Agrify Corp. Completes Acquisition of Señorita

Agrify Expands Its Cannabis Beverage Portfolio with Acquisition of Señorita Brand Assets

TROY, Mich. – Agrify Corp. (NASDAQ: AGFY), a leading provider of branded innovative solutions for the cannabis and hemp industries, has successfully completed the acquisition of certain assets from Double or Nothing LLC, the owner and creator of Señorita, a popular hemp-derived THC beverage brand. The transaction, valued at 530,000 shares of Agrify common stock, represents a significant strategic move as the company looks to expand its footprint in the rapidly growing cannabis beverage market.

Agrify’s Chairman and Interim CEO, Ben Kovler, expressed his enthusiasm for the deal, highlighting the value it brings to the company and its shareholders. “This is great news for Agrify shareholders. We believe Señorita is the best-tasting drink in the fastest-growing, most exciting beverage category in the country,” Kovler said. He also emphasized the increasing consumer demand for cannabis-based beverages, which offer a unique alternative to alcohol.

Señorita: A Premium Cannabis Beverage Brand

Señorita was created by renowned winemakers Charles Bieler and Joel Gott, who recognized the growing demand for adult beverage alternatives that provide a more enjoyable and healthier experience. Replacing alcohol with THC, Señorita offers a hangover-free alternative to traditional spirits, crafted with premium ingredients like organic Mexican agave, fresh lime juice, and sweet, tangy mango.

Since its inception, Señorita has gained widespread acclaim, taking home the top prize at The High Times Cannabis Cup just one year after launching. The success of the brand can be attributed to its high-quality ingredients, unique formulation, and the growing consumer interest in cannabis-infused beverages. With the backing of Agrify, Señorita is poised for further expansion and innovation in the market.

Innovative Product Launches on the Horizon

Señorita’s success has led to rapid product innovation, with new flavors and variations in the pipeline. The brand currently offers two award-winning flavors: Classic Lime Jalapeño Margarita and Mango Margarita. In January 2025, Señorita will introduce a third flavor—Paloma—combining Ruby Red grapefruit, lime, and pomelo, providing consumers with another refreshing option in the hemp beverage category.

Additionally, the brand plans to launch a fourth flavor, Ranch Water, in 2025, which will feature a low-calorie recipe, further expanding its appeal to health-conscious consumers.

Señorita’s Expanding Presence in the Market

Señorita’s HD9 THC products are currently available at top retailers across the U.S. and Canada, including Total Wine, ABC Fine Wine & Spirits, and Binny’s. The brand’s products are also available for direct-to-consumer purchases on the official Señorita website, where state laws permit such transactions.

The acquisition allows Agrify to further enhance its position in the rapidly expanding market for hemp-derived beverages. With a growing network of retail partners and an expanding product line, Señorita is poised to become a leading player in the cannabis beverage sector.

Agrify’s Strategic Focus and Long-Term Vision

Agrify’s acquisition of Señorita’s hemp-derived assets is a pivotal move as the company continues to refine its business strategy and expand its portfolio. The company remains focused on optimizing shareholder value while continuing to explore various opportunities within the cannabis industry.

Agrify is committed to driving innovation in the cannabis and hemp industries, and the acquisition of Señorita is an important step in this direction. By bringing the Señorita brand under its umbrella, Agrify aims to tap into the growing demand for cannabis-based beverages and expand its reach in both the U.S. and international markets.

The Acquisition Details: 530,000 Shares for Hemp-Derived Assets

As part of the transaction, Agrify exchanged 530,000 shares of common stock for select hemp-derived assets from Double or Nothing LLC. These assets include the Señorita brand and its portfolio of THC-infused beverages. Agrify now has approximately 2 million common shares outstanding and 7.6 million warrants following the transaction.

The acquisition represents Agrify’s continued commitment to growing its hemp and cannabis beverage division. By acquiring these assets, Agrify is better positioned to capitalize on the increasing demand for hemp-derived products while delivering value to its shareholders.

Agrify’s Role in the Cannabis Beverage Market

With the cannabis beverage industry projected to experience significant growth in the coming years, Agrify’s acquisition of Señorita positions the company as a key player in the sector. The brand’s unique position as a premium hemp-derived THC beverage provider, combined with Agrify’s innovative solutions, creates a powerful synergy that is poised to shape the future of cannabis-based drinks.

In conclusion, Agrify’s acquisition of Señorita and its commitment to expanding in the cannabis beverage space signals an exciting chapter for the company. As the demand for hemp-derived products continues to grow, Agrify is strategically positioning itself for long-term success and shareholder value creation. The upcoming product launches and expanded distribution efforts for Señorita will further solidify Agrify’s place in this fast-growing market.