WINNIPEG, Manitoba, May 8 — Ag Growth International Inc. (TSX: AFN) (“AGI” or the “Company”) is pleased to announce that it has entered into an agreement (the “Cooperation Agreement”) with Plantro Ltd. (“Plantro”), pursuant to which the Company has agreed to appoint Mick MacBean and Gary Anderson to the Board following the upcoming annual and special meeting of shareholders to be held on June 4, 2026 (the “Annual Meeting”). Pursuant to the Cooperation Agreement, Plantro has withdrawn its previously announced notice of its intention to nominate three individuals for election as directors at the Annual Meeting.
“We appreciate our constructive engagement with Plantro and are pleased to have come to a mutually acceptable outcome,” said Daniel Halyk, Board Chair. “This development allows AGI to continue to focus on the execution of its restructuring plan with a view to maximizing shareholder value.”
To facilitate the Board appointments, Jean-Philippe Choquette has decided to resign from the Board immediately following the Annual Meeting. AGI sincerely thanks Mr. Choquette for his significant contributions as the Company took integral steps in its ongoing restructuring process. “With much of the foundational work now complete and a strong, high‑quality Board in place, AGI is well positioned to move forward, and I am confident in the Board and management team’s ability to execute on the Company’s strategy,” said Mr. Choquette.
Under the terms of the Cooperation Agreement, the Company has agreed to establish a strategic committee of independent directors to oversee a formal review of strategic alternatives available to the Company to maximize shareholder value. The Company has committed to commencing the strategic review process within the next nine months. One of Mr. MacBean or Mr. Anderson will be a member of strategic committee.
Pursuant to the Cooperation Agreement, Plantro will be subject to certain voting and standstill covenants. The full text of the Cooperation Agreement is available on the Company’s SEDAR+ profile at sedarplus.ca.
