Agrinam Acquisition Corporation (TSX: AGRI.U) (the "Corporation") and Freight Farms, Inc. ("Freight Farms") today announced that they have mutually agreed to terminate the previously announced business combination agreement dated October 4, 2023, as amended on March 14, 2024, March 19, 2024, June 28, 2024, July 15, 2024, July 18, 2024 and July 19, 2024 (the "Business Combination Agreement") which was entered into in connection with the Corporation's proposed business combination transaction with Freight Farms.

Growcer, a vertical, Canadian farming company established in 2015, enables anyone to grow fresh, hyper-local produce year-round using its hydroponic modular farms and proprietary technology.

The company aims to make Barbados a regional Agri-tech hub by establishing a manufacturing facility and multiple farms, with an initial investment of $1.5 million to develop five farms, eventually scaling up to a $30-million investment.

Pursuant to the Third Amending Agreement, Agrinam, Merger Sub and Freight Farms have agreed to extend the date by which Freight Farms may provide notice to terminate the Business Combination from June 28, 2024 to July 15, 2024.

Growcer develops vertical farms in modular containers to help combat food insecurity in challenging climates. Growcer said it has over 80 farms across the country growing more than 10 million servings of leafy greens annually.