Sprout AI(CSE: SPRT), a technologically focused, sustainable vertical farming company that has developed scalable, AI-controlled aeroponic cultivation habitats, has released additional information regarding recent high-volume trading. Earlier this week, Sprout noted downward pressure of its stock price. Since then, the company has learned that an unrelated company using the same trading symbol — SPRT — on the Nasdaq exchange undertook a substantial short position that resulted in the stock halting trading. In today’s announcement, Sprout confirmed that it has no relation or business dealings with Support.com, the owner of NASDAQ: SPRT. Consequently, Sprout is in the process of requesting permission from the Canadian Securities Exchange (“CSE”) to change its ticker symbol on the exchange to avoid any continued incorrect association with NASDAQ: SPRT. “We confirm that the Investment Industry Regulatory Organization of Canada (‘IIROC’) is reviewing the information provided concerning possible explanations for this unexpected sell-off including but not limited to the possible mistaken identity NASDAQ: SPRT,” said Sprout CEO Chris Bolton in the press release. “We have confirmed with IIROC that our major shareholder, TheraCann International, did not loan any of the company shares to a third party. The company also acknowledged that the previously filed Form 45 is no longer required. On behalf of our shareholders, we wish to thank IIROC for allowing us to stay focused on our business while they continue to monitor this situation closely.”
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About Sprout AI Inc.
Sprout AI is a vertical farming technology company in the business of planning, designing, manufacturing and/or assembling sustainable and scalable AI-controlled vertical cultivation equipment for indoor vertical farming. The adaptive technology produces an environment with improved growing parameters and early detection of adverse conditions, resulting in consistent and repeatable crops with shorter cultivation cycles, independent of geographic climates. The self-contained multilevel rolling rack technology increases the cubic cultivation area while mitigating the risk of outside and cross-contaminants. For more information about the company, visit www.SproutAI.solutions.
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