Company Announcements

REGINA, Saskatchewan, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Above Food Ingredients Inc. (Nasdaq: ABVE, ABVEW) (“Above Food” or the “Company”), an innovative food company leveraging its vertically integrated supply chain to deliver differentiated ingredients and consumer products, is pleased to announce that its subsidiary, Discovery Seed Labs, a company with unmatched expertise in seed testing, in collaboration with BASF Canada Inc. (“BASF”), has successfully developed a quantitative molecular assay to detect Group 11 resistance in anthracnose disease affecting lentil crops.

This innovative test comes at a crucial time for lentil growers, particularly in Saskatchewan, where recent research by BASF indicates widespread Group 11 resistant anthracnose. The study found that 99% of sampled fields showed some level of resistance, with 66% of fields exhibiting over 80% resistance.

“We’re excited to announce this development which amplifies our disruptive agriculture business and strengthens our comprehensive differentiated seed-to-fork platform,” said Lionel Kambeitz, Founder, President, Chief Executive Officer, and Executive Chairman of Above Food. “By accurately identifying resistant strains, growers can make more informed decisions about disease management and fungicide use, saving costs and improving yields. This innovation not only supports our growers in producing high-quality, disease-resistant crops but also reinforces our position as a leader in furthering disruptive agriculture solutions.”

The new assay can detect Group 11 resistant anthracnose in both plant and seed samples, providing valuable data for implementing targeted and effective disease management strategies. This is particularly important given that anthracnose infection rates and disease progression are influenced by various factors, including climate conditions, crop rotation, lentil variety, fungicide use, and residue management.

If you are interested in testing and require additional information, please reach out to Above Food via email at info@seedtesting.com or by phone at 306-249-4484. Testing is provided independent of BASF.

About Above Food

Above Food Ingredients Inc. (Nasdaq: ABVE, ABVEW) is an ingredient company that celebrates delicious products made with real, nutritious, flavorful ingredients delivered with transparency. Above Food’s vision is to create a healthier world — one seed, one field, and one bite at a time. With a robust chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing, and proprietary seed development capabilities that leverage the power of artificial intelligence-driven genomics, Above Food delivers nutritious foods to businesses and consumers with traceability and sustainability. Above Food’s consumer products and brands are available online at www.abovefood.com and in leading grocers across Canada and the United States.

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain “forward-looking information” within the meaning of the United States federal securities laws and applicable Canadian securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” future,” “opportunity,” “plan,” “may,” “should,” “will,” “could,” “will be,” will continue,” and similar expressions and include, without limitation, statements about the ability of or expectations regarding the future performance of our business and operations.

Forward-looking statements are based on the current expectations of Above Food's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider all of the risks and uncertainties described in the documents filed by the Company with the United States Securities and Exchange Commission, which is available on EDGAR at www.sec.gov/edgar.shtml. There may be additional risks that Above Food presently does not know or that Above Food currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Above Food’s expectations, plans or forecasts of future events and views as of the date of this communication. Above Food anticipates that subsequent events and developments will cause Above Food’s assessments to change. However, while Above Food may elect to update these forward-looking statements in the future, Above Food specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Above Food’s assessments as of any date subsequent to the date of this communication. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein.

Contacts
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media@abovefood.com

Investors:
investors@abovefood.com