LISHUI, China, July 22,
2024 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the
"Company") (NASDAQ: FAMI), an agriculture products supplier in
China, today announced the
Company's subsidiary, FARMMI USA
INC., has signed a sublease agreement and acquired the right to use
a large distribution and storage center in United States to further expand its global
business. This marks a significant development for Farmmi's U.S.
operations.
Pursuant to the agreement, Farmmi USA Inc. has the right to use the leased
premises of the storage center located in Los Angeles area, California, which is managed by Ryder Truck
Rental inc., a subsidiary of Ryder System, Inc., a leading
logistics and transportation company in the U.S. (NYSE: R). The
facility spans a total area of 636,000 square feet, with
warehouse space covering 315,000 square feet. It also includes a
dedicated rail line, enabling sea-rail intermodal transportation.
The facility will serve as the major distribution and storage
center for the Farmmi group.
Ms. Yefang Zhang, Farmmi's
Chairwoman and CEO, stated that the company has been committed to
increasing its global present in recent years. Obtaining the right
to use a large storage center represents a major breakthrough
towards the company's globalization goals and is a milestone
achievement. Leveraging this facility, Farmmi, Inc. aims to further
expand international cooperation and create greater value for its
shareholders.
About Farmmi, Inc.
Established in 1998, Farmmi Inc. (Nasdaq: FAMI) is an
agricultural products supplier, processor and retailer of edible
mushrooms like Shiitake and Mu Er, as well as other agricultural
products. Farmmi sells its products both online and offline. For
further information about the Company, please visit Farmmi's
website.
Forward-Looking Statements
No statement made in this press release should be interpreted as
an offer to purchase or sell any security. Such an offer can only
be made in accordance with the Securities Act of 1933, as amended,
and applicable state securities laws. Certain statements in this
press release concerning our future growth prospects are
forward-looking statements regarding our future business
expectations and intended to qualify for the "safe harbor" under
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in such forward-looking statements. The risks and
uncertainties relating to these statements include, but are not
limited to, risks and uncertainties regarding lingering effects of
the Covid-19 pandemic on our customers' businesses and our end
purchasers' disposable income, our ability to raise capital on any
particular terms, fulfillment of customer orders, fluctuations in
earnings, fluctuations in foreign exchange rates, our ability to
manage growth, our ability to realize revenue from expanded
operation and acquired assets in China, our ability to attract and retain
skilled professionals, client concentration, industry segment
concentration, and general economic conditions affecting our
industry. Additional risks that could affect our future operating
results are more fully described in our United States Securities
and Exchange Commission filings. These filings are available at
www.sec.gov. Farmmi may, from time to time, make additional written
and oral forward-looking statements, including statements contained
in the Company's filings with the Securities and Exchange
Commission and our reports to shareholders. In addition, please
note that any forward-looking statements contained herein are based
on assumptions that we believe to be reasonable as of the date of
this press release. The Company does not undertake to update any
forward-looking statements that may be made from time to time by or
on behalf of the Company unless it is required by law.
For more information, please contact Investor
Relations:
Farmmi, Inc.
Investor Relations
Tel: +86-0578-82612876
ir@farmmi.com
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SOURCE Farmmi, Inc.
