LISHUI, China, March 20, 2018 /PRNewswire/ -- Farmmi, Inc. (the "Company") (Nasdaq: FAMI), a leading agriculture products supplier in China, today announced that during the grand award ceremony conference on March 14, 2018 in Lishui, China, Liandu District People's Government of Lishui awarded the Company "Exemplary Publicly Listed Company" honoring its successfully listing on Nasdaq.
During the award ceremony conference, the Company also entered into a strategic cooperation framework agreement (the "Framework Agreement") with Lishui Agricultural Investment Development Co., Ltd ("LAIDC"). The parties signed the Framework Agreement to integrate the advantages and resources of each other and to help more local ecological agricultural products sell across China and worldwide. The parties agreed that, under certain conditions, they may use each other's brand and sales network. LAIDC and the Company may entrust each other to produce its products. Without any charge, LAIDC will provide the Company a series of services including product testing, packaging design, cultural creation, standardized production guidance, supply chain management, traceability systems and research and development. LAIDC also expressed interest in a potential investment in the Company. Additionally, the parties agreed to negotiate a plan to jointly establish an industry fund with third parties to invest in and cultivate the public listing of leading agricultural enterprises in Lishui and other areas.
Ms. Yefang Zhang, Chairwoman and Chief Executive Officer of the Company, commented, "We hope Farmmi's experience listing on the Nasdaq Capital Markets can be a helpful model for other companies with plans to raise capital on public markets. We extend a special thanks to the People's Government of Lishui for their efforts organizing this ceremony and their continued support of our business."
About Farmmi, Inc.
Headquartered in Lishui, Zhejiang, Farmmi, Inc. (the "Company") (Nasdaq: FAMI), is an agricultural products supplier and primarily processes and sells Shiitake mushrooms, Mu Er mushrooms, other edible fungi, and other agricultural products. In addition, Farmmi Liangpin Market, the Company's ecommerce platform, provides an opportunity for consumers to access locally sourced agricultural products. For further information regarding the Company, please visit: http://ir.farmmi.com.cn/.
About Lishui Agricultural Investment Development Co., Ltd.
Headquartered in Lishui, Zhejiang, Lishui Agricultural Investment Development Co., Ltd. ("LAIDC") is a state-owned company focusing on supporting and investing in local agricultural industry. LAIDC owns the brand "Lishui Mountain Farming" with a brand value of $400 million. LAIDC was awarded the Top 100 practice cases of "Internet + Agriculture" in China.
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's proposed IPO. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the IPO will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.
For more information, please contact Investor Relations at:
Tina Xiao, President
Ascent Investor Relations LLC
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SOURCE Farmmi, Inc.