AgJunction Announces Strategic Partnership with Farmer’s Business Network, Inc.
SCOTTSDALE, Ariz., Oct. 22, 2019 (GLOBE NEWSWIRE) — AgJunction Inc. (TSX: AJX) (AgJunction), the Autosteering Company™, has entered into a strategic, two-year partnership with Farmer’s Business Network, Inc. (FBN) to list its Wheelman® autosteering solutions directly on the FBN platform.
FBN is an independent farmer-to-farmer network where its nearly 9,000 members utilize a comprehensive agriculture data and price sharing platform to better understand the current state of the market and improve their farm’s financial performance. Similar to AgJunction, FBN eliminates the need for farmers to visit a dealer when purchasing seeds or chemicals by offering these products directly on its e-commerce platform, providing a significant cost advantage for end users that is easy and convenient. The partnership will allow AgJunction to introduce its Wheelman autosteering solutions to nearly 9,000 FBN members through various strategic channels within the network’s framework. The Wheelman Pro and Flex, which are currently sold directly to farmers on HandsFreeFarm.com, will now be listed on the Marketplace section of FBN’s platform. The partnership also enables AgJunction to participate in FBN’s community outreach events held in local ag communities.“AgJunction and FBN synergistically align with each other as both companies look to disrupt the agriculture industry through unique business models driven by innovative technology and cost-effective pricing strategies,” said Shannon Diem, senior director of marketing at AgJunction. “Our goal is to bring our core autosteering technologies to all farmers, especially those farming on 1,000 acres or less, through our Wheelman products. The partnership with FBN builds on that mission and further expands our reach to farmers who will be able to purchase our products through FBN’s Marketplace channel. We believe these farmers can significantly benefit from our affordable, easy-to-use Wheelman products, which reduce input costs, increase farming efficiencies and bolster crop yield.”Charles Baron, co-founder of FBN, commented: “AgJunction has been a pioneer in making autosteering easy-to-use, cost effective and more widely accessible for farms of all types. We’re excited to bring Wheelman products directly to our members to upgrade their machinery productivity.”The Wheelman Pro and Flex will be listed on the FBN platform starting today.About Farmer’s Business Network, Inc.
Farmer’s Business Network, Inc. is an independent farmer-to-farmer network, built by and for farmers, representing Farmers First®. FBN members receive comprehensive farm benchmarking, real world seed performance, input optimization and pricing analytics based on over 220 million acre events of real-world precision agronomic data. The FBN Direct e-commerce platform provides national, transparent pricing on ag chemicals, fertilizers, seeds, technology and services. FBN Crop Marketing provides farms premium contracts, production contracts, risk management, and price intelligence powered by a global buyer network.The FBN network has grown to cover more than 33 million acres of member farms in the U.S. and Canada. Blending the best of Midwestern agricultural roots and Silicon Valley technology, the company has offices in San Carlos, Calif, and a National Operations Center in Sioux Falls, S.D., and employees spanning 44 states and Canadian provinces.The FBN Network’s mission of creating a better farm economy has earned the support of world-class technology investors GV (formerly Google Ventures), DBL Partners, Kleiner Perkins Caufield Byers LLP, Bow Capital, Acre Venture Partners, Temasek, and T. Rowe Price. To learn more, visit: www.fbn.com and follow @FBNfarmers.About AgJunction
AgJunction Inc., the Autosteering Company™ is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world’s leading precision Ag manufacturers and solution providers and it holds approximately 200 patents and patents pending. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman®, Whirl™ and HandsFreeFarm® and is committed to advancing its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction is headquartered in Scottsdale, Arizona, and is listed on the Toronto Stock Exchange (TSX) under the symbol “AJX.” For more information, please go to AgJunction.com.Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of AgJunction as of the date of this news release, unless otherwise stated. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information. These statements are only predictions and actual events or results may differ materially. Although the Company’s management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance or achievement since such expectations are inherently subject to significant business, economic, competitive and political uncertainties and contingencies. In particular, forward-looking statements in this press release include, but are not limited to statements with respect to: the Company’s vision with respect to autosteering for farmers and the expectation that regular updates will be pushed out to the app ensuring farmers can always operate their Wheelman products with the most up-to-date technology. Accordingly, readers should not place undue reliance on such forward-looking information contained in this press release.In respect of the forward-looking information, AgJunction has provided such information in reliance on certain assumptions that it believes are reasonable at this time, including, but not limited to, the sufficiency of budgeted capital expenditures in carrying out planned activities; that AgJunction’s future results of operations will be consistent with management expectations in relation thereto; availability of key supplies, components, services, networks and developments; the impact of increasing competition; conditions in general economic, agricultural and financial markets; demand for the Company’s products; and the continuity of existing business relationships.Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which AgJunction operates; competition; inability to introduce new technology and new products in a timely manner; legal claims for the infringement of intellectual property and other claims; negative conditions in general economic, agricultural and financial markets; and reduced demand for the Company’s products. Readers are cautioned that the foregoing list of factors is not exhaustive.Additional information on other factors that could affect the Company’s operations or financial results, are included in reports of AgJunction on file with applicable securities regulatory authorities, including but not limited to, AgJunction’s Annual Information Form which may be accessed on its SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and AgJunction undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.Farmer’s Business Network Contact:
Jeff Morris, Corporate Communications, AgJunction
Gateway Investor Relations
Cody Slach, Managing Director