LOS ANGELES, March 20, 2024 /PRNewswire/ — Nature’s Miracle Holding Inc. (the “Company” or “Nature’s Miracle”) (NASDAQ Global Market: NMHI; NASDAQ Capital Market: NMHIW), a leader in vertical farming technology and infrastructure, is pleased to announce that the Company has entered into a Memorandum of Understanding (“MOU”) with Future Tech Inc. (“FTC”), an Ohio-based financial technology, data systems and energy integrator company with access to 100MW of electricity in Ohio. Both Nature’s Miracle and FTC intend to exchange information for the understanding of consummating an equity transaction in which Nature’s Miracle will acquire all of the issued and outstanding shares of common stock of FTC from the stockholders of FTC in exchange for shares of common stock of Nature’s Miracle. Such transaction is subject to due diligence and ratification by the Board of Directors of Nature’s Miracle and certain milestones to be completed by FTC.
Management Comments
Per James Li, Chairman and Chief Executive Officer of Nature’s Miracle, “A deal with FTC allows our company to partner with AI Computing Data Center providers to co-locate vertical farming facility in places where there is favorable electricity supply. We should also be able to tap into the indoor growing markets in Ohio, Illinois and Michigan.”
About Nature’s Miracle Holding Inc.
Nature’s Miracle (www.Nature-Miracle.com) is a growing agriculture technology company providing equipment and services to growers in the Controlled Environment Agriculture industry which also includes vertical farming in North America. Nature’s Miracle’s common stock is currently traded on The Nasdaq Global Stock Market under the symbol “NMHI” and its warrants are currently traded on The Nasdaq Capital Market under the symbol “NMHIW.” Nature’s Miracle is led by James Li, who led the successful $500 million launch, operation and sale of China Hydroelectric and by Jonathan Zhang, who has built EfinityUSA, a well-recognized and respected brand in the indoor farming and controlled environment field.
Nature’s Miracle offers hardware to design, build and operate various indoor growing settings including greenhouse and indoor-growing spaces. Nature’s Miracle, through its two wholly-owned subsidiaries (Visiontech Group, Inc. and Hydroman, Inc.), provides grow lights as well as other hydroponic products to hundreds of indoor growers in North America. Nature’s Miracle has also developed a number of cost effective vertical farming solution including containerized farm.
About FTC
Future Tech, Inc., a Toledo, Ohio based company, is a leading innovator and developer of artificial intelligence (“AI”) computing data center hosting. FTC also develops proprietary systems to integrate energy (primarily electricity) into its systems. Additionally, FTC has also developed a platform, CycleX, that provides standardized financial services for both parties, offering customers more stable, efficient, and diversified solutions, while maintaining a leading position in the industry.
Important Information About Press Release
This press release includes information about the MOU. Other than specific provisions in the MOU, the MOU deal points, including the structure of the acquisition and the consideration to be offered, among other things, are not binding. This press release is intended to show the willingness of the parties to fulfill plans that complement their businesses. A transaction is final only upon the signing of a definitive agreement.
This press release contains the Chairman and Chief Executive Officer comments. Such comments do not signify a guaranteed entry in the field of bitTech mining, data warehousing, energy integration and hybrid sites with vertical farming equipment. The signing of the MOU also is not necessarily indicative of positive impact to future revenue or earnings.
This press release contains information about FTC, its business and a certain potential customer. Such information has been provided by FTC. FTC is a private company and does not publicly disclose details of its operations.
This press release does not contain all the information that should be considered concerning the stock of Nature’s Miracle, its warrants, and its related businesses. The press release is not intended to form the basis of any investment decision or any other decision in respect to the securities of Nature’s Miracle. More information can be obtained by writing directly to Nature’s Miracle Holding Inc., 858 N. Central Ave., Upland, CA 91786, attention Investor Information or the Chief Financial Officer.
Forward-looking Statements
Except for historical information contained herein, this press release contains certain “forward-looking statements” within the meaning of the federal U.S. securities laws with respect to the MOU and business of Nature’s Miracle; other future references such as the anticipated synergies resulting from the transactions contemplated by the MOU, the services and markets of Nature’s Miracle, our expectations regarding future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities, future plans and intentions, results, level of activities, performance, goals or achievements or other future events. These forward-looking statements generally are identified by words such as “anticipate,” “believe,” “expect,” “may,” “could,” “will,” “potential,” “intend,” “estimate,” “should,” “plan,” “predict,” or the negative or other variations of such statements, reflect our management’s current beliefs and assumptions and are based on the information currently available to our management. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual results or developments to differ materially from those expressed or implied by such forward-looking statements, including but not limited to: (i) the risk that the business and revenue prospects of Nature’s Miracle may not materialize which may adversely affect the price of Nature’s Miracle’s securities; (ii) the occurrence of any unforeseen event that would impact continued listing of Nature’s Miracle’s securities on the Nasdaq exchange; (iii) changes in the competitive industries in which Nature’s Miracle operates, variations in operating performance across competitors, changes in laws and regulations affecting Nature’s Miracle’s business and changes in the combined capital structure; (iv) the ability to implement business plans, forecasts and other expectations after the completion of the proposed transactions contemplated by the MOU; (v) the risk of downturns in the market and Nature’s Miracle’s industry including, but not limited to market prices of indoor grower’s produce, transportation costs, competition with outdoor growers and demand in the consumer marketplace. For additional details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, please review our prospectus/proxy statement included in our Registration Statement on Form S-4 on file with the Securities and Exchange Commission at www.sec.gov, particularly the information contained in the section entitled “Risk Factors.” Forward-looking statements speak only as of the date on which they are made, and neither Nature’s Miracle assume any 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. Nature’s Miracle does not give any assurance that the Company will achieve its expectations.
Non-solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential business combination or any other matter and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Nature’s Miracle, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
Contacts
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SOURCE Nature’s Miracle Holding Inc.
