11th, Kyle graciously resigned from his seat enabling Dr. Rinow to assist our existing independent Board Member Tom Andrews in forming the necessary sub-committee in advance of our AGM this summer. The Company is currently evaluating candidates for the final seat and will be announcing the appointment of the successful nominee in the near future.
Chris Bolton said, "It has been a pleasure working with Kyle as the past COO and Board Member. I am grateful for his hard work and commitment to the success of Sprout. We wish him well."
For non-material updates and to learn more about Sprout AI and the vertical farming industry, please follow Sprout AI on:
About Sprout AI
Sprout AI is a vertical farming technology company in the business of planning, designing, manufacturing and/or assembling sustainable and scalable AI-controlled vertical cultivation equipment for indoor vertical farming. The adaptive technology produces an environment with improved growing parameters and early detection of adverse conditions, resulting in consistent and repeatable crops with shorter cultivation cycles independent of geographic climates.
The self-contained multilevel rolling rack technology increases the cubic cultivation area while mitigating the risk of outside and cross-contaminants.
For more information about Sprout AI, please visit https://www.sproutai.solutions.
Chief Executive Officer
Sprout AI Inc.
Phone: +011 (507) 6384-8734
Investor Relations Contact
Sprout AI Inc.
Tel: + 1 (289) 231-9026
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This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, with respect to the Company. The forward-looking information included in this news release is not based on historical facts but rather, on the expectations of the Company's management regarding the future growth of the Company, its results of operations, performance, business prospects and opportunities. This news release uses words such as "will," "expects," "anticipates," "intends," "plans," "believes," "estimates" or similar expressions to identify forward-looking information. Such forward-looking information reflects the current beliefs of the Company's management based on information currently available to them.
This forward-looking information includes, among other things, statements relating to: the order, intentions, plans and future actions of the Company; statements relating to the business and future activities of the Company; and anticipated developments in operations of the Company. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions, and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties.
Although the Company believes that the assumptions underlying these statements are reasonable, they
may prove to be incorrect, and there can be no assurance that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, prospective investors should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the expectations and predictions of the Company is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including: global or national health concerns, including the outbreak of pandemic or contagious diseases, such as COVID-19 and including the evolution of new variants of COVID-19, the duration and effect thereof and delays relating to vaccine development, procurement and distribution; risks relating to the effective management of the Company's growth; liabilities and risks, including environmental liabilities and risks associated with the Company's operations; the Company's ability to attract and retain customers; the competitive nature of the industries in which the Company operates; and the other risk factors described in the Company's final long form prospectus dated May 31, 2021.
If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking statements prove incorrect, actual results might vary materially from those anticipated in the forward-looking statements. Information contained in forward-looking statements in this news release is provided as of the date of this news release, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable Canadian securities laws. Accordingly, potential investors should not place undue reliance on forward-looking statements or the information contained in those statements.
All the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
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