Greenfield Farms (OTC:GRAS) Gets $10M PIPE; Promo as Well

Tomahawk, WI 8/11/2011 (PennyPayDay) – Greenfield Farms Food, Inc. (OTC: GRAS) announced yesterday, in a press release, that it has entered into a Stock Purchase Agreement for up to $10 million with Ascendiant Capital Partners, LLC of Irvine, CA. GRAS is also under an e-mail promotion campaign initiated last night by a third party investor.

The financing, provided by Ascendiant will allow Greenfield to continue with the execution of its strategic plans, including the funding of new facilities and the acquisition of more cattle to fill demand for the company's products. Under the terms of the agreement Ascendiant will purchase up to $10 million of the company's common stock over the next 24 months. "We are pleased to secure the support of Ascendiant Capital Partners," said Larry Moore, Greenfield's President and CEO. "Their investment provides the resources for Greenfield to accelerate the execution of our growth plans and meet the current and future demand for the company's products."

Greenfield Farms Food, Inc. (GFF) is a consumer and wholesale driven producer of grassfed beef focused on delivering its product to major retail grocery chains throughout the country. The Company and its collective group of producers represent over 2,500 acres in pasture under management and approximately 2,000 heads of cattle. The company is a recognized producer of grassfed beef by the USDA-Food Safety and Inspection Service and is approved to carry the designation "Grassfed Beef" on all product labeling. The company operates a cold storage and distribution facility in Oakboro, NC.

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