Above Food Ingredients Inc. announced on July 7, 2025, that it executed a definitive business combination agreement with Palm Global Technologies Ltd. This merger, approved unanimously by both boards, is poised to transform Above Food through a statutory plan of arrangement.
The reverse takeover merger adds Palm Global's 30% stake in Palm Promax Investments (PPI) to Above Food's balance sheet, which includes Palm Global's share of PPI's $350 billion valuation of U.S. gold-based assets. Above Food will acquire Palm Global, with Palm Global shareholders receiving a total of 1.1 billion shares in Above Food.
This transaction positions Above Food as a market leader in the tokenization of real-world assets and the issuance of stablecoins, with access to over $1.5 trillion of diverse sovereign-owned assets via Promax United. Three new directors will join the combined company's board: His Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, His Excellence Muayad Kafesha, and Peter Knez.
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