Above Food Ingredients Inc. Announces Major Strategic Milestones, Merger Advancement with Palm Global, and Expected Profit Exceeding $30 Million for Fiscal Year Ended January 31, 2026
Above Food Ingredients Inc. Announces Major Strategic Milestones, Merger Advancement with Palm Global, and Expected Profit Exceeding $30 Million for Fiscal Year Ended January 31, 2026 |
| [28-November-2025] |
REGINA, SK, Nov. 28, 2025 /PRNewswire/ - Above Food Ingredients Inc. (NASDAQ: ABVE) ("Above Food" or the "Company") is pleased to provide shareholders with a significant corporate update highlighting the Company's ongoing audit process, transformative restructuring achievements, and continued advancement of its merger with Palm Global.
Audit Advancing Toward Completion Following the strategic appointment of a new auditor with specialized expertise in digital assettokenization and stablecoin infrastructure, the Company's audit is progressing toward completion and the targeted filing of its Form 20‑F by December 12, 2025. At this time, the Company has not applied for the additional 180‑day extension available under Nasdaq rules. Restructuring Success: Debt Eliminated, Profitability Secured In collaboration with Palm Global, Management has implemented a comprehensive restructuring program over the past year that has:
While the fiscal year ended January 31, 2025 will reflect a restructuring‑related loss, the Company is now firmly positioned for transformative success and enhanced shareholder value. Merger Integration Accelerating The operating relationship with Palm Global has strengthened considerably. Senior executive teams from both organizations have been working together to:
This collaboration has been highly productive, underscored by recent strategic meetings of the combined executive team in the UAE. These engagements have energized the Company, reinforced executive level alignment, and accelerated the pace of execution toward the upcoming merger. Looking Ahead The Company expects to release additional announcements in the near future outlining key milestones achieved within this partnership and the next steps in the completion of the merger process. Above Food remains extremely excited about the direction, momentum, and long-term value creation this combined platform is expected to deliver for shareholders. Lionel Kambeitz, Chief Executive Officer and Executive Chairman of Above Food, commented: "Above Food has reached yet another major milestone in its journey. With the successful elimination of corporate debt and the expected delivery of more than $30 million in profit for the fiscal year ending January 31, 2026, we have demonstrated the strength of our restructuring and set a new trajectory for the business. Our recent meetings with Palm Global in the UAE reaffirm the vast scale of their opportunities. The momentum generated through Palm Global is truly unprecedented, and we are extremely excited about the path forward as we look forward to sharing further updates in the near future." About Above Food Ingredients Inc. Cautionary Statement Regarding Forward-Looking Statements Forward-looking statements represent current judgments about possible future events, including, but not limited to statements regarding expectations or forecasts of business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs relating to the proposed transaction between Above Food and Palm Global, such as statements regarding the combined operations and prospects of Above Food and Palm Global, the current and projected market, growth opportunities and synergies for the combined company, the expected composition of the management and board of directors of the combined company, the expected trading of the combined company on the Nasdaq, the filing and approval of the Registration Statement and the Prospectus, and the timing and completion of the proposed transaction, including the satisfaction or waiver of all the required conditions thereto. Factors that could cause actual events to differ include, but are not limited to:
Forward-looking statements are based on the current expectations of Above Food's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider all of the risks and uncertainties described in the documents filed by Above Food with the United States Securities and Exchange Commission ("SEC"), which is available on EDGAR at www.sec.gov/edgar.shtml. There may be additional risks that Above Food presently does not know or that Above Food currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Above Food's expectations, plans or forecasts of future events and views as of the date of this communication. Above Food anticipates that subsequent events and developments will cause Above Food's assessments to change. However, while Above Food may elect to update these forward-looking statements in the future, Above Food specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Above Food's assessments as of any date subsequent to the date of this communication. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. It is possible that the Merger may not occur on the terms provided herein or in the Merger Agreement, on the expected timing or at all. In the event that the Merger is terminated Above Food may be liable to pay a termination fee to Palm Global, subject to the precise terms of the Merger Agreement. Additional Information and Where to Find It: INVESTORS AND SECURITY HOLDERS OF ABOVE FOOD ARE URGED TO READ THE DOCUMENTS FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ABOVE FOOD. Investors and security holders will be able to obtain free copies of the documents filed with the SEC by Above Food through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Above Food are also available free of charge on Above Food's website at https://abovefood.com or by contacting Above Food's Investor Relations Department at 2305 Victoria Ave #001, Regina, Saskatchewan, Canada, S4P 0S7.
SOURCE Above Food Ingredients Inc. | ||
Company Codes: NASDAQ-NMS:ABVE |
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