Tim Close, Plantro call on Ag Growth to effect immediate board changes

Tim Close and Plantro call upon the board of directors of Ag Growth (AGGZF) International to effect immediate Board changes and appoint two individuals, namely: Tim Close and Neil Desai. Collectively, the Concerned Shareholders own nearly 10% of the outstanding shares of the Company. The shareholders said, “The Concerned Shareholders also call upon the Board to schedule its upcoming 2026 annual meeting without delay, and include the Proposed Directors as nominees for election as directors. The Concerned Shareholders stand willing to engage with the Board in good faith to restore the confidence of shareholders by immediately appointing the Proposed Directors who will provide effective leadership and oversight of a strategic review and sales process to sell the entire Company. AGI’s share price performance over the past several years has materially lagged relevant industrial peers and broader equity markets, destroying substantial long-term value. Public market investors have demonstrated considerable patience through multiple cycles of restructuring plans, margin improvement initiatives and strategic repositioning efforts. That patience is now largely depleted. The Company has also continued to struggle with investor communication and transparency. This was acutely reflected in the events surrounding the cease-trade order imposed upon AGI. The Company’s Q4/2025 earnings release then appeared to sharply diverge from investor and sell-side analyst expectations – with EBITDA plunging 38% year-over-year. The Concerned Shareholders believe that a long-term turnaround of AGI is best accomplished away from the public markets, and in the hands of a strategic or financial acquirer who can invest in the future growth of the business. The Company’s current intention to conduct piecemeal sales of the business and various cost-cutting initiatives, have the potential to negatively impact the long-term value of AGI. In addition, the Company continues to operate without a permanent CEO, and recently announced that its CFO is departing AGI in the coming weeks. Attempting to recruit a new CEO, then allowing sufficient time for that individual to become fully familiar with the business, would likely result in a further prolonged period of uncertainty and delay for shareholders.”