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
info@nature-miracle.com
George.yutuc@nature-miracle.com
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SOURCE Nature's Miracle Holding Inc.