Mr. Agustin Aldave reports

AGRINAM ACQUISITION CORPORATION EXTENDS PERMITTED TIMELINE

Agrinam Acquisition Corp. has exercised its second three-month extension option to extend its permitted timeline to complete a qualifying acquisition to March 15, 2024, by depositing an additional $400,000 (U.S.) in cash into escrow.

Agrinam previously announced that it had entered into a definitive business combination agreement with Agrinam Merger Sub, Inc., a wholly owned subsidiary of Agrinam and Freight Farms, Inc. ("Freight Farms"), a rapidly growing innovative agtech company and a leader in the global revolution for sustainable, hyper-local and ultra fresh food production, whereby Agrinam will acquire all of the issued and outstanding shares of Freight Farms by way of a triangular merger (the "Business Combination"). The Business Combination, which is expected to close in the first quarter of 2024, is anticipated to constitute Agrinam's qualifying acquisition under Part X of the Toronto Stock Exchange Company Manual.

Details of the Business Combination are included in Agrinam's preliminary non-offering prospectus that was filed on November 10, 2023 (the "Prospectus"). The Prospectus may be viewed by shareholders and interested parties under Agrinam's profile on SEDAR+.

About Agrinam Acquisition Corporation

Agrinam Acquisition Corporation is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination within a specified period of time.

About Freight FarmsFreight Farms debuted the first vertical hydroponic farm built inside an intermodal shipping container with the mission of democratizing and decentralizing the local production of fresh, healthy food. Since its inception, Freight Farms has refined its product offering to arrive at the Greenery container farm. With global customers ranging from small business farmers to the corporate, hospitality, retail, education, and nonprofit sectors, Freight Farms make up one of the largest network of IoT connected farms in the world. AgTech Breakthrough named Freight Farms the 2022 "IoT Monitoring Solution of the Year" for its farmhand IoT automation software.

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