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AgriFORCE Pops on Repurchasing Shares

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) shares grow sharply, as the an intellectual property (IP) focused AgTech company announces a share repurchase program.

The Company’s Board of Directors today authorized a share repurchase program under which the Company may repurchase up to $1 million of its outstanding common shares, for a period of six months, subject to contractual requirements. The Board will periodically review the Company’s Repurchase Program and may decide to extend its term or increase the authorized amount.

The specific timing and amount of repurchases, if any, will be at the discretion of the Company’s management team, and will depend upon a variety of factors, including market conditions, regulatory requirements, capital allocation alternatives, and other corporate considerations. The Company is not obligated under the program to purchase any common shares. The repurchase program may be suspended or discontinued at any time.

AgriFORCE is an AgTech company focused on building an integrated AgTech platform that combines the best technology, intellectual property, and knowledge to solve an urgent problem – providing the best solutions to help drive sustainable crops and nutritious food for people around the world.

AGRI jumped 2.6 cents, or 32.1%, to 11 cents.