Scottsdale, AZ, July 30,2019 — AgJunction Inc. (TSX:AJX), the Autosteering Company™ ("AgJunction"), announces the recentissuance from the U.S. Patent and Trademark Office of U.S. Patent No.10,266,201 titled, “K-Turn Path Controller.”
Since eTurns debuted in 2011,AgJunction has been at the forefront in developing and delivering auto-steeringheadland turns. In addition to improved performance and a tighter turning ratiothat supports more effective configurations, K-Turns offers farmers the benefitof further reducing the area required to perform a turn with their equipment. Theclassic “keyhole turn” requires a large headland to make a turn for the nextrow, while K-turns can reduce the size of that headland by half and betterutilize the grower’s fields. This increases the amount of the field availablefor planting and provides a safer turning option for farmers with land thatborders canals, creeks and other challenging terrain.
“AgJunction really considershow autosteering effects the work of the farmer and the mechanics ofagriculture itself,” said M. Brett McMickell, COO of AgJunction. “The K-Turns capabilityis about improving efficiency without overlapping to maximize utilization of theentire field. Using minimal headland space means a greater yield is possible, alongwith the ability to make more efficient turns and adjustments, while providinggreater autonomy to be more productive.”
Bob Barjesteh, vice president, M&A, IP and general counsel for AgJunction commented, “Owning this important technology further solidifies our patent coverage in machine steering, specifically in the area of auto headland turns. We also were just granted the European patent for this technology, where the K-Turns capability is even more critical to farmers because of the slightly smaller field sizes.”
Since 2016, AgJunction has added 72 new patent matters with 13 new patents issued. The company currently holds approximately 200 precision agriculture patents and pending patents worldwide.
AgJunction Inc., the Autosteering Company™ is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world’s leading precision Ag manufacturers and solution providers and it holds approximately 200 patents and patents pending. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman™, Whirl™ and Handsfreefarm® and is committed to advancing 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 contains forward-lookinginformation and forward-looking statements (collectively, "forward-lookinginformation") within the meaning of applicable securities laws and isbased on the expectations, estimates and projections of management ofAgJunction as of the date of this news release, unless otherwise stated. Theuse of any of the words "expect", "anticipate","continue", "estimate", "objective","ongoing", "may", "will", "project","should", "believe", "plans", "intends"and similar expressions are intended to identify forward-looking information.These statements are only predictions and actual events or results may differmaterially. Although the Company’s management believes that the expectationsreflected in the forward-looking statements are reasonable, it cannot guaranteefuture results, performance or achievement since such expectations areinherently subject to significant business, economic, competitive and politicaluncertainties and contingencies. In particular, forward-looking statements inthis press release include, but are not limited to statements with respect to:the Company’s vision with respect to autosteering for farmers and theexpectation that regular updates will be pushed out to the app ensuring farmerscan always operate their Wheelman products with the most up-to-date technology.Accordingly, readers should not place undue reliance on such forward-lookinginformation 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 increasingcompetition; conditions in general economic, agricultural and financialmarkets; demand for the Company's products; and the continuity of existingbusiness 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
Amy McEvoy, Associate Public Relations Director,Rhea + Kaiser
Gateway Investor Relations
Cody Slach, Managing Director