Farmmi Boosts Growth with Latest Multi-Product Sales Win

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May 05, 2021, 08:00 ET

LISHUI, China, May 5, 2021 /PRNewswire/ --Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its subsidiary Zhejiang Forest Food Co., Ltd., won another multi-product order for export to Japan for the Company's high-quality, richly flavored dried mushrooms, and dried black fungus. This latest win is a repeat order from an existing customer based in Japan as Farmmi continues to boost its growth and benefit from strong global demand for mushrooms.

The New York Times, recently reported, "Mushrooms are showing up in all sorts of wellness products, pushing them into the mainstream and making mushrooms a major force in the flourishing, multi-billion dollar wellness market." (source: "The Mushroom Boom", The New York Times, April 25, 2021)

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "As a major company in the mushroom industry, we have been big proponents of the culinary delights, and the many potential wellness benefits, such a vitamin and nutritious rich food can bring to a healthy lifestyle. We are pleased to see mushrooms now taking an even more prominent role in restaurants, households and wellness centers, as the prioritization of healthier lifestyles drives increased sales and demand. At Farmmi, we are encouraged with our significant progress but even more excited about the Company's future. We are moving forward with greater confidence having recently strengthened our balance sheet through an underwritten public offering. This gives us the improved financial strength needed to now move into an accelerated growth phase, with the support of an even more robust integrated supply chain and sales network."

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 other agricultural products. For further information about the Company, 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, including the potential impact of COVID-19 on our business within and outside of China. 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.

SOURCE Farmmi, Inc.