Digging into Growth: Edible Garden’s Warrant Exercise Nets $3 Million in Gross Proceeds!

BELVIDERE, N.J., Dec. 23, 2024 (GLOBE NEWSWIRE) —

Edible Garden AG Incorporated (“Edible Garden” or the “Company”) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, announced today that it has entered into an agreement with a single institutional investor that is an existing holder of its warrants wherein the investor agreed to exercise 8,330,000 outstanding Class B Warrants (the “Existing Warrants”) to purchase an aggregate of 8,330,000 shares of common stock for cash at the exercise price of $0.36 per share. These warrants were previously issued in a public offering which closed in September 2024.

Edible Garden’s recent agreement with the institutional investor to exercise the existing warrants has resulted in a substantial gross proceeds of $3 million. This influx of capital will enable the company to further invest in its controlled environment agriculture technology, expand its product line, and enhance its market presence.

How this Will Affect Me:

As a consumer, you may benefit from Edible Garden’s expansion and investment in technology. This could lead to an increase in the availability of locally grown, organic, and sustainable produce in the market. With a growing focus on healthy eating and environmental sustainability, Edible Garden’s products may align with your preferences and values.

How this Will Affect the World:

Edible Garden’s growth and success in the controlled environment agriculture industry can have a positive impact on the world. By promoting locally grown, organic, and sustainable produce, the company is contributing to environmental sustainability and reducing carbon footprints associated with long-distance food transportation. Additionally, Edible Garden’s emphasis on controlled environment agriculture technology can inspire advancements in this field and lead to more efficient and eco-friendly farming practices globally.

Conclusion:

Overall, Edible Garden’s warrant exercise resulting in $3 million in gross proceeds signifies a significant step towards the company’s growth and expansion in the controlled environment agriculture industry. As a consumer, you may benefit from increased availability of locally grown, organic, and sustainable produce, while the world at large stands to gain from advancements in environmentally-friendly farming practices. Keep an eye on Edible Garden as it continues to innovate and lead in the sustainable agriculture sector.