Some Mine Bitcoin, We Mine Red Gold

Tuesday, 13. July 2021 16:25

Seedo Corp. is the first to successfully double its annual production of saffron using its state-of-the-art vertical farming technology.

TEL AVIV, Israel, July 13, 2021 (GLOBE NEWSWIRE) --  Seedo Corp. (OTCQB: SEDO), an agtech company that is developing the protocols to grow saffron using vertical farming technology, today announced that they have successfully harvested a second production of the spice known as red gold. Traditional farming yields only one crop of saffron annually. Seedo Corp’s vertical farming machinery and data science has allowed the company to double production and fully grow a second crop of the spice whose value is equal to gold. R&D efforts continue to see if they will be able to reach its goal to produce saffron three times annually.

“We believe that these developments demonstrate that we are well-positioned for significant growth for years to come,” says David Freidenberg, CEO of Seedo Corp. “The saffron market needs this modern solution to meet the increased demand in the culinary, pharmaceutical and nutraceutical markets. We are pleased that our R&D efforts continue to prove that we can scale up our business with increased annual yields.”

A portion of Seedo’s completed production of saffron has been delivered to its brand ambassador and 2-Michelin star chef Kiko Moya for culinary use. Seedo’s saffron was also featured in a television segment on Iran International where a saffron connoisseur reported that Seedo’s saffron tasted “exactly” like the saffron produced by traditional Iranian farmers.

Streamlining saffron’s supply chain and creating a large-scale and reliable production of the in-demand spice could help grow the existing billion-dollar saffron market. Despite the expensive cost, the demand for saffron is high and increasing annually with an anticipated revenue based CAGR of 5.99%. Seedo seeks to use its solution to make the spice more accessible to consumers and create business opportunities in sectors outside of the food industry.

About Seedo:
Seedo Corp. (OTC: SEDO) is an agtech company that focuses on the research, development, and commercialization of agriculture products that are high in demand but are hindered by the low yields and specifications required by traditional farming. Seedo's technology is aimed at transforming the way agriculture is done by offering a responsible and sustainable way to grow crops in a world confronted by environmental challenges and dwindling earth reserves, diminishing water sources and unstable weather conditions.

Cautionary Note Regarding Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to our ability to successfully execute a smooth transition of CFO functions as well as our ability to retain and recruit qualified executives; uncertainties related to, and failure to achieve, the potential benefits and success of our senior management team and organizational structure; our ability to successfully compete in the marketplace; our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Reports on Form 10-Q and in our Annual Report on Form 10-K, including in the sections captioned "Risk Factors" and "Forward Looking Statements." Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

David Freidenberg,
Chief Executive Officer
+1 (800) 608-6432

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