Seedo Issues Letter to Shareholders
TEL AVIV, Israel, July 29, 2019 /PRNewswire/ -- Seedo Corp. - "Seedo" (OTCQB: SEDO) - an agritech company providing the world's first fully automated and controlled indoor growing technologies for the "at-home" and commercial agriculture markets, today issued a letter to shareholders.
Dear Fellow Shareholders,
Zohar Levy, CEO & Chairman Seedo Corp.
Together, we are delivering the future of automated plant growing technologies, from seed to harvest, for both consumer and commercial use. By integrating artificial intelligence (AI), big data, robotics, and remote grow technologies, we are delivering on our vision and mission to improve agriculture for a growing world population. We thank our shareholders for being our partners in this mission.
Consumer side of the business:
We are continuing to deliver the Seedo fully automated home grow device to customers in North America and Europe. We are satisfied to share that consumer response has been overwhelmingly positive, with customers sharing their satisfaction on social media platforms, further driving consumer enthusiasm and demand. Seedo has also recently garnered highly favorable coverage in key media outlets including Forbes, Vice, Maxim, Herb, Green Entrepreneur, Business Insider, Bloomberg, and The Guardian.
In addition to selling the Seedo direct-to-consumer through our website, we are currently ramping up our marketing and distribution efforts in North America and Europe in order to further increase device sales. Specialty retailers are very interested in selling the Seedo both through their physical and online stores that serve the medical cannabis grow market. Additionally, we are progressing with a number of strategic big-box retailers in North America for more meaningful sales exposure.
We are currently evaluating the option to offer a leasing model for our future customers with a third-party who will provide a credit line. We believe that providing customers the choice to own or lease the product will significantly increase future sales. In order to meet higher sales volume, we have begun to ramp up monthly manufacturing of the device.
Commercial side of the business:
We have begun to manufacture our B2B Seedo Farm containers. We have developed two lines of containers, one specialized for medical cannabis and a new line uniquely designed for vegetables and herbs.
Seedo's technology enables licensed medical cannabis producers full control and automation of all plant growth parameters, thus allowing for more precise unified standardized yields suitable for the food, beverage and pharma industries. The containers provide a full turn-key solution and we are in the process of securing EU-GAP and EU-GMP certification to meet international standards. Seedo has already signed two agreements to establish medical cannabis farms at Kibbutz Dan and Moshav Brosh.
Seedo's new vegetable and herb commercial containers provides an incredible solution for industrial agriculture farmers in a variety of "at-risk" markets. Stackable containers afford dramatic savings in land-use, water consumption and human labor needs. Seedo Farm units can be installed anywhere, from rooftops in densely populated cities, to open space in deserts, growing a variety of organic vegetables and herbs, 24/7, independent of climate conditions. We were very pleased to qualify as a registered vendor for the United Nations Global Marketplace, and are working to establish a pilot program in countries suffering from extreme climates and pollution, thereby serving the growing global population with fresh produce all year round. Seedo's solution can be a market leader in vertical urban farming, enabling cost effective growth without harmful chemicals, with an extended shelf life, and with reduced logistics costs.
In our view, both the medical cannabis and the conventional agriculture sectors are primed for substantial transformations in the coming years due to a variety of environmental and logistical challenges worldwide. Because these two sectors are characterized by different commercial markets, as well as different investor profiles in the capital markets, Seedo is evaluating the opportunity to split its business into two separate units, one that exclusively serves the medical cannabis market, and another focused solely on vegetable and herb agriculture. We will keep our shareholders informed about these developments.
As the world becomes increasingly more challenging to feed, we are going to change the way people grow and consume fresh produce. We will keep you updated on our progress.
Yours Sincerely,
Zohar Levy
CEO & Chairman
Seedo Corp.
About Seedo
Seedo is a market leading high-tech company providing the medical cannabis and agriculture industries with the world's first fully automated and controlled indoor growing machine. Seedo provides growers with the freedom to cut costs while generating high yields of lab-grade, pesticide-free herbs and vegetables. Seedo's AI-powered, turnkey systems enable anyone from average consumers to large-scale producers the ability to grow without prior experience or ample space. Seedo is a publicly traded company backed by a group of international investors including Cannabics Pharmaceuticals and is headquartered in Israel. For more information, visit http://www.seedo.com
Disclaimer:
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest Form 10-Q Report filed on May 15th, 2019. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Seedo Corp. which are condoned by the Company must emanate from the Company itself and bear our name as its source.
Contacts:
Seedo Corp.
+972-77-6149333
info@seedolab.com
http://www.seedolab.com