DEPUTY SPEAKER OF ISRAEL’S PARLIAMENT AGREES, INVESTING IN SAFFRON COULD BREAK IRAN’S MONOPOLY

Image 1

Image 1

Image 2

Image 2

In a recent televised broadcast, Mr. Zvi Houzer revealed the development of Sativus Corp’s newest farm in Golan Heights, a move that advances the company closer to creating a commercial supply of saffron that could disrupt Iran’s centuries long monopoly.

Tel Aviv, Israel, Jan. 06, 2022 (GLOBE NEWSWIRE) — Sativus Tech Corp (OTC: SEDOD/Effective 1/10/2022 OTC: SATT), the first-ever AgTech company that is developing the protocols to grow saffron using vertical farming technology, was the topic of a vigorous discussion during a parliamenary session in Israel. The  Deputy Speaker of the Knesset (Israeli Parliament), Mr. Zvi Houzer, spoke about a “global breakthrough in growing saffron.” Though not mentioned by name, Sativus Tech’s subsidiary, Saffron Tech Ltd (“Saffron Tech”) confirmed after the broadcast that they in fact did recently plant sativus corms (bulbs) for saffron in a new outdoor farm in the Golan. This new supply of saffron bulbs supports Saffron Tech, and its R&D efforts to grow saffron in vertical farms.

“We are thrilled that our mission and its importance in the global marketplace is getting noticed,” says Tal Wilk Glazer, CEO of Saffron Tech. “Developing the protocols to grow saffron in vertical farms is a complex and lengthy process with technological and agricultural challenges. We are aiming to streamline this process to establish a reliable and continuous supply of the most coveted spice in the world.”

Approximately 25,000 saffron bulbs were planted in the agriculturally rich Golan Heights. The outdoor farm is being managed by the Shamir Research Institute; a leading research institute operated under the University of Haifa.

Sativus Tech Corp recently announced that it has begun construction on a new vertical farm that is significantly larger than the company’s first farm and equipped with state-of-the-art machinery designed for precision climate control. The new farm will enable the company to advance its research and development of the protocols for vertically farming of saffron. Sativus Tech Corp expects to complete the construction during the first quarter of 2022 and to have the growing protocols complete by the end of 2022.

Saffron’s market growth is currently hindered due to a complicated supply chain and the low annual production of the spice through traditional farming practices. Iran currently dominates saffron production retaining over 90% of the global market. Saffron Tech wants to produce saffron year-round in a reliable and controlled environment to expand the market in multiple sectors including pharmaceutical, culinary, beauty and wellness. 

Mr. Houzer’s full remarks are available at the following link: https://www.linkedin.com/feed/update/urn:li:activity:6884884935790911488/

About Sativus Tech Corp:
Sativus Tech Corp (OTC: SEDOD/Effective 1/10/2022 OTC: SATT) is an AgTech company that uses advanced vertical farming technology to increase the production of low yield food products in the global marketplace. The company focuses on the research, development, and commercialization of agriculture products that are high in demand but scarce in the marketplace. Sativus Tech Corp’s subsidiary, Saffron Tech, is revolutionizing the AgTech world by creating the protocols to grow saffron in indoor vertical farms. It is also increasing the production of the spice by multiplying the number of annual harvests. Sativus Tech Corp’s technology offers a responsible and sustainable way to grow crops in a world confronted by environmental challenges and dwindling earth reserves, diminishing water sources and unstable weather conditions.

Cautionary Note Regarding Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks discussed in our Quarterly Reports on Form 10-Q and in our Annual Report on Form 10-K, including in the sections captioned “Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.



Attachments

• Image 1
• Image 2