09:08 AM EDT, 05/29/2024 (MT Newswires) -- Ag Growth International ( AGGZF ) responded Wednesday to a recent media report related to the receipt of an unsolicited proposal to purchase it.

In a statement it said: "While it is AGI's policy not to comment on market speculation or rumours, AGI confirms that it received an unsolicited, non-binding and conditional proposal to purchase the company, which the board of directors, in consultation with financial and legal advisors, thoroughly considered and determined was not in the best interests of AGI or its shareholders. AGI is not in discussions with any third party, nor is there any agreement, understanding or arrangement with respect to any proposal".

It added: "The company does not intend to make any further public announcements regarding any rumours or speculation unless it determines that disclosure is warranted and in accordance with the requirements of applicable law."