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ABOVE FOOD INGREDIENTS INC (ticker: ABVE) is a plant-based food company founded in Canada, operating a fully verticalized platform that spans seed cultivation to branded consumer packaged goods (CPG) and ingredient supply. Listed on the Nasdaq (exchange: NAS), the company reported a share price of $4.5399 on October 8, 2025, representing a 30.08% gain for the day, with a trading volume of 4,141,586 shares. Above Food emphasizes traceability, sustainability, and nutrient density within its value chain.
Corporate Structure
Founded in 2020, Above Food is based in Regina, Saskatchewan, and operates a B2C brand portfolio that includes Eat Up!, Farmer Direct Organic, Only Oats, and Culcherd. The company also has a B2B ingredient division, Purely Canada Foods, serving over 300 customers across 35 countries. Above Food is privately held and employs 11 to 50 individuals. The leadership team consists of co-founders Lionel Kambeitz (CEO and Executive Chairman), Donato Sferra (Executive VP, Mergers & Acquisitions and Corporate Development), Tyler West (CEO and President, Purely Canada Foods Corp.), and Martin Williams (President and Chief Innovation Officer, Above Food Brands).
Plant-based food by Abdullah Ahmad
Recent Developments and News
On August 19, 2025, Arcadia Biosciences filed a Schedule 13G, reporting ownership of 2,738,574 shares, or approximately 5.08% of Above Food’s common stock.
On July 17 and September 8, 2025, the company submitted Form 6-K reports to the U.S. Securities and Exchange Commission, which primarily referenced press releases and did not disclose detailed financial data.
In August 2025, Above Food announced a pending reverse merger with Palm Global Technologies Limited. According to Palm Global Chairman Peter Knez, approximately 90% of Palm Global shareholders have expressed support for the transaction. The merger aims to align Above Food’s agricultural technology strengths with Palm Global’s focus on financial technology, particularly in asset tokenization and stablecoin development. As part of this transaction:
- CBIZ CPA was appointed as the independent auditor for the fiscal year ending January 31, 2025, with an audit timeline of four to six weeks intended to support the filing of Form 20-F prior to Nasdaq’s 180-day compliance deadline.
- His Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum and His Excellency Muayad Kafesha are expected to join Above Food’s board to enhance governance and market engagement.
Furthermore, Aqua 1 Foundation has made a US $20 million investment aimed at strengthening Palm Global’s digital infrastructure initiatives, including blockchain, Web3, real-world asset (RWA) tokenization, and stablecoin issuance.
Financial and Strategic Analysis
Detailed financial statements are expected upon completion of the CBIZ CPA audit and Form 20-F filing. Recent SEC submissions did not include disclosed revenue or profit figures; therefore, market observers will rely on share price movements and ownership disclosures for valuation insights. The investment from Arcadia Biosciences and Aqua 1 Foundation signifies notable stakeholder interest in Above Food’s integrated approach to agriculture and finance. The merger with Palm Global is anticipated to further the company’s entry into blockchain-based markets and enhance its global distribution capabilities through asset tokenization.
Market Position and Industry Context
Above Food operates at the intersection of plant-based food production and financial technology, with a focus on vertical integration—from seed genomics (Grow2Order) to global ingredient distribution—reflecting industry trends that prioritize transparency and sustainability. The competitive landscape includes both traditional food ingredient suppliers and emerging agri-tech firms focused on traceability. Above Food's engagement in stablecoin initiatives involving 15 African nations and partnerships within the MENA region indicates an effort to broaden its market presence beyond conventional food sectors into digital finance.
TL;DR
Above Food Ingredients has received substantial support from Palm Global shareholders for a reverse merger, appointed CBIZ CPA as auditor to comply with Nasdaq filing requirements, and announced new board appointments to enhance governance. An investment of US $20 million from Aqua 1 Foundation aims to promote asset tokenization and stablecoin initiatives. The audit is expected to be completed within six weeks, maintaining the merger and Form 20-F registration on schedule for year-end completion.
