Kalera provides updates on the Luxembourg and SPAC mergers, including the filing of a US registration statement

ORLANDO, Fla., April 22, 2022 (GLOBE NEWSWIRE) -- Reference is made to the previous stock exchange announcements made by Kalera AS ("Kalera" or the "Company") (Euronext Growth Oslo: KAL, Bloomberg: KSLLF) regarding the merger with its wholly-owned Luxembourg subsidiary Kalera S.A. (the "Lux Merger"), as well as its proposed merger with Agrico Acquisition Corp ("Agrico”).

Completion of the Lux Merger is inter alia conditional on the Oslo Stock Exchange admitting the shares of Kalera S.A. to trading on Euronext Growth Oslo (the "Admission"). To effect the Admission, Kalera S.A. submitted an introductory report to the Oslo Stock Exchange, and has requested to have its shares admitted to trading on Euronext Growth Oslo as soon as practical following the effectiveness of the Lux Merger. The effectiveness of the Lux Merger is expected to occur in the second half of May 2022.

The Lux Merger is solely carried out to facilitate a Nasdaq listing. Until the effectiveness of the Lux Merger, Kalera AS will remain as the listed parent entity for the Kalera group.

In furtherance of the proposed merger between the Kalera group and Agrico, the parties have today filed a registration statement on Form S-4 pertaining to the transaction with the United States Securities and Exchange Commission.

About Kalera

Kalera is a vertical farming company headquartered in Orlando, Florida. Kalera uses technology to ensure that more people around the world have access to the freshest, most nutritious, and cleanest products available. It has spent several years optimizing plant nutrient formulas and developing an advanced automation and data acquisition system with Internet of Things, cloud, big data analytics and artificial intelligence capabilities. Kalera currently operates farms in the US (in Orlando, Florida; Atlanta, Georgia; Houston, Texas and Denver, Colorado), as well as in Kuwait. Additional farms are under development. More information is available at www.kalera.com.

Eric Birge
ir@kalera.com
313-309-9500

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.