Agrinam Acquisition Corporation Announces Amount of Redemptions

Toronto, Ontario--(Newsfile Corp. - September 29, 2023) - Agrinam Acquisition Corporation (TSX: AGRI.U) (the "Corporation") announced today that 11,261,363 Class A Restricted Voting Shares were deposited for redemption and not withdrawn and will accordingly be redeemed pursuant to the option to redeem provided to holders of Class A Restricted Voting Shares (the "Redemption") in connection with the Corporation's special meeting of the holders of Class A Restricted Voting Shares of the Corporation (the "Class A Restricted Voting Shares") and Class B Shares of the Corporation (the "Class B Shares") held on September 14, 2023 (the "Meeting"), whereat holders of Class A Restricted Voting Shares and Class B Shares approved an amendment to the amended and restated articles of the Corporation to amend the definition of three-month extension option contained therein, as more particularly described in the press release of the Corporation dated September 15, 2023.

The Corporation expects that the amount each Class A Restricted Voting Share that was deposited for redemption will be redeemed for is approximately US$10.4715 before taking applicable withholding taxes into account.

About Agrinam Acquisition Corporation

Agrinam Acquisition Corporation is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination within a specified period of time.

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Corporation's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the risk that a qualifying acquisition may not be completed within the Corporation's permitted timeline or the potential failure to obtain an extension of the qualifying acquisition deadline if sought by the Corporation, the failure to satisfy the conditions to the consummation of any proposed qualifying acquisition, and the factors discussed under "Risk Factors" in the Corporation's prospectus dated June 10, 2022. The Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

For further information contact:

Agustin Tristan Aldave
Chief Executive Officer
Agrinam Acquisition Corporation
agustin.tristan@agrinamspac.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182430