Sprout AI Inc. — M&A Activity 2024

Sep 6, 2024

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Sprout AI Inc. Announces Shareholder Approval of Amalgamation with TheraCann International Benchmark Corp.

Sprout AI shareholders approve amalgamation with TheraCann International. Now named Beyond Farming, to trade: BYFM on CSE. Directors elected, auditor retained.

VANCOUVER, BRITISH COLUMBIA, CANADA, September 4, 2024 /EINPresswire.com/ -- Sprout AI Inc. (Ticker: BYFM), publicly listed on the Canadian Securities Exchange (CSE), is pleased to announce that at a special meeting held on August 30, 2024, the minority shareholders of Sprout AI Inc. have approved the amalgamation with

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TheraCann Go Beyond Farming Sprout AI

its parent company, TheraCann International Benchmark Corp. The resulting entity will be named Beyond Farming and continue trading on the Canadian Securities Exchange under the symbol BYFM.

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By combining Sprout AI, OS2, and our plant traceability technology, the sum of our whole will surely be greater than its parts.”

Chris Bolton, Founder and

Approval of Amalgamation and Election of Directors: Based on proxies submitted and counted by Endeavor Trust, the assigned licensed transfer agent acting as Scrutineer, the majority of the minority shareholders have voted in favor of this transaction. In compliance with "MI 61-101 Protection of Minority Security Holders in Special Transactions and Companion Policy 61-101CP," TheraCann, holding 53% of the votes, abstained from voting.

CEO

Additionally, the minority shareholders approved the

placement of the following Directors for the resulting entity, Beyond Farming:

• Chris Bolton

• Jaikishin Aswani

• Doug Connell

• Brian Nolan

• Kevin Delano

• Calie-Anne Bolton

The auditor for Beyond Farming, which will continue trading under the symbol BYFM, shall remain Segall LLP of Toronto, Canada, with support from JPA International of Panama City, Panama.

Chris Bolton, Founder and CEO of TheraCann International and Sprout AI, expressed his enthusiasm, stating, "It is with great pleasure that we announce the recombination of TheraCann International and its former subsidiary, Sprout AI. By combining Sprout AI, which possesses our cultivation hardware, with our other wholly-owned subsidiaries OS2, which holds our secure and multi-lingual enterprise resource planning and compliance software (ERPc), and our leading-edge plant traceability technology (ETCH biotrace), the sum of our whole will surely be greater than its parts."

Bolton continued, "We are well-positioned to expand our operations internationally, having spent years perfecting our crop-agnostic, lower-cost operations, and providing farm as a solution (FaaS) facilities globally. Our FaaS facilities are capable of producing over 30 crops, including fruits, vegetables, and mushrooms, in a water-neutral, power-conservative, and labor-efficient manner. We can plan, design, and implement a full-scale commercial production center (CPC) capable of producing over 880,000 pounds of pure produce, free of any biological or chemical contaminants. Furthermore, we have demonstrated that we can achieve more with much less capital financing. Consequently, we have chosen this time to enter the public market as a fully amalgamated and integrated company. We believe the indoor vertical farm market is now primed to receive our FaaS Turn-Key Facility solution globally."

About TheraCann International Benchmark Corp

TheraCann International Benchmark Corp. is a global provider of turnkey cultivation and technology solutions. With a focus on compliance, quality, and consistency, TheraCann's comprehensive suite of products and services supports agricultural companies throughout the entire cultivation lifecycle. TheraCann is dedicated to advancing the vertical farming industry through progressive technology and industry expertise.

About Sprout AI

Sprout AI is a technology company specializing in planning, designing, assembling, and managing scalable AI-controlled vertical cultivation equipment for international urban farming. The adaptive technology ensures improved growing parameters and early detection of adverse conditions, resulting in consistent, repeatable crops with shorter cultivation cycles, independent of geographic climates.

For more information about the resulting entity Beyond Farming, please visit the official website

at www.beyondfarming.com.

Colleen McKay, Investor Relations Sprout AI Inc., Sprout AI S.A., 07 320-5092 cmckay@sproutai.solutions Visit us on social media: Facebook LinkedIn Instagram

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