Farmmi Forms New Subsidiary; Bags Canada Export Order

Farmmi Inc FAMI has formed a wholly owned subsidiary, Farmmi 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.