LISHUI, China, Sept. 29, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today issued a CEO update letter detailing an expansion of the Company's addressable market through an acquisition, and its expectation for increased growth and expanded opportunities. The full text of the CEO letter follows:
September 29, 2021
Dear Shareholders,
Farmmi has made tremendous progress over the past 20 years, as we have built an industry leading agricultural brand specializing in the production, processing, marketing and research of edible fungi products. In addition to continuing deep cultivation of edible fungi, we are constantly evaluating strategic options to optimize and expand our business. We thank our investors for your continued support as we continue to execute our business strategy and navigate the added recent complexities related to the global pandemic, logistics challenges and supply chain constraints across all industries.
We are in an even stronger position today than at any time in our history, with improved financial results, a broader product line, an even stronger balance sheet, and significantly more meaningful long-term growth opportunities. Our capital raises in 2021 have provided the momentum we needed to reach many of the goals we have set for the near term. While we are encouraged by Farmmi's prior achievements, we are even more excited about the future as we enter a new phase of accelerating growth.
Some of the bold steps we are taking to create greater value for the Company and all Shareholders today and in the future include:
Taken together, we are excited to be in a new phase of growth for Farmmi. We are actively pursuing an expanded business strategy, with greater opportunities for revenue and profit growth, that builds on the strong platform and demand we are continuing to benefit from in the edible fungi market worldwide. We appreciate and are thankful for the support of our shareholders, as we remain focused on driving revenue and profit growth, and creating even greater value for Farmmi and all shareholders.
The above strategic upgrading and industrial layout involves the fields of "Base - Processing - Supply chain - Medical and health". Through continuous expansion and optimization, Farmmi will focus on its main business advantages, continuously extend the industrial chain, accelerate the layout of the Company's big health ecological industrial system, improve profitability, and work to achieve steady development. We believe that after the completion of the above strategic layout, the Company will stride to a new stage of development focused on driving revenue and profit growth, and creating even greater value for Farmmi and all shareholders.
Thank you again to all Shareholders,
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO
About Farmmi, Inc.
Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is an agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi and other agricultural products. For further information about the Company, please visit: .
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, including the potential impact of COVID-19 on our business within and outside of China and the size of the worldwide mushroom market. 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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