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Art & Life Business

Zoetis named a ‘100 Best Company’ and a ‘Best Company for Dads’ by Seramount

  • Seramount (formerly Working Mother Media) recognized Zoetis for forward-thinking programs and benefits related to parental leave, family support and job flexibility
  • Kristy Earley-Murray, Strategic Veterinarian, Named Zoetis’ Working Mother of the Year
  • Chip Dorsey, Business Development VP, Named Zoetis’ First-Ever Working Father of the Year

 

PARSIPPANY, N.J. — (BUSINESS WIRE) — $ZTS #Seramount100Best2021–For the eighth year in a row, Zoetis has been named one of Seramount’s 100 Best Companies (previously known as the Working Mother 100 Best Companies list). The company was also named to Seramount’s Best Companies for Dads list for the first time. Both awards reflect Zoetis’ commitment to providing colleagues with a range of family-friendly benefits and flexible work arrangements.

“The COVID-19 pandemic continues to present challenges and uncertainty for all of our colleagues, especially our working parents and caregivers,” said Roxanne Lagano, Executive Vice President, Chief Human Resources Officer and Global Operations at Zoetis. “We believe it is absolutely essential to offer comprehensive benefits that protect and enhance the variety of health and well-being needs of our colleagues and their loved ones. We also understand how important flexibility is when it comes to leading a balanced and productive life, and we are committed to making flexibility a lasting part of our culture. We are honored to once again be named one of Seramount’s 100 Best Companies, and we are thrilled to earn a place for the first time on the Best Companies for Dads list.”

 

Kristy Earley-Murray Named Zoetis’ Working Mother of the Year

As part of the 100 Best Companies recognition, Zoetis named Kristy Earley-Murray its 2021 Working Mother of the Year. A Strategic Veterinarian in the company’s Midwest region and mother of three young children, Kristy draws her inspiration from her own mother, whose work ethic and devotion to her family compelled Kristy to help others in need. “Whether it’s being there for a colleague who is struggling to find balance as a working mom, or talking to other veterinarians about compassion fatigue and the critical need for self-care, I understand the importance of community and strive to make a difference wherever I can – big or small,” she said. Kristy also holds a leadership role within the Differently-abled & Neurodiversity Alliance (DNA) colleague resource group at Zoetis. “As the mother of a neurodivergent child, I leapt at the opportunity to be part of this supportive group at Zoetis. Connecting with peers who have similar experiences has provided me much comfort during times of uncertainty and I hope my involvement in DNA can provide other parents with the same,” she said. Learn more about Kristy’s story here.

 

Chip Dorsey Named Zoetis’ First-Ever Working Father of the Year

As part of its inaugural inclusion on Seramount’s Best Companies for Dads list, Zoetis named Chip Dorsey, Vice President of Business Development, its first-ever Working Father of the Year. A dedicated leader, mentor and father to two young boys, Chip’s role models growing up were his parents, both doctors who modeled a comfortable overlap between parenting and working. When Chip’s mother passed away at the beginning of the pandemic, he and his family relocated to California to be closer to loved ones. “The support of my colleagues and the Zoetis culture made this shift as smooth as possible, reinforcing that it was the right choice for my family. Zoetis provided me with the opportunity to work fully remote, which has allowed me to spend much more time with my sons. I get to watch them learn and grow, while still pursuing a fulfilling career with growth and development potential.” Chip also serves as a mentor to other colleagues. “I encourage young fathers to be transparent about what they want to accomplish and speak to them about prioritizing their values in order to find balance in their own lives,” said Chip. Learn more about Chip’s story here.

 

Learn More

Seramount will feature a profile of Zoetis online today. The 100 Best Companies and Best Companies for Dads lists are also available here.

 

For more information about Zoetis, including career opportunities and our award-winning culture, visit https://careers.zoetis.com/.

 

About Zoetis

As the world’s leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After nearly 70 years innovating ways to predict, prevent, detect, and treat animal illness, Zoetis continues to stand by those raising and caring for animals worldwide – from livestock farmers to veterinarians and pet owners. The company’s leading portfolio and pipeline of medicines, vaccines, diagnostics, and technologies make a difference in over 100 countries. In 2020, Zoetis generated revenue of $6.7 billion with ~11,300 employees. For more, visit www.zoetis.com.

 

About Seramount

Seramount, now part of EAB, is a strategic professional services firm dedicated to advancing diversity, equity, and inclusion in the workplace. Over four decades, partnering with some of the most iconic companies in the world, we’ve built a deep, data-driven understanding of the employee experience, which lays the groundwork for everything we do. Our comprehensive DE&I toolkit includes actionable research and insights, membership, strategic guidance and consulting, and inspiring events, meeting each client’s needs no matter where they are on their journey and guiding them along an ever-changing landscape. Seramount has empowered over 450 organizations to realize the business benefits of diversity, equity, and inclusion. Learn more at seramount.com.

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Contacts

Media Contact:

Kristen Seely

1-973-443-2777

kristen.seely@zoetis.com

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Business

PGIM Investments expands alternative investment lineup with new PGIM Wadhwani fund

NEWARK, N.J. — (BUSINESS WIRE) — $PRU–PGIM Investments continues to expand its platform of alternative investment solutions with the launch of the PGIM Wadhwani Systematic Absolute Return Fund, a proprietary quantitative and systematic global macro strategy seeking long-term risk-adjusted total return. This is PGIM Investments’ first PGIM Wadhwani strategy offered as a U.S. mutual fund.


“Investors are facing a challenging market environment where stock market valuations are historically high and bond market yields are historically low. Alternative investment solutions like global macro strategies may offer a compelling way for investors to generate uncorrelated risk-adjusted returns to complement their traditional 60/40 portfolios,” said Stuart Parker, president and CEO of PGIM Investments.

 

The fund invests across global equities, fixed income and currencies (directly or through the use of derivatives), taking both long and short positions, in an effort to capture alpha opportunities while limiting downside risk. With its dynamic asset allocation strategy, the fund seeks to remain nimble in quickly changing market environments.

 

“With risk management integral to the way we construct portfolios, we employ an agile approach, dynamically tilting and timing our exposures and combining signals in a non-linear fashion to try to limit portfolio drawdowns,” said Dr. Sushil Wadhwani, CBE, chief investment officer of PGIM Wadhwani and a named portfolio manager of the fund. Dr. Wadhwani has 31 years of investment experience, which includes work in academia and the financial sector, as well as several years on the Bank of England’s Monetary Policy Committee.

 

PGIM Investments is part of PGIM, Inc. (“PGIM”), the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Wadhwani LLP (formerly QMA Wadhwani LLP) is a London-based asset management company that specializes in systematic global macro investing with a unique combination of academic, macro, policy and financial market experience.

 

ABOUT PGIM INVESTMENTS

PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives and real estate.

 

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world* with approximately $1.5 trillion in assets under management as of June 30, 2021. With offices in 17 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

 

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

 

* Prudential Financial, Inc. (PFI) is the 10th-largest investment manager (out of 477) in terms of global AUM based on the Pensions & Investments Top Money Managers list published on May 31, 2021. This ranking represents assets managed by Prudential Financial as of Dec. 31, 2020.

 

Consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.

 

Investing in mutual funds involves risks. Some mutual funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost and it is possible to lose money. There is no guarantee that a fund’s objectives will be achieved. The risks associated with each fund are explained more fully in each fund’s respective prospectus.

 

Funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company. PGIM Wadhwani is the primary business name of PGIM Wadhwani LLP, a wholly owned subsidiary of PGIM, Inc. (PGIM), a Prudential Financial company. © 2021 Prudential Financial, Inc. and its related entities. PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

 

Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.

 

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CONNECT WITH US:

Visit pgim.com
Join the conversation on Twitter @PGIM

Contacts

MEDIA CONTACT
Kylie Scott

+1 973 902 2503

kylie.scott@pgim.com

Categories
Business Science

Shionogi to present In Vitro and Real-World Data at IDWeek 2021 demonstrating activity of FETROJA® (cefiderocol) against gram-negative pathogens

OSAKA, Japan & FLORHAM PARK, N.J. — (BUSINESS WIRE) — Shionogi & Co., Ltd. (hereafter “Shionogi”) today announces that 11 abstracts on FETROJA® (cefiderocol) will be shared at IDWeek. The meeting will take place virtually from Sept. 29 – Oct. 3, 2021.

  

“The data presented at IDWeek underscores our commitment to fighting antimicrobial resistance and addressing the challenges in treating carbapenem-resistant Gram-negative bacteria, which are associated with high mortality and unmet need,” said Akira Kato, Ph.D., President and CEO at Shionogi Inc. “We look forward to sharing new real-world data on FETROJA with the infectious disease community at IDWeek.”

 

Presentations will include data from company-sponsored or investigator-initiated studies. Abstracts will be available in the IDWeek Interactive Program and include:

 

  • Poster #789: Susceptibility of Phenotypic Subsets of Pseudomonas aeruginosa isolates of Cefiderocol and Comparator Agents from SIDERO-WT 2014-2019

    Presenter: Sean Nguyen, Pharm.D.

  • Poster #1058: In Vitro and in Vivo Antibacterial Activity of Cefiderocol against Burkholderia spp.

    Presenter: Merime Ota, BSc

  • Poster #1065: Efficacy of Cefiderocol in Experimental Stenotrophomonas maltophilia Pneumonia in Persistently Neutropenic Rabbits

    Presenter: Vidmantas Petraitis, M.D.

  • Poster #1066: In Vitro and in Vivo Antimicrobial Activity of Cefiderocol and Comparators against Achromobacter spp

    Presenter: Ryuichiro Nakai, MSc

  • Poster #1106: Evaluation of Penetration of Cefiderocol into Cerebrospinal Fluid Using a Rat Meningitis Model

    Presenter: Miki Takemura, M.S.

  • Poster #1232: In Vitro Activity of Cefiderocol and Comparator Agents against Molecularly-characterized Carbapenem-resistant Enterobacterales Clinical Isolates Causing Infection in United States Hospitals (2020)

    Presenter: Rodrigo E. Mendes, Ph.D.

  • Poster #1256: Clinical Response by Minimum Inhibitory Concentrations in Carbapenem-Resistant Pseudomonas aeruginosa Infections under Cefiderocol Compassionate Use Program

    Presenter: Michael Satlin, M.D.

  • Poster #1272: Cefiderocol In Vitro Activity against Molecularly characterized Acinetobacter baumannii-calcoaceticus complex and Pseudomonas aeruginosa Clinical Isolates Causing Infection in United States Hospitals (2020)

    Presenter: Rodrigo E. Mendes, Ph.D.

  • Poster #1287: Double Disk Diffusion Study to Evaluate the Synergistic Effect Between Cefiderocol and Ceftazidime-Avibactam Against Cefiderocol-non-susceptible Acinetobacter baumannii

    Presenter: Yoshinori Yamano, Ph.D.

  • Poster #1291: PROVE (Retrospective Cefiderocol Chart Review) Study of Real-World Outcomes and Safety in the Treatment of Patients with Gram-negative Bacterial Infections in the US and Europe

    Presenter: Stephen W. Marcella, M.D., M.P.H.

  • Poster #1308: Activity of Cefiderocol and Comparators against Gram-negative Isolates from US Patients Hospitalized with Pneumonia

    Presenter: Dee Shortridge, Ph.D.

 

For additional information related to FETROJA, please contact Shionogi at medinfo@shionogi.com.

 

About FETROJA® (cefiderocol) for Injection

FETROJA® (cefiderocol) is a cephalosporin antibiotic with a novel mechanism for penetrating the outer cell membrane of Gram-negative pathogens by acting as a siderophore. In addition to entering cells by passive diffusion through porin channels, FETROJA binds to ferric iron and is actively transported into bacterial cells through the outer membrane via the bacterial iron transporters, which function to incorporate this essential nutrient for bacteria. These mechanisms allow FETROJA to achieve high concentrations in the periplasmic space where it can bind to penicillin-binding proteins and inhibit cell wall synthesis in the bacterial cells. FETROJA has also demonstrated in vitro activity against certain bacteria that contain very problematic resistant enzymes such as ESBLs, AmpC, serine- and metallo-carbapenemases. Data from multinational surveillance studies for FETROJA demonstrated potent in vitro activity against a wide spectrum of Gram-negative pathogens including carbapenem-resistant A. baumannii, P. aeruginosa, Enterobacterales, and S. maltophilia. The clinical significance of the in vitro data is unknown. FETROJA has poor in vitro activity against Gram-positive or anaerobic bacteria.

 

Cefiderocol, under the brand name FETCROJA®, is approved by the European Commission for the treatment of infections due to aerobic Gram-negative bacteria in adults 18 years or older with limited treatment options.

 

US INDICATIONS

Fetroja® (cefiderocol) is indicated in patients 18 years of age or older for the treatment of complicated urinary tract infections (cUTIs), including pyelonephritis caused by the following susceptible Gram-negative microorganisms: Escherichia coli, Klebsiella pneumoniae, Proteus mirabilis, Pseudomonas aeruginosa, and Enterobacter cloacae complex.

 

Fetroja is indicated in patients 18 years of age or older for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia, caused by the following susceptible Gram-negative microorganisms: Acinetobacter baumannii complex, Escherichia coli, Enterobacter cloacae complex, Klebsiella pneumoniae, Pseudomonas aeruginosa, and Serratia marcescens.

 

USAGE

To reduce the development of drug-resistant bacteria and maintain the effectiveness of Fetroja and other antibacterial drugs, Fetroja should be used only to treat or prevent infections that are proven or strongly suspected to be caused by susceptible bacteria.

 

SELECT IMPORTANT SAFETY INFORMATION

CONTRAINDICATIONS

Fetroja is contraindicated in patients with a known history of severe hypersensitivity to cefiderocol or other beta-lactam antibacterial drugs, or any other component of Fetroja.

 

WARNINGS AND PRECAUTIONS

Increase in All-Cause Mortality in Patients with Carbapenem-Resistant Gram-Negative Bacterial Infections

An increase in all-cause mortality was observed in patients treated with Fetroja as compared to best available therapy (BAT) in a multinational, randomized, open-label trial in critically ill patients with carbapenem-resistant Gram-negative bacterial infections (NCT02714595). Patients with nosocomial pneumonia, bloodstream infections, sepsis, or cUTI were included in the trial. BAT regimens varied according to local practices and consisted of 1 to 3 antibacterial drugs with activity against Gram-negative bacteria. Most of the BAT regimens contained colistin.

 

The increase in all-cause mortality occurred in patients treated for nosocomial pneumonia, bloodstream infections, or sepsis. The 28-Day all-cause mortality was higher in patients treated with Fetroja than in patients treated with BAT [25/101 (24.8%) vs 9/49 (18.4%), treatment difference 6.4%, 95% CI (-8.6, 19.2)]. All-cause mortality remained higher in patients treated with Fetroja than in patients treated with BAT through Day 49 [34/101 (33.7%) vs 10/49 (20.4%), treatment difference 13.3%, 95% CI (-2.5, 26.9)]. Generally, deaths were in patients with infections caused by Gram-negative organisms, including non-fermenters such as Acinetobacter baumannii complex, Stenotrophomonas maltophilia, and Pseudomonas aeruginosa, and were the result of worsening or complications of infection, or underlying comorbidities. The cause of the increase in mortality has not been established.

 

Closely monitor the clinical response to therapy in patients with cUTI and HABP/VABP.

 

For Full US Prescribing Information, please visit Shionogi.com

 

Shionogi’s commitment to fighting antimicrobial resistance

Shionogi has a strong heritage in the field of anti-infectives and has been developing antimicrobial therapies for more than 60 years. Shionogi is proud to be one of the few large pharmaceutical companies that continue to focus on research and development in anti-infectives. The company invests the highest proportion of its pharmaceutical revenues in relevant anti-infectives R&D compared to other large pharmaceutical companies.1

 

For more information, please refer to: https://www.shionogi.com/global/en/sustainability/amr.html

 

About Shionogi

Shionogi & Co., Ltd. is a Japanese major research-driven pharmaceutical company dedicated to bringing benefits to patients based on its corporate philosophy of “supplying the best possible medicine to protect the health and wellbeing of the patients we serve.” The company currently markets products in several therapeutic areas including anti-infectives, pain, cardiovascular diseases, and gastroenterology. Our pipeline is focused on infectious disease, pain, CNS, and oncology. For more information on Shionogi & Co., Ltd., visit https://www.shionogi.com/global/en/. Shionogi Inc. is the U.S. subsidiary of Shionogi & Co., Ltd. based in N.J. For more information on Shionogi Inc., please visit www.shionogi.com.

 

Forward Looking Statement

This announcement contains forward-looking statements. These statements are based on expectations in light of the information currently available, assumptions that are subject to risks and uncertainties which could cause actual results to differ materially from these statements. Risks and uncertainties include general domestic and international economic conditions such as general industry and market conditions, and changes of interest rate and currency exchange rate. These risks and uncertainties particularly apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are not limited to, completion and discontinuation of clinical trials; obtaining regulatory approvals; claims and concerns about product safety and efficacy; technological advances; adverse outcome of important litigation; domestic and foreign healthcare reforms and changes of laws and regulations. Also, for existing products, there are manufacturing and marketing risks, which include, but are not limited to, inability to build production capacity to meet demand, unavailability of raw materials and entry of competitive products. The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

1 Antimicrobial Resistance Benchmark 2020.

https://accesstomedicinefoundation.org/media/uploads/downloads/5f3f76733efaa_Antimicrobial_Resistance_Benchmark_2020.pdf Last accessed September 2021.

Contacts

Lindsay Bohlander, Senior Director, Corporate Planning & Communications

+1 973-307-3718

Lindsay.Bohlander@shionogi.com

Categories
Business Education

Barnes & Noble Education names Maureen Paradine as senior vice president, chief human resources officer

BASKING RIDGE, N.J. — (BUSINESS WIRE) — Barnes & Noble Education, Inc. (NYSE: BNED), a leading solutions provider for the education industry, today announced that Maureen Paradine has been named Senior Vice President, Chief Human Resources Officer, effective September 27, 2021. Ms. Paradine will report directly to Michael C. Miller, Executive Vice President, Corporate Development and Affairs, and Chief Legal Officer, BNED.

As Chief Human Resources Officer, Ms. Paradine will be responsible for the talent, recruiting, diversity and inclusion, compensation, benefits, employee relations and all aspects of human resources for the Company. Ms. Paradine brings 30 years of human resources experience and more than 20 years experience in the retail industry to her new role at BNED. She has a proven track record as a leader, building out foundational processes and establishing strategic HR functions and partnerships around compensation, retention and rewards, employee engagement, performance management and succession planning, and implemented technologies and dashboards to provide clearer, more consistent data to the leadership team and board of directors.

 

“We are pleased to welcome Maureen to BNED as our new Chief Human Resources Officer,” said Michael P. Huseby, CEO and Chairman, BNED. “Maureen’s leadership experience and impressive background developing and overseeing the HR strategy for a diverse workforce in the retail industry will be an incredible asset to BNED.”

 

Prior to joining BNED, Ms. Paradine served as Senior Vice President, Human Resources, 1-800-FLOWERS.COM, Inc., a U.S.-based floral and foods gift retailer and distribution company with several subsidiaries, including Harry & David, The Popcorn Factory, Wolferman’s Bakery and more. There, she oversaw all human resources activities for the company’s 4,000 employees across the enterprise, including organizational development, talent development, human capital management, performance management, employment law, compensation and benefits. Before joining 1-800-FLOWERS.COM, Inc. in 2005, Ms. Paradine spent four years as Vice President, Human Resources at The Hain Celestial Group. Prior to that, she held a variety of human resources and development roles at Thomson Industries, Inc., Cooper & Dunham LLP and Klein Behavioral Science Consultants.

 

Maureen is a member of the Selection Committee for the Athena Women’s Leadership Award for Long Island. She earned a Master’s in Industrial/Organizational Psychology from New York University and a Bachelor of Arts in Business from Hofstra University.

 

ABOUT BARNES & NOBLE EDUCATION, INC.

Barnes & Noble Education, Inc. (NYSE: BNED) is a leading solutions provider for the education industry, driving affordability, access and achievement at hundreds of academic institutions nationwide and ensuring millions of students are equipped for success in the classroom and beyond. Through its family of brands, BNED offers campus retail services and academic solutions, a digital direct-to-student learning ecosystem, wholesale capabilities and more. BNED is a company serving all who work to elevate their lives through education, supporting students, faculty and institutions as they make tomorrow a better, more inclusive and smarter world. For more information, visit www.bned.com.

Contacts

Media:
Carolyn J. Brown

Senior Vice President

Corporate Communications & Public Affairs

Barnes & Noble Education

908-991-2967 cbrown@bned.com

Categories
Business Technology

Spring Valley provides update on business combination with AeroFarms

DALLAS & NEWARK, N.J. — (BUSINESS WIRE) — Spring Valley Acquisition Corp. (“Spring Valley”) (Nasdaq: SV, SVSVW, SVSVU) and Dream Holdings, Inc. (“AeroFarms”) today provided an update on the closing process and related timeline for their previously announced business combination, which was approved by shareholders on August 30, 2021. Both parties are continuing to work diligently toward the transaction. Per the transaction agreements, absent any termination, the parties are permitted up to 30 additional days, expiring October 24, 2021 to close the transaction. Upon closing, the combined company’s stock and warrants would trade under the ticker symbols “ARFM” and “ARFMW”, respectively.

About Spring Valley Acquisition Corp.

Spring Valley Acquisition Corp. is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While Spring Valley may pursue an initial business combination target in any business or industry, it is targeting companies focusing on sustainability, including clean energy and storage, smart grid/efficiency, environmental services and recycling, mobility, water and wastewater management, advanced materials and technology enabled services. Spring Valley’s sponsor is supported by Pearl Energy Investment Management, LLC, a Dallas, Texas based investment firm that focuses on partnering with best-in-class management teams to invest in the North American energy industry.

 

About AeroFarms

Since 2004, AeroFarms has been leading the way for indoor vertical farming and championing transformational innovation for agriculture. On a mission to grow the best plants possible for the betterment of humanity, AeroFarms is a Certified B Corporation with global headquarters in Newark, New Jersey. Named one of the World’s Most Innovative Companies by Fast Company two years in a row and one of TIME’s Best Inventions in Food, AeroFarms patented, award-winning indoor vertical farming technology provides the perfect conditions for healthy plants to thrive, taking agriculture to a new level of precision, food safety, and productivity while using up to 95% less water and no pesticides ever versus traditional field farming. AeroFarms enables local production to safely grow all year round, using vertical farming for elevated flavor. In addition, through its proprietary growing technology platform, AeroFarms has grown over 550 varieties and has developed multi-year strategic partnerships ranging from government to major Fortune 500 companies to help uniquely solve agriculture supply chain needs. For additional information, visit: https://aerofarms.com/.

 

On March 26, 2021, AeroFarms announced a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV). Upon the closing of the business combination, AeroFarms will become publicly traded on Nasdaq under the new ticker symbol “ARFM”. Additional information about the transaction can be viewed here: https://aerofarms.com/investors/.

 

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “might,” “will,” “estimate,” “continue,” “contemplate,” “anticipate,” “intend,” “expect,” “should,” “would,” “could,” “plan,” “predict,” “project,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, including those regarding Spring Valley’s proposed acquisition of AeroFarms and pursuit of additional capital are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of AeroFarms and Spring Valley 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 as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AeroFarms and Spring Valley. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed transaction or that the approval of the stockholders of Spring Valley or AeroFarms is not obtained; failure to realize the anticipated benefits of the proposed transaction; risks related to the expansion of AeroFarms’ business and the timing of expected business milestones; the effects of competition on AeroFarms’ business; the ability of Spring Valley or AeroFarms to issue equity or equity-linked securities or obtain debt financing in connection with the proposed transaction or in the future, and those factors discussed in Spring Valley’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, final prospectus dated November 25, 2020 and definitive proxy statement/prospectus dated July 26, 2021 under the heading “Risk Factors,” and other documents Spring Valley has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Spring Valley nor AeroFarms presently know, or that Spring Valley nor AeroFarms currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Spring Valley’s and AeroFarms’ expectations, plans, or forecasts of future events and views as of the date of this press release. Spring Valley and AeroFarms anticipate that subsequent events and developments will cause Spring Valley’s and AeroFarms’ assessments to change. However, while Spring Valley and AeroFarms may elect to update these forward-looking statements at some point in the future, Spring Valley and AeroFarms specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Spring Valley’s and AeroFarms’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts

AeroFarms Contacts

Investor Relations:

Jeff Sonnek

ICR

Jeff.Sonnek@icrinc.com
1-646-277-1263

Media Relations:

Marc Oshima

AeroFarms

MarcOshima@AeroFarms.com
1-917-673-4602

Categories
Business

AM Best withdraws credit ratings of Crusader Insurance Company and Unico American Corporation

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b” (Marginal) from “bb+” (Fair) of Crusader Insurance Company (Crusader). AM Best also has downgraded the Long-Term ICR to “ccc-” (Weak) from “b” (Marginal) of Crusader’s parent company, Unico American Corporation (Unico). In addition, AM Best has maintained the under review with negative implications status for these Credit Ratings (ratings). Concurrently, AM Best has withdrawn these ratings at the request of the company to no longer participate in AM Best’s interactive rating process. Both companies are domiciled in Calabasas, CA.

The ratings reflect Crusader’s balance sheet strength, which AM Best assesses as weak, as well as its weak operating performance, limited business profile and marginal enterprise risk management.

 

The rating downgrades follow Crusader’s announcement that it has entered into an Administrative Supervision Agreement with the California Department of Insurance (CDI). The supervision agreement was requested by the CDI because of its expressed concerns regarding Crusader’s financial stability and the potential effects on Crusader and its California policyholders of any potential bankruptcy of Unico. The supervision agreement, among other things, provides for the appointment by the CDI of a special examiner to provide supervision and regulatory oversight of Crusader. It also imposes limitations on Crusader’s ability to take certain actions without the prior written consent of the California Insurance Commissioner, the special examiner, or the special examiner’s appointed representative. At this time, Crusader’s outgoing claims payments are not expected be limited or delayed. Additionally, there is nothing in the agreement between the CDI and Crusader that should restrict Crusader or Unico from pursuing a sale or a restructuring of Crusader subject to regulatory approvals and requirements.

 

While Crusader maintains sufficient liquidity, and its risk-adjusted capital levels remain at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), the downgrades reflect the lowered assessment of the balance sheet strength given the enterprise’s diminished financial flexibility and the constraints imposed on Crusader by the CDI.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Christine DePalma
Financial Analyst
+1 908 439 2200, ext. 5649
christine.depalma@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Robert Raber
Director
+1 908 439 2200, ext. 5696
robert.raber@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business Entertainment News

Faire La Fête expands distribution footprint

The Authentic French Sparkling Wine Brand Grows to New Jersey, Florida, Massachusetts and more

 

LOS ANGELES — (BUSINESS WIRE) — First Growth Brands, a builder of brands and importer of unique, premium, authentic wines from Europe, will expand it’s regional footprint of the company’s flagship brand, Faire La Fête, the authentic French sparkling wine.

 

Already distributed in 26 states across the country, Faire La Fête will now be sold in six new markets beginning on October 1st; including New Jersey with Allied Beverage Group, Massachusetts and Rhode Island with Horizon Beverage, Connecticut with Brescome Barton plus Florida and Indiana with Southern Glazers.


Additionally, with Faire La Fête’s rapid growth in the New York market, the brand will be moving to the Emerald Division of Southern Glazers, plus participating in the New York Food & Wine Festival on October 15th.

 

“We are delighted with the successful expansion for Faire La Fête in the key ‘sparkling wine’ markets,” said Chris Siconolfi, Senior Vice President of Sales. “Our goal is to build the brand into a strong player and leader in the French Sparkling wine category.”

 

Faire La Fête is the vibrant sparkler that rivals all non-vintage Champagne brands for 1/3 of the price. Developed in Limoux, France, the village that discovered, and first produced sparkling wine in 1531, Faire La Fête is hand harvested by 8th generation families and aged for up to 24 months, longer than similar Champagnes that cost $50 or more a bottle. Faire la Fête is a “champagne for all” with a $20 price point.

Contacts

Caitlin Kelly Caitlin@caitlinkelly-nyc.com

Categories
Business Technology

Gupshup acquires leading RCS platform, Dotgo

Acquisition propels Gupshup into global leadership in RCS (Rich Communications Services), solidifying its IP-based conversational messaging platform.

Dotgo will also help Gupshup accelerate growth into Africa.

 

SAN FRANCISCO & BERKELEY HEIGHTS, N.J. — (BUSINESS WIRE) — Gupshup, the leader in conversational messaging, today announced that it has acquired New Jersey based Dotgo. Dotgo is the global industry leader in RCS business messaging (RBM), with award-winning technologies such as the RichOTP®, RichSMS™, Bot Store®, and MaaP (Messaging as a Platform) that foster the growth of RCS Business Messaging. A strong partner of Google, Mavenir, Synchronoss, Vodafone, and Orange, Dotgo manages RBM in several markets, and operates the world’s largest RBM Hub with global connectivity to RCS users across the world. Dotgo is uniquely positioned to help brands integrate, with simple APIs, the RCS channel into their customer communications, whether for sales, support, services, or other business processes.

Dotgo, powered by a founding team with a rich history of tech innovation, is a Cohort 6 graduate of the IIT Startups accelerator. Dotgo grew rapidly in 2021 as RCS gained traction in North America, Europe, India, Brazil, and Nigeria. Dotgo’s MaaP, offered in partnership with, and pre-integrated with, Google Jibe platform, has been selected to operate RCS business messaging at several mobile operators. Dotgo has been a leading contributor at the Mobile Ecosystem Forum and GSMA in defining standards and processes for RCS business messaging.

Dotgo will significantly strengthen Gupshup’s conversational messaging platform that enables businesses and developers to build rich customer experiences. Gupshup also plans to leverage Dotgo’s strong experience and presence in Africa to expand there.

“Conversational experiences are becoming the key to business-customer interactions, and the RCS messaging channel is a critical enabler,” said Beerud Sheth, co-founder and CEO, Gupshup. “Dotgo’s product innovation, market traction, and thought leadership in the RCS ecosystem is truly impressive. Together, we’ll be able to offer a broader range of conversational messaging solutions to businesses and developers. We are excited to welcome them to the Gupshup family.”

Inderpal Singh Mumick, co-founder and CEO of Dotgo, said, “RCS business messaging is destined to change the way businesses communicate with their customers. We started Dotgo to create APIs that make it easy for brands and other players in the ecosystem to adopt RCS, while taking care of and hiding all the backend complexity from our customers. With the addition of RCS, Gupshup will undoubtedly be the strongest IP messaging company, and thus helps us accelerate our mission.”

Johanna Kollar, Partnerships Lead, Communication Products, Google, said, “We congratulate Dotgo and Gupshup on this acquisition. We have worked closely with Dotgo, and are very impressed by the quality of their products and services. We look forward to growing our relationship as the Dotgo team becomes a part of Gupshup.”

“The Dotgo team members were visionaries in recognizing the potential of RCS at a time when it had little adoption. We congratulate them on building industry leading products that are being adopted by customers across the world, just as RCS is taking off. Their bet proved prescient, and combining with an exceptional company like Gupshup will create a far stronger value proposition in the market,” said Naren Gupta, Managing Director, Nexus Venture Partners.

RCS will be a key messaging channel in Gupshup’s Conversational Messaging Platform, supplementing 30 other messaging channels available to customers via Gupshup’s Single API for messaging. RCS, a part of the 5G standard, is the next generation of SMS that includes pictures, audio, video, and presence, combined with enhanced security and encryption. RCS messages are delivered to native messaging apps such as Google Business Messages and Samsung Messages on Android phones. RCS Business Messaging uses the rich and interactive features of RCS to enable branded and secure business messaging. RCS is available globally with over 600M monthly active users, including about 20% of India’s smartphone users.

About Dotgo

Dotgo®, a global leader in RCS, is building the APIs and cloud platforms needed in a world where every business must have a presence inside messaging apps, just as they have web sites and smartphone apps. Dotgo’s APIs and services enable brands and developers to build conversational experiences that transform customer interactions, and help mobile operators to launch, manage, and monetize RCS business messaging. Dotgo is the provider of the Dotgo Bot Store®, world’s first and largest directory of RCS and WhatsApp bots, Dotgo MaaP, RichOTP®, RichSMS™, and the RBM Hub. Dotgo is a Google partner, a WhatsApp Business Solution Provider, and a member of the Mobile Ecosystem Forum. For more information, visit www.dotgo.com. Bot Store, Dotgo, and RichOTP are registered trademarks of Dotgo Systems Inc. in USA and other jurisdictions.

About Gupshup

Gupshup enables better customer engagement through conversational messaging. Gupshup is the leading conversational messaging platform, powering over 6 billion messages per month. Across verticals, thousands of large and small businesses in emerging markets use Gupshup to build conversational experiences across marketing, sales and support. Gupshup’s carrier-grade platform provides a single messaging API for 30+ channels, a rich conversational experience-building tool kit for any use case and a network of emerging market partnerships across messaging channels, device manufacturers, ISVs and operators. With Gupshup, businesses have made conversations an integral part of their customer engagement success. Gupshup is present in India, LATAM, South East Asia, Middle East, Eastern Europe, Africa and the United States. Visit www.gupshup.io. Converse with the Gupshup bot.

Contacts

Press
Richard Laermer

RLM PR | gupshup@rlmpr.com | (212) 741-5106 x 216

Categories
Business

AM Best revises outlooks to positive for Ardellis Insurance Ltd.

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Ardellis Insurance Ltd. (Ardellis) (Bermuda).

These Credit Ratings (ratings) reflect Ardellis’ balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

Ardellis’ ultimate parent is UFP Industries, Inc. (UFP). Ardellis provides reimbursement coverage for workers’ compensation, medical stop-loss, general liability, auto liability and property to its parent. In addition, Ardellis assumes medical stop-loss exposure from third parties.

The revision of the outlooks to positive reflects Ardellis’ favorable operating performance, with loss and expense ratio metrics outperforming the general property/casualty industry over several years. The favorable loss ratios are attributable to Ardellis’ underwriting expertise and a consistent approach to loss control and safety practices. The low expense ratios reflect the company’s low overhead. Approximately 40% of the company’s net written premiums currently come from its parent and the remainder from third party medical stop-loss. Ardellis experienced rapid growth in its third party medical stop-loss business over several recent years; however, this growth has moderated more recently. Both the affiliated business and the third party business are currently profitable.

AM Best expects Ardellis’ balance sheet strength to remain very strong, supported by the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). AM Best considers the company’s ERM framework and risk management capabilities appropriate for its risk profile. Further, Ardellis benefits from being an integral part of its ultimate parent’s ERM framework.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Adrienne Stark
Senior Financial Analyst
+1 908 439 2200, ext. 5526
adrienne.stark@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jieqiu Fan
Senior Financial Analyst
+1 908 439 2200, ext. 5372
jieqiu.fan@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business Technology

Goose Island UK and AeroFarms partner to launch Hail Hydro, a session IPA, to advance sustainable brewing

Brewed with hops grown indoors by AeroFarms and its proprietary vertical farming technology platform

 

NEWARK, N.J. — (BUSINESS WIRE) — Goose Island UK and AeroFarms®, a certified B Corporation and leader in indoor vertical farming have unveiled today Hail Hydro – a brand new session IPA made from groundbreaking hydroponic hops grown indoors by AeroFarms, who is focused on elevating agriculture around the world and helping address some of our most pressing agriculture supply-chain challenges.


Hail Hydro is the latest beer in Goose Island’s Impossible IPA series – a new selection of beers which embrace the creation of new recipes using innovative hops and techniques. The 4.7% hazy session IPA utilizes hydroponic hops grown at AeroFarms’ global headquarters in Newark, New Jersey, U.S.A., where AeroFarms has over 100,000 square feet of indoor vertical farming for both commercial and R&D production, utilizing methods that can yield up to 390 times greater productivity annually, while using up to 95% less water and zero pesticides versus traditional field farming.

Skipping the soil, the hydro-cascade hops are submerged in a growing medium that supports and nourishes the roots of the plant with nutrient-rich water through AeroFarms’ indoor vertical farming technology platform. This method allows hops to be grown anywhere in the world, at any time of the year with consistent results, and to generate higher yields with fewer resources. With growing seasons and outdoor climate conditions in a major flux right now, hydroponic hops grown in AeroFarms indoor vertical farms for elevated resilience and flavor are undoubtedly the future, and a groundbreaking development in the beer world.

In terms of flavor notes, the beer packs a refreshing citrus punch with hints of lemon and lime, hitting all the right notes when it comes to Session IPAs, clocking in at a delicious 4.7% abv. Fresh and zingy, it tastes as bright as the future of agriculture. Consumers will be able to scan a QR code on the can’s packaging that will take them to a farm tour of AeroFarms’ unique growing indoor vertical technology.

Hail Hydro is available in limited supply now, only on the Goose Island UK Webstore. www.gooseislandshop.com

“Hydroponically cultivated hops are an exciting prospect, and the potential innovation opportunities and sustainable benefits are exciting for the craft community,” said Joe Bevan Innovation Brewer Goose Island UK. “Brewing with the cascade was a new experience for us! We saw zingy lime, soft lemon, and a subtle resinous from the hydroponically grown hops.”

“AeroFarms is proud to have partnered with Goose Island UK and the broader Anheuser-Busch InBev team for more than a year to demonstrate our unique growing capabilities,” commented David Rosenberg, Co Founder & CEO of AeroFarms. “We have succeeded in growing mature hops as well as propagating high-quality rhizomes, designed to improve field production of hops. The hops used in Hail Hydro were grown in our completely controlled environment, hydroponically with no pesticides, using blue and white lights in place of sunlight to grow the best plants possible. It has been an incredible partnership, bringing their long-time expertise in quality brewing to our research commercialization collaboration. Together, AeroFarms’ R&D group and Goose Island UK are demonstrating the promise of a new premium product, pairing master brewing with premium hops that can be grown year-round indoors.”

About Goose Island

Established in Chicago in 1988, Goose Island is known for award winning, expertly crafted beers. From flagship brews like the award-winning Goose IPA to Bourbon County Brand Stout, Goose Island endeavors to brew beers worthy of conversations, debates and celebrations – we don’t need to be the only beer you drink, we just want to be the best beer you drink.

About AeroFarms

Since 2004, AeroFarms has been leading the way for indoor vertical farming and championing transformational innovation for agriculture. On a mission to grow the best plants possible for the betterment of humanity, AeroFarms is a Certified B Corporation with global headquarters in Newark, New Jersey. Named one of the World’s Most Innovative Companies by Fast Company two years in a row and one of TIME’s Best Inventions in Food, AeroFarms patented, award-winning indoor vertical farming technology provides the perfect conditions for healthy plants to thrive, taking agriculture to a new level of precision, food safety, and productivity while using up to 95% less water and no pesticides ever versus traditional field farming. AeroFarms enables local production to safely grow all year round, using vertical farming for elevated flavor.™ In addition, through its proprietary growing technology platform, AeroFarms has grown over 550 varieties, has innovated in speed breeding, and has developed multi-year strategic partnerships ranging from government to major Fortune 500 companies to help uniquely solve agriculture supply chain needs. For additional information, visit: https://aerofarms.com/.

On March 26, 2021, AeroFarms announced a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV). Upon the closing of the business combination, AeroFarms will become publicly traded on Nasdaq under the new ticker symbol “ARFM”. Additional information about the transaction can be viewed here: https://aerofarms.com/investors/.

No Offer or Solicitation

This press release does not constitute an offer to sell or a solicitation of an offer to buy, or the solicitation of any vote or approval in any jurisdiction in connection with a proposed potential business combination among Spring Valley and AeroFarms or any related transactions, nor shall there be any sale, issuance or transfer of securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful. Any offering of securities or solicitation of votes regarding the proposed transaction will be made only by means of a proxy statement/prospectus that complies with applicable rules and regulations promulgated under the Securities Act of 1933, as amended (the “Securities Act”), and Securities Exchange Act of 1934, as amended, or pursuant to an exemption from the Securities Act or in a transaction not subject to the registration requirements of the Securities Act.

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “might,” “will,” “estimate,” “continue,” “contemplate,” “anticipate,” “intend,” “expect,” “should,” “would,” “could,” “plan,” “predict,” “project,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, including those regarding Spring Valley’s proposed acquisition of AeroFarms are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of AeroFarms and Spring Valley 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 as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of AeroFarms and Spring Valley. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed transaction or that the approval of the stockholders of Spring Valley or AeroFarms is not obtained; failure to realize the anticipated benefits of the proposed transaction; risks related to the expansion of AeroFarms’ business and the timing of expected business milestones; the effects of competition on AeroFarms’ business; the ability of Spring Valley or AeroFarms to issue equity or equity-linked securities or obtain debt financing in connection with the proposed transaction or in the future, and those factors discussed in Spring Valley’s Annual Report on Form 10-K, Quarterly Report on Form 10-Q, final prospectus dated November 25, 2020 and definitive proxy statement/prospectus dated July 26, 2021 under the heading “Risk Factors,” and other documents Spring Valley has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Spring Valley nor AeroFarms presently know, or that Spring Valley nor AeroFarms currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Spring Valley’s and AeroFarms’ expectations, plans, or forecasts of future events and views as of the date of this press release. Spring Valley and AeroFarms anticipate that subsequent events and developments will cause Spring Valley’s and AeroFarms’ assessments to change. However, while Spring Valley and AeroFarms may elect to update these forward-looking statements at some point in the future, Spring Valley and AeroFarms specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Spring Valley’s and AeroFarms’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts

Goose Island Media Contact at The Zeitgeist Agency – Elliot.Mitchell@zeitgeist.co.uk
AeroFarms Media Contact – MarcOshima@AeroFarms.com
AeroFarms IR Contact – Jeff.Sonnek@icrinc.com