Farmmi Forms New Subsidiary; Bags Canada Export Order

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Farmmi Inc FAMI has formed a wholly owned subsidiaryFarmmi Canada Inc, for business development in Canada and other international markets.

  • Farmmi has also bagged a new export order for its dried Shiitake mushrooms, which will be exported to Vancouver, Canada. The financial terms were not disclosed.
  • "The formation of our new Farmmi Canada subsidiary reflects the critical mass we have achieved in the North American market and Canada's strategic importance to our long-term growth," said Chairwoman and CEO Yefang Zhang.
  • Farmmi is an agricultural products supplier, processor, and retailer of edible mushrooms like Shiitake and Mu Er and other agricultural products.
  • Price Action: FAMI shares are trading lower by 2.68% at $1.11 on the last check Tuesday.
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