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Agtech’s JV Partner City Farm Industries Signs MOU Agreement for Another $2.5m Investment

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Newport Beach, California–(Newsfile Corp. – October 5, 2021) – Agtech Global International Inc.’s (OTC Pink: AGGL) (Agtech) (name change to Galexxy Holdings in process) Joint Venture partner, City Farm Industries (CFI), has signed an MOU dated September 29, 2021, for a $2.5 million Joint Venture investment with a private investor, to kick start its large-scale greenhouse Hemp CBD cultivation program on its 1600-acre leasehold property in the Central Valley of California.

This $2.5 million additional investment is on top of the $10 million staged capital investments planned by AGGL to expand the Agtech-CFI joint venture’s production capacity of multi-span, climate-controlled greenhouses to 320,000 square feet, in 80,000 square feet “POD” configurations.

The investor and CFI will form another Joint Venture company, to be owned 75% by the investor and 25% by CFI. CFI will provide a sub-lease to the new joint venture to accommodate one large-scale POD comprising of eight greenhouses that will total 80,000 square feet. CFI shall provide the new joint venture with the first two greenhouses, that were recently received from China and investor shall assist in the installation for operations to commence as soon as possible. Investor will then place new greenhouse orders through CFI to increase CFI’s capacity. The joint venture sub-lease shall be for 2 years unless mutually extended.

The new Joint Venture investment enables CFI’s early development of an additional 80,000 square feet of greenhouse capacity that can produce 28,000 lbs of CBD flower per year with an expected market value of $8.4 million. Agtech holds the Option to acquire CFI.

Agtech’s CEO, Ross Lyndon-James stated, “This new investment for CFI is complimented by Agtech’s recently acquired Blockchain advanced operating system which provides the Agtech-CFI joint venture with the advantages of a fully encrypted CBD seed to sale tracking capability, necessary regulatory compliance and detailed supply chain controls.”

Agtech Global International Inc. (to be known as Galexxy Holdings Inc.) is a soil to sale CBD manufacturer and online marketing company that is publicly traded on OTC Markets Pink (OTC: AGGL). Based in Newport Beach, California, the recent restructuring of Agtech has included a change of control and a name change. Agtech has applied to FINRA to approve the name change and obtain a new trading symbol.

Agtech Global International Inc.
Ross Lyndon-James
E:

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98585

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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