AGI Announces Closing of $115 Million Public Offering and Exercise of Over-Allotment Option

WINNIPEG, MB, October 25, 2018 – Ag Growth International Inc. (TSX: AFN) ("AGI" or the "Company") is pleased to announce that it has closed its previously announced public offering of 1,874,500 common shares (the "Common Shares") at a price of $61.50 per Common Share for gross proceeds of approximately $115 million, which includes the exercise in full of the over-allotment option granted to the Underwriters (as hereinafter defined) for additional gross proceeds of approximately $15 million. A syndicate book run by CIBC Capital Markets and National Bank Financial Inc. and including TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc., Raymond James Ltd., HSBC Securities (Canada) Inc., Cormark Securities Inc. and Laurentian Bank Securities Inc. (collectively, the "Underwriters") acted as underwriters for the offering. The Common Shares are listed for trading on the Toronto Stock Exchange under the symbol "AFN".

AGI intends to use the net proceeds of the Offering to partially repay outstanding indebtedness under its credit facilities, to pursue potential acquisition opportunities and for working capital and general corporate purposes.

This press release is not an offer of Common Shares for sale in the United States. The Common Shares may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from such registration. The Company has not registered and will not register the Common Shares under the U.S. Securities Act of 1933, as amended. The Company does not intend to engage in a public offering of Common Shares in the United States. This press release shall not constitute an offer to nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.