Farmers Edge Inc. (“Farmers Edge” or the “Company”) (TSX: FDGE), a global leader in digital agriculture, today announced that an affiliate of Fairfax Financial Holdings Limited (“Fairfax”) entered into an agreement to acquire an additional 200,000 common shares in the capital of Farmers Edge on August 16, 2021. Fairfax, through several of its subsidiaries, is the majority shareholder of Farmers Edge.
“Fairfax feels the current market price of the Farmers Edge shares does not reflect the intrinsic value of the company and believes in its long-term strategy as a disruptor in the AgTech space,” says Prem Watsa, Chairman and Chief Executive Officer of Fairfax Financial Holdings Limited.
“Fairfax has been a great partner in supporting our vision to build the most comprehensive digital ecosystem in agriculture,” says Farmers Edge CEO and Founder Wade Barnes.
About Farmers Edge
Farmers Edge is leading the next agricultural revolution with the industry’s broadest portfolio of proprietary technological innovations, spanning hardware, software, and services. Powered by a unique combination of connected field sensors, artificial intelligence, big data analytics, and agronomic expertise, the company’s digital platform turns data into actions and intelligent insights, delivering value to all stakeholders of the agricultural ecosystem. Farmers Edge disruptive technologies accelerate digital transformation on the farm and beyond, protecting our global resources and ensuring sustainable food production for a rapidly growing population. For more information, please visit www.farmersedge.ca and SEDAR (www.sedar.com).
This press release may contain forward-looking information within the meaning of applicable securities legislation. Such information includes, but is not limited to, statements related to the Company’s anticipated results and future cost savings and its future business prospects, partnerships and opportunities, including the planned further expansion into the carbon credit market, and the anticipated benefits therefrom. Words such as “expect,”, “anticipate”, “intend,”, “may,”, “will”, “estimate” and variations of such words and similar expressions are intended to identify such forward-looking information. This information is based on the Company’s reasonable assumptions and beliefs in light of the information currently available to it and the statements are made as of the date of this press release. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such assumptions, risks and uncertainties include, but are not limited to, the factors discussed under “Forward-Looking Information” and “Risk Factors” in the Company’s Annual Information Form dated March 29, 2021 and under the “Risk Factors” section in the Company’s management discussion and analysis filed today, August 12, 2021, each of which are available on the Company’s website (www.farmersedge.ca/investor-relations/) and on SEDAR (www.sedar.com). The Company cautions that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect the Company’s results. Readers are urged to consider the risks, uncertainties and assumptions associated with these statements carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.