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TEL AVIV, Aug. 30, 2022 (GLOBE NEWSWIRE) — Satibus Tech Corporation (OTC: SATTI) (“Sativas” or the “Company”) is pleased to announce the following business announcement today: Saffron Tech Ltd (“Saffron Tech”), a subsidiary of the Company to 5 million New Israeli Shekels (“NIS”) (approximately $1.5 million) announced plans to raise NIS 32.5 million (approximately $10 million) in pre-funding through an Israeli crowdfunding platform. – If the Peoplebiz maximum amount is raised, the company will own approximately 61% of Saffron Tech. This crowdfunding follows a similar financing completed by Saffron Tech in early 2021. In the past two months, Saffron Tech has raised NIS 800,000 (approximately $242,000) through SAF’s offering. SAFEs can be exchanged for the current crowdfunding round at a 20% discount.
As we conduct our activities, management discloses important information and keeps the company up-to-date in its files.
About Saivus Tech Corp:
Sativas Tech Corporation (OTC: SATT) It is an agritech company that uses advanced agricultural technology to grow low yield food products in the global marketplace. The company focuses on the research, development and marketing of agricultural products that are in high demand but rarely on the market. Saffron Tech, a subsidiary of Sativas Tech Corp., is revolutionizing the agritech world by creating protocols for growing saffron in indoor permanent farms. He is also increasing the production of spices by multiplying the harvest every year. Sativas Tech Corporation’s technology provides a responsible and sustainable way to grow crops on environmentally challenged and depleted land reserves, reducing water resources and unstable weather conditions.
Forward-looking statements:
All statements, other than statements of historical fact, included in this press release are “forward-looking statements”, which are often, but not always, identified by words such as “expects”, “expects”, “intends”. “estimates,” “plans,” “potential,” “possible,” “likely,” “believes,” “will,” “may,” “will,” “should,” “could,” or negative or similar expressions of these words. These statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ from those expressed or implied by these statements. These factors include, but are not limited to, the uncertainty of the Company’s global manufacturing and supply chain, the Company’s adoption of the smart luggage market, the successful implementation of the Company’s growth strategy, dependence on key Company personnel, changes in economic conditions, competition and other risks. These were disclosed in the company’s quarterly report filed with the Securities and Exchange Commission on August 12.Th, 2022 (“SEC”), and other filings and filings with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligation to update these statements except as required by law. The Company intends to make all forward-looking statements subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact:
Talk Wilk Glazer
chief executive officer
info@saffron.ag
800-608-6432
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