Farmmi Inc.

08/19/2019 | Press release | Distributed by Public on 08/19/2019 04:14

Farmmi Partners to Launch Farmmi Baba Yipinlv Organic Farm Project

LISHUI, China, Aug. 19, 2019 /PRNewswire/ -- Farmmi, Inc. (NASDAQ: FAMI), a leading agriculture products supplier in China, today announced the launch of the Farmmi Baba Yipinlv Organic Farm Project. The project is being jointly carried out by Farmmi's subsidiary, Hangzhou Nongyuan Network Technology Co., Ltd ('Nongyuan'), and Tongxiang Yipinlv Family Farm Co., Ltd ('Yipinlv'), which is engaged in the cultivation and sale of vegetables, fruits, food crops, flowers, and the cultivation and sale of aquatic products.

The Farmmi Baba Yipinlv Organic Farm Project (the 'Farm') covers more than 18 acres and is located in Tongxiang City of Zhejiang Province. The Farm focuses on enabling domestic and foreign consumers to better experience and enjoy high quality agricultural products. In addition to consumption, the Farm will serve as a base for the popular immersive entertainment experience called 'Agritainment' or farm-based tourism. This will include family friendly activities, ranging from educational opportunities and vegetable picking to seasonal activities. The Farm will also boast green, ecological breeding of native chickens, with fresh eggs available for purchase.

Yefang Zhang, Farmmi Chair and CEO, stated, 'With so many consumers adopting healthy lifestyles, there is considerable demand for education and immersive experiences starting at the initial farm level. In order to make this venture successful, the Farm will be hiring organic specialists to provide technical guidance to create a professional, standardized and typical organic farm demonstration base. Customers will be able to enjoy high-quality agricultural products while directly interacting with the farm and its green, ecological and organic culture. In the next phase, we will actively develop regional cooperations and product marketing strategies, to leverage the Farmmi Liangpin mall's cross-border, e-commerce platform. We plan to expand and improve marketing channels, as we concentrate on providing healthier, high-quality, safe agricultural products to Chinese and foreign consumers. We also plan to make full use of modern information technology and data systems foster the tourism + new e-commerce model.'

About Farmmi, Inc.

Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is a leading agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi, and many other sought-after agricultural products. The Company's Farmmi Liangpin Market is serves as a global trading platform for Chinese geographical indication agricultural products and is a one of the largest platforms for consumers to access locally sourced agricultural products. For further information, please visit: http://ir.farmmi.com.cn/.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

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SOURCE Farmmi, Inc.

David Pasquale, Global IR Partners, New York Office: +1-914-337-8801, [email protected]