BILLERICA, Mass., December 14, 2021 (GLOBE NEWSWIRE) – Agrify Corporation (Nasdaq: AGFY) (“Agrify” or the “Company”), the world’s most innovative and vertically integrated provider of top growing and extraction solutions. range for the cannabis and hemp industry, today announced the appointment of Barry Turkanis as an independent director to its board of directors. Mr. Turkanis replaces Timothy Oakes, who recently resigned from the board to become the company’s chief financial officer. Mr. Turkanis will also serve on the Audit Committee of the Board of Directors as well as its Nomination and Corporate Governance Committee.

“As we continue to build momentum and mobilize for our next phase of accelerated growth, we’ve made it our top priority to align with the right partners, and the addition of Barry to the board of directors of ‘Agrify is another example of our commitment to building a truly exemplary support system, ”said Raymond Chang, Chairman and CEO of Agrify. “Barry has had a long and illustrious career, including more than 15 years with Goldman Sachs, and his extensive accomplishments in finance, private equity, venture capital and real estate will make him a tremendous resource. for our team. Additionally, Barry’s extensive knowledge of asset-backed and mortgage-backed securities should help us improve the execution of future Agrify turnkey transactions in a variety of ways, including structuring, compliance, financing by alternative third parties, securitization and management and support.

Mr. Turkanis has had a very successful career in institutional sales and commerce with over 22 years of experience with Salomon Brothers and Goldman Sachs. At Goldman Sachs, Mr. Turkanis has held a number of leadership roles over his more than 15 years of service, including Managing Director of the Fixed Income, Currencies and Commodities division and co-head of the Asset Backed Securities department. mortgage claims. Mr. Turkanis subsequently co-founded Ocean Gate Capital Management, which deals with fund management, private equity and real estate development, and continues to serve as the director of the company to this day. . Most recently, Mr. Turkanis co-founded NXT Ventures Management, a venture capital firm with investments in over 40 portfolio companies. Mr. Turkanis is a board member or observer of several emerging companies, and he is also actively involved with a number of charitable organizations in the Boston area. Mr. Turkanis holds a BS from Syracuse University and a JD from Boston College Law School.

About Agrify (Nasdaq: AGFY)

Agrify is the most innovative and vertically integrated provider of premium cultivation and extraction solutions for the cannabis and hemp industry. Our proprietary Micro-Environment Controlled Vertical Agriculture (VFU) units enable our customers to produce the highest quality products with unmatched consistency, yield and return on investment at scale. Agrify brings data, science and technology to its customers for unprecedented control over cultivation and extraction. For more information, please visit Agrify at http://www.agrify.com, and Precision Extraction, a division of Agrify, at http://www.precisionextraction.com.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to Agrify and other matters. All statements in this press release that do not relate to historical facts should be considered as forward-looking statements, including, without limitation, statements regarding our revenue growth, profitability, future prospects. and our financial performance. In some cases, you can identify forward-looking statements by words such as “may”, “will”, “should”, “expects”, “plans”, “anticipates”, “may”, “has the” intention “,” objectives, “” plans “,” envisages “,” believes “,” estimates “,” predicts “,” potential “or” continuing “or the negative of these or other similar expressions. contained in this press release are predictions only. We have based these forward-looking statements in large part on our current expectations and projections regarding future events and financial trends that we believe could affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements to differ materially from results. s, future performance or achievements expressed or implied by forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in our annual report on Form 10-K filed for the fiscal year ended December 31, 2020 with the SEC, which can be obtained from the SEC’s website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. You are, however, advised to review any other disclosures we make on related matters in our public announcements and documents filed with the SEC.

Company contacts

Agrify
Timothy oakes
Financial director
[email protected]
(351) 777-6585

Investor Relations
Anna kate heller
RIC
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c7261cca-ce23-4c28-8203-6e0c3fd72f8d