TORONTO, Oct. 5, 2022 /CNW/ – Elevate Farms Inc. (“Elevate” or “Elevate Farms“), a tech-based vertical farming company focused on cost-effectively growing leafy green vegetables at mass scale, wishes to announce that, as of October 3, 2022, the company has raised in excess of C$26 million in 2022 (“Financing“) consisting of equity and secured project finance through a series of investments worldwide. The Financing was again anchored by long-time supporter, Brightspark Capital Inc. (“Brightspark“), a veteran venture capital firm based in Montreal and Toronto, Canada and represented on the Elevate Farms Board by founding Partner Mark Skapinker.
Amin Jadavji, CEO, Elevate Farms, stated “Brightspark’s return as a significant investor in our most successful period of fundraising, along with the election of Douglas Janzen to our Board at the last meeting of shareholders, speaks to the exceptional growth of profile and institutional support, both internally and externally, Elevate has received in the capital markets industry. We are now exceptionally well capitalized and buoyed by outstanding institutional backing through commercial and corporate governance expertise.”
”The farming industry is going through massive changes as the effects of weather change, standardization and modernization are rapidly becoming reality,” said Mark Skapinker, Partner at Brightspark. “Elevate Farms’ solution addresses the market need and its unique approach sets it up for market leadership. We are very excited by the prospects of the company.”
Also, on September 20 2022, Elevate is proud have been affirmed as a founding and leading member of the Vertical Farming World Congress being one of the first farming companies to sign the Vertical Farming Manifesto highlighting the impact and contribution the industry intends to make to transform current food systems and help to solve one of humanity’s toughest challenges of providing food for a growing population in a sustainable, circular way. Amin Jadavji, noted “Elevate Farms has been committed to developing food production systems designed to produce a high volume of leafy greens at a competitive cost. We are excited to be part of the solution to use emerging technology in order to feed people for a sustainable future.”
More information on the Vertical Farming Manifesto may be found here <https://www.infarm.com/wp-content/uploads/2022/09/vertical-farming-manifesto.pdf> and well as more information on the Vertical Farming World Congress Vertical Farming Identity Statement here <https://www.infarm.com/wp-content/uploads/2022/09/vertical-farming-identity-statement.pdf>.
ABOUT ELEVATE FARMS
Elevate Farms Inc., a patented technology-driven vertically-stacked indoor farming enterprise, is developing high-yield and competitively priced leafy-green food production systems towards realizing a safe and sustainable future. With well over a decade of advanced photobiology research already deployed Elevate Farms has built farms in several countries on multiple continents and offers a truly scalable global solution.
<www.elevate.farm>
About Brightspark Ventures
Brightspark is a top performing Canadian early-stage venture firm, actively investing in exceptional entrepreneurs since 1999. They are known to partner early with founders, and to provide capital and support for the long-run. Brightspark manages over $500M across traditional VC Funds, and more recently under an syndicate investment model open to individual and non-institutional investors.
<www.brightspark.com>
SOURCE Elevate Farms Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2022/05/c1925.html
Tesla (NASDAQ: TSLA) shares have now plunged more than 20% in less than 20 days. There are several reasons for that, but a new catalyst now has the drop gaining momentum. Today's move lower was sparked by the news that Tesla CEO Elon Musk has reversed course and now intends to follow through with his bid to purchase Twitter for his original offer price of $54.20 per share.
Shares of AMC Entertainment Holdings (NYSE: AMC) are tumbling 9.1% at 11:06 a.m. ET on Wednesday after defunct gold and silver miner Hycroft Mining (NASDAQ: HYMC) reported it received a delisting notice from the Nasdaq Stock Market. AMC surprised investors earlier this year by taking a 22% stake in Hycroft in exchange for a $28 million cash infusion. Metals investor Eric Sprott invested a similar amount into Hycroft in return for the same percentage ownership position.
DEEP DIVE When the stock market has jumped two days in a row, as it has now, it is easy to become complacent. But the Federal Reserve isn’t finished raising interest rates, and recession talk abounds.
The volatile market has investors playing it safe.
These two stocks are among the riskiest in the Berkshire Hathaway portfolio, but they could be huge winners.
Shell (SHEL), Chevron (CVX), Cheniere Energy (LNG), Kinder Morgan (KMI) and Energy Transfer (ET) are going to benefit from the increasing global demand for liquified natural gas.
Chip stocks have had a brutal ride in 2022. The tables have turned on a sector particularly sensitive to cycles; after seeing outsized growth during the pandemic, and despite the global chip shortage, waning demand has seen many in the segment hit hard. Factor in some lofty valuations, a slowing economy and fears of a full-blown recession and the result is the SOX (the main Semiconductor index) is down by 38% year-to-date. That said, there are many good companies operating in the space whose sha
Yahoo Finance Live's Akiko Fujita discusses stock performance for General Motors after Morgan Stanley slashes its price target.
A war in Europe and the subsequent energy crisis it's causing would be enough to tank global stock markets in any given year. On top of Russia's invasion of Ukraine, markets are also reeling from rapidly rising interest rates intended to quell runaway inflation. Once you consider all the challenges stock markets face, it's a little surprising that the benchmark S&P 500 index has only lost around 25% of its value this year.
Shares of the video streaming platform company Roku (NASDAQ: ROKU) were sliding today, reversing their gains from yesterday. Investors appear to be reacting to some jobs data that indicated that the labor market is still resilient. A strong labor market could encourage the Federal Reserve to keep raising interest rates.
Lumen Technologies shares tumbled Wednesday after an analyst at Wells Fargo cited concerns over risks to the telecommunication company’s dividend. Wells Fargo analyst Eric Luebchow downgraded shares of Lumen (ticker: LUMN) to Equal Weight from Overweight and cut his12-month price target to $8 from $12.50. Shares of Lumen fell 10% Wednesday to $7.22 and were on track for their lowest close since September 1991.
Here's why stocks have come out of the gate with gusto to kick off the fourth quarter.
The e-commerce giant has just made a decision that suggests the health of the economy is not improving.
You can hold on to Series I bonds for 30 years, but if you jumped in when the interest rate skyrocketed to 9.62%, you might be looking for an off-ramp well before then. The total return on I-bonds is made up of two parts — a fixed rate that’s set at the time of purchase and an inflation-adjusted rate that resets every six months, in November and May. The fixed rate has been 0% since May 2020. Looking at numbers already published, David Enna, founder of TipsWatch.com, a website that tracks inflation-protected securities, predicts the variable inflation-adjusted portion of the I-bonds formula will be around 6.3%, and likely fall to 3.5% eventually.
Bear markets can test an investor's patience. The average bear market lasts about nine and a half months, so we probably still have a long way to go. In times like this, many investors fall into the trap of not wanting to lose more money, so they quit buying.
Yahoo Finance's Brian Sozzi and Brad Smith discuss Macquarie's call on Carnival Cruise Line and the outlook for other cruise stocks.
Yahoo Finance’s Jared Blikre breaks down how markets opened on Wednesday.
Stocks trading at low prices are easily accessible to a wide pool of investors (i.e., no need to buy fractional shares), which can lead to more liquidity and a faster-moving stock. One way to increase the odds of success with these low-priced stocks is to invest in companies with significant growth opportunities. Two stocks trading at less than $10 a share that growth investors will want to consider buying for the long haul are Ginkgo Bioworks (NYSE: DNA) and Palantir Technologies (NYSE: PLTR).
Today's video focuses on Advanced Micro Devices (NASDAQ: AMD), Nvidia (NASDAQ: NVDA), Qualcomm (NASDAQ: QCOM), Texas Instruments (NASDAQ: TXN), and a closer look at future revenue growth expectations and valuation metrics.
Altria's dividend yield may sound too good to be true, but investors should take a closer look at its financials and business.