AgriForce Growing Systems Completes Asset Acquisition
Ticker: AVX · Form: 8-K · Filed: Dec 4, 2024 · CIK: 1826397
| Field | Detail |
|---|---|
| Company | Agriforce Growing Systems Ltd. (AVX) |
| Form Type | 8-K |
| Filed Date | Dec 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, definitive-agreement
TL;DR
AgriForce just bought some assets, details TBD.
AI Summary
On November 28, 2024, AgriForce Growing Systems Ltd. announced the completion of its acquisition of certain assets from a third party. The filing also details the entry into a material definitive agreement related to this transaction. Specific financial terms and the identity of the third party were not disclosed in this initial 8-K filing.
Why It Matters
This acquisition could significantly expand AgriForce's operational capabilities and market reach, potentially impacting its future revenue and growth trajectory.
Risk Assessment
Risk Level: medium — The lack of specific financial details and the identity of the acquired assets in this filing introduces uncertainty about the true value and impact of the transaction.
Key Players & Entities
- AgriForce Growing Systems Ltd. (company) — Registrant
- November 28, 2024 (date) — Date of earliest event reported
- 800-525 West 8th Avenue, Vancouver, BC, Canada V5Z 1C6 (address) — Principal executive offices
FAQ
What specific assets were acquired by AgriForce Growing Systems Ltd.?
The filing does not specify the exact nature or list of assets acquired, only that an acquisition of certain assets was completed.
What is the financial value of the completed asset acquisition?
The filing does not disclose the specific dollar amount or financial terms of the acquisition.
Who was the third party from whom AgriForce acquired the assets?
The identity of the third party involved in the asset acquisition is not disclosed in this 8-K filing.
What is the effective date of the material definitive agreement mentioned?
The filing indicates the earliest event reported was November 28, 2024, which is also the date of the report, suggesting this is the effective date or close to it.
What is the primary business of AgriForce Growing Systems Ltd.?
AgriForce Growing Systems Ltd. is involved in prefabricated metal buildings and components, as indicated by its SIC code [3448].
Filing Stats: 676 words · 3 min read · ~2 pages · Grade level 13.7 · Accepted 2024-12-04 17:01:27
Key Financial Figures
- $1.5 million — a, Canada. The assets were acquired for $1.5 million in cash from the Company's own availabl
Filing Documents
- form8-k.htm (8-K) — 42KB
- ex99-1.htm (EX-99.1) — 20KB
- 0001493152-24-048692.txt ( ) — 238KB
- agri-20241128.xsd (EX-101.SCH) — 3KB
- agri-20241128_lab.xml (EX-101.LAB) — 33KB
- agri-20241128_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
01 below
Item 2.01 below. Item 2.01 Completion of Acquisition or Disposition of Assets On November 28, 2024, AgriForce Growing Systems, Ltd. (the "Company") entered into an agreement with Rivogenix Energy Corp. to acquire and consummated the acquisition of various assets which comprise a bitcoin mining facility in Sturgeon County, Alberta, Canada. The assets were acquired for $1.5 million in cash from the Company's own available cashflow and are comprised of a data center and approximately 130 bitcoin miners. Item 8.01 Other Information The Company filed a press release on December 3, 2024 regarding the acquisition. Item 9.01 Exhibit 99.1 Press Release dated December 3, 2024 Item 104 Inline XBRL
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: December 4, 2024 AGRIFORCE GROWING SYSTEMS, LTD. By: /s/ Jolie Kahn Name: Jolie Kahn, CEO