Ag Growth International Announces Amendment and Extension of Credit Facility

Winnipeg - March 20, 2020 - Ag Growth International Inc. ("AGI") (TSX: AFN) today announced it has amended and extended its credit facility with a syndicate of five Canadian Banks, led by the Canadian Imperial Bank of Commerce.

The extension process commenced in earnest in January 2020, with the objective of improving the Company's terms and conditions in a favourable banking environment.

The extension of the facility to March 2025, and the amendment of certain terms including an improved pricing grid and an increase to the maximum senior debt leverage ratio to 3.75 for the balance of 2020, take on an increased importance with the recent outbreak of COVID-19.

For reference, AGI's senior debt leverage ratio as at its most recently published quarter-end, September 30, 2019, was 2.78x.

AGI would like to thank CIBC as well as TD Bank, National Bank of Canada, HSBC Bank Canada and the Bank of Nova Scotia, as well as our partners at Prudential Capital, for their continuing support.

"We would like to thank our partners at each of the banks for their ongoing support", said Tim Close, President and CEO of AGI.

"While the work on this amendment was started prior to the COVID-19 crisis and was part of ongoing efforts to optimize our business to facilitate our strategies, this improved facility provides additional flexibility for our business as we move through a very unusual year.

"As we worked through this amendment and the COVID crisis escalated, our banks have continued to express their strong support."