CIPO Notice Of Allowance Creates Premarket Buying Frenzy

CIPO Notice Of Allowance Creates Premarket Buying Frenzy

By: Tomas Ronolski - News

Wednesday, April 20, 2022

A Vancouver-based micro cap just made a major announcement to start the day off on Wednesday. According to the release, the company announced that it has received a Notice of Allowance from the Canadian Intellectual Property Office for its patent application titled “Structures for Growing Plants.” This allowance in Canada also corresponds to the previously announced patent application in the U.S. and related AgriFORCE patent, trademark, and copyright applications previously filed in the U.S., Asia, Europe, the Caribbean, and Central/South America. This caused shares of AgriFORCE Growing Systems Ltd (Nasdaq:AGRI) to catch a bid during Wednesday’s premarket. 

AgriFORCE Growing Systems Ltd is dedicated to transforming modern agricultural development through its proprietary patent-pending facility design and automated growing system. Its methods are designed to produce high-quality, pesticide-free, locally cultivated crops, cost-effectively and with the ability to quickly scale, in virtually any climate.

Traders appear to be bullish on the news as shares are currently bid up at $2.65/share (+9.50% implied open for sellers) at the time of writing. This move could be an indication of things to come as there has been a slight pullback over the last month. Should this move be a confirmation of higher intermediate support, this stock could see $5.00/share again in a relatively short amount of time.

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