Scottsdale, AZ, August 30, 2019 — AgJunction Inc. (TSX: AJX), the Autosteering Company™ ("AgJunction" or the "Company"), has filed a patent infringement lawsuit through its wholly owned U.S. subsidiaries in the Northern District of Georgia against Kubota Corporation and several of its subsidiaries (“Kubota”). The lawsuit alleges that Kubota products violate three AgJunction patents related to automated machine control and implement steering.
“AgJunction has one of the most comprehensive steeringand machine control IP portfolios in the industry,” said Bob Barjesteh, vicepresident of IP and general counsel of AgJunction. “These assets are vital tohands-free steering and machine control functions and are critical componentsof our corporate strategy. After years of attempting to negotiate a licensewith Kubota and its suppliers, we are left with no choice but to assert ourpatents in court.”
The lawsuit seeks monetary damages and an injunction toprevent Kubota from selling in the U.S. any products infringing AgJunction’spatented technology. Specifically named in the lawsuit are Kubota’s M7 Seriestractors and their newer updated models with autosteer components.
AgJunction iscommitted to bringing new technologies and products to the market, along with protectingits products and partners by continuing to enforce its rights againstunlicensed use.
AgJunctionInc., the Autosteering Company™ is a global leader of advanced guidance andautosteering solutions for precision agriculture applications. Its technologiesare critical components in over 30 of the world’s leading precision Agmanufacturers and solution providers and it holds approximately 200 patents andpatents pending. AgJunction markets its solutions under leading brand namesincluding Novariant®, Wheelman™, Whirl™ and Handsfreefarm® and is committed toadvancing its vision by bringing affordable hands-free farming to every farm,regardless of terrain or size. AgJunction is headquartered in Scottsdale,Arizona, and is listed on the Toronto Stock Exchange (TSX) under the symbol“AJX.” For more information, please go to AgJunction.com.
This press release containsforward-looking information and forward-looking statements (collectively,"forward-looking information") within the meaning of applicablesecurities laws and is based on the expectations, estimates and projections ofmanagement of AgJunction as of the date of this news release, unless otherwisestated. The use of any of the words "expect", "anticipate","may", "will", "should", "believe","continue", and similar expressions are intended to identifyforward-looking information. These statements are only predictions and actualevents or results may differ materially. Although the Company’s managementbelieves that the expectations reflected in the forward-looking statements arereasonable, it cannot guarantee future results, performance or achievementsince such expectations are inherently subject to significant business,economic, competitive and political uncertainties and contingencies. Inparticular, forward-looking statements in this press release include, but arenot limited to statements with respect to: the Company’s focus, strategy andplans. Accordingly, readers should not place undue reliance on suchforward-looking information contained in this press release.
In respect of the forward-looking information,AgJunction has provided such information in reliance on certain assumptionsthat it believes are reasonable at this time, including, but not limited to,the sufficiency of budgeted capital expenditures in carrying out plannedactivities; that AgJunction's future results of operations will be consistentwith management expectations in relation thereto; availability of key supplies,components, services, networks and developments; the impact of increasing competition;conditions in general economic, agricultural and financial markets; demand forthe Company's products; and the continuity of existing business relationships.
Since forward-looking information addresses futureevents and conditions, such information by its very nature involves inherentrisks and uncertainties. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks. These include, butare not limited to the risks associated with the industries in which AgJunctionoperates; competition; inability to introduce new technology and new productsin a timely manner; legal claims for the infringement of intellectual propertyand other claims; negative conditions in general economic, agricultural andfinancial markets; and reduced demand for the Company's products. Readers arecautioned that the foregoing list of factors is not exhaustive.
Additional information on other factors that couldaffect the Company's operations or financial results, are included in reportsof AgJunction on file with applicable securities regulatory authorities,including but not limited to, AgJunction's Annual Information Form which may beaccessed on its SEDAR profile at www.sedar.com. The forward-looking informationcontained in this press release is made as of the date hereof and AgJunctionundertakes no obligation to update publicly or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, unless so required by applicable securities laws.
Jeff Morris, Corporate Communications, AgJunction
Gateway Investor Relations
CodySlach, Managing Director