<SEC-DOCUMENT>0001104659-21-108790.txt : 20210824
<SEC-HEADER>0001104659-21-108790.hdr.sgml : 20210824
<ACCEPTANCE-DATETIME>20210824090449
ACCESSION NUMBER:		0001104659-21-108790
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210824
DATE AS OF CHANGE:		20210824

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPRING VALLEY ACQUISITION CORP.
		CENTRAL INDEX KEY:			0001822966
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - CROPS [0100]
		IRS NUMBER:				852715384
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39736
		FILM NUMBER:		211198712

	BUSINESS ADDRESS:	
		STREET 1:		2100 MCKINNEY AVE, SUITE 1675
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		(203) 856-1193

	MAIL ADDRESS:	
		STREET 1:		2100 MCKINNEY AVE, SUITE 1675
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tm2125745d1_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of
the<BR>
Securities Exchange Act of 1934</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No.&nbsp;&nbsp;&nbsp; )</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Filed by the Registrant </FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Filed by a Party other than the Registrant
</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Wingdings">&#168;</FONT> Preliminary Proxy Statement</P>



<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Confidential, For Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</P>



<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Definitive Proxy Statement</P>



<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT> Definitive Additional Materials</P>



<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting Material Pursuant to 240.14a-12</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>Spring
Valley Acquisition Corp.</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><BR>
</FONT></B>(Name of Registrant as Specified In Its Charter)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Person(s)&nbsp;Filing Proxy Statement,
if Other Than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT>
No fee required.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT>
Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1)&nbsp;and 0-11.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Title of each class of securities to which transaction applies:</TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(2)</TD><TD STYLE="text-align: left">Aggregate number
of securities to which transaction applies:</TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(3)</TD><TD STYLE="text-align: left">Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule&nbsp;0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(4)</TD><TD STYLE="text-align: justify">Proposed maximum aggregate value of transaction:</TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(5)</TD><TD STYLE="text-align: justify">Total fee paid:</TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT>
Fee paid previously with preliminary materials.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT>
Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2)&nbsp;and identify the filing for which the
offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date
of its filing.</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Amount previously paid:</TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Form, Schedule or Registration Statement No.:</TD>
</TR></TABLE>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Filing Party:</TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.4in; text-align: left">(4)</TD><TD STYLE="text-align: justify">Date Filed:</TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt">Spring Valley Announces
Extension of Redemption Deadline</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dallas, TX and Newark, NJ - August&nbsp;24, 2021 - As previously announced
on August&nbsp;20, 2021, Spring Valley Acquisition Corp. (&ldquo;Spring Valley&rdquo;) (Nasdaq: SV, SVSVW, SVSVU) postponed its extraordinary
general meeting of shareholders (the &ldquo;Extraordinary Meeting&rdquo;), originally scheduled to be held on August&nbsp;20, 2021 until
August&nbsp;30, 2021 at 10:00 a.m., Eastern Time, (the &ldquo;Postponement&rdquo;). In connection with the Postponement, the deadline
for Spring Valley&rsquo;s shareholders to elect to redeem their Class&nbsp;A ordinary shares has been extended until August&nbsp;26, 2021
at 5:00 p.m., Eastern Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Extraordinary Meeting is being held to vote on the proposals described
in Spring Valley&rsquo;s definitive proxy statement, filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on July&nbsp;26,
2021, relating to its proposed business combination with Dream Holdings,&nbsp;Inc. (the &ldquo;Business Combination&rdquo;). The record
date for determination of shareholders entitled to vote at the Extraordinary Meeting, including at all adjournments thereof, remains July&nbsp;19,
2021. The Spring Valley Board of Directors continues to recommend that shareholders vote in favor of the proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the date hereof, a sufficient number of Spring Valley&rsquo;s
shareholders had voted to approve the Business Combination. However, all of the conditions to effect the closing of the Business Combination
have not yet been satisfied. At the closing of the Business Combination, the redemption of Class A ordinary shares will take place immediately prior to the domestication.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">****</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>About Spring Valley
Acquisition Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Spring Valley is a
blank check company formed for&nbsp;the purpose of entering into a&nbsp;merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses or entities. While Spring Valley may pursue an initial business combination
target in any business or industry, it is targeting companies focusing on sustainability, including clean energy and storage, smart grid/efficiency,
environmental services and recycling,&nbsp;mobility, water and wastewater management, advanced materials and technology enabled services.
Spring Valley&rsquo;s sponsor is supported by Pearl Energy Investment Management, LLC, a Dallas, Texas based investment firm that focuses
on partnering with best-in-class management teams to invest in the North American energy industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE"><B>About AeroFarms,&nbsp;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">Since 2004, AeroFarms
has been leading the way for indoor vertical farming and championing transformational innovation for agriculture. On a mission to grow
the best plants possible for the betterment of humanity, AeroFarms is a Certified B Corporation with global headquarters in Newark, New
Jersey. Named one of the World&rsquo;s Most Innovative Companies by Fast Company two years in a row and one of TIME&rsquo;s Best Inventions
in Food, AeroFarms patented, award-winning indoor vertical farming technology provides the perfect conditions for healthy plants to thrive,
taking agriculture to a new level of precision, food safety, and productivity while using up to 95% less water and no pesticides ever
versus traditional field farming. AeroFarms enables local production to safely grow all year round, using vertical farming for elevated
flavor. In addition, through its proprietary growing technology platform, AeroFarms has grown over 550 varieties and has developed multi-year
strategic partnerships ranging from government to major Fortune 500 companies to help uniquely solve agriculture supply chain needs. For
additional information, visit:<U>&nbsp;https://aerofarms.com/.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: #FEFEFE">On March&nbsp;26, 2021,
AeroFarms announced a definitive business combination agreement with Spring Valley Acquisition Corp. (Nasdaq: SV). Upon the closing of
the business combination, AeroFarms will become publicly traded on Nasdaq under the new ticker symbol &ldquo;ARFM&rdquo;. Additional information
about the transaction can be viewed here:<U>&nbsp;https://aerofarms.com/investors/</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Important Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spring Valley filed the definitive proxy statement/prospectus
with the U.S. Securities and Exchange Commission (&ldquo;SEC&rdquo;) in connection with the proposed Business Combination.&nbsp;The definitive
proxy statement/prospectus has been sent to all Spring Valley shareholders and Spring Valley and AeroFarms will also file other documents
regarding the proposed business combination with the SEC. Spring Valley shareholders and other interested parties are urged to read the
definitive proxy statement/prospectus and any other documents filed with the SEC carefully and in their entirety when they become available
because they will contain important information about Spring Valley, AeroFarms and the proposed transactions. Spring Valley shareholders
and other interested parties may obtain free copies of the definitive proxy statement/prospectus and other documents filed with the SEC
by Spring Valley through the website maintained by the SEC at http://www.sec.gov or by directing a request to: Spring Valley Acquisition
Corp., 2100 McKinney Ave, Suite&nbsp;1675, Dallas, TX 75201 or (214) 308-5230.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Participants in the Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Spring Valley and its directors and executive
officers may be considered participants in the solicitation of proxies with respect to the proposed transactions. Information about the
directors and executive officers of Spring Valley is set forth in its definitive proxy statement/prospectus (Registration Number 333-255978),
initially filed with the SEC on May&nbsp;10, 2021. Additional information regarding the participants in the definitive proxy statement/prospectus
solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is included in the definitive
proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transactions when they become
available. Spring Valley shareholders and other interested persons should read the definitive proxy statement/prospectus carefully before
making any voting decisions. These documents can be obtained free of charge from the sources indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No Offer or Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This communication is not intended to and does
not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for
any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transaction or otherwise, nor shall there
be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. Subject to certain exceptions
to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly,
in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by
any means or instrumentality (including facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any
facility of a national securities exchange, of any such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This communication includes certain statements
that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as &ldquo;believe,&rdquo;
 &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;estimate,&rdquo; &ldquo;continue,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo;
 &ldquo;expect,&rdquo; &ldquo;should,&rdquo; &ldquo;would,&rdquo; &ldquo;plan,&rdquo; &ldquo;predict,&rdquo; &ldquo;potential,&rdquo; &ldquo;seem,&rdquo;
 &ldquo;seek,&rdquo; &ldquo;future,&rdquo; &ldquo;outlook,&rdquo; and similar expressions that predict or indicate future events or trends
or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding
estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations,
Spring Valley&rsquo;s ability to enter into definitive agreements or consummate a transaction with AeroFarms; Spring Valley&rsquo;s ability
to obtain the financing necessary consummate the proposed transactions; and the expected timing of completion of the proposed transactions.
These statements are based on various assumptions and on the current expectations of Spring Valley&rsquo;s and AeroFarms&rsquo; management
and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not
intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement
of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many
actual events and circumstances are beyond the control of Spring Valley and AeroFarms. These forward-looking statements are subject to
a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic
and foreign markets; the inability of the parties to enter into definitive agreements or successfully or timely consummate the proposed
transactions or to satisfy the other conditions to the closing of the proposed transactions, including the risk that any required regulatory
approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company; the
risk that the approval of the Spring Valley shareholders for the proposed transactions is not obtained; failure to realize the anticipated
benefits of the proposed transactions, including as a result of a delay in consummating the proposed transaction or difficulty in, or
costs associated with, integrating the businesses of Spring Valley and AeroFarms; the amount of redemption requests made by the Spring
Valley shareholders; the occurrence of events that may give rise to a right of one or both of Spring Valley and AeroFarms to terminate
the Merger Agreement; risks related to the rollout of AeroFarms&rsquo; business and the timing of expected business milestones; the effects
of competition on AeroFarms&rsquo; business; and those factors discussed in Spring Valley&rsquo;s registration statement on Form&nbsp;S-4
(Registration Number 333-255978), initially filed with the SEC on May&nbsp;10, 2021, under the heading &ldquo;Risk Factors,&rdquo; and
other documents of Spring Valley filed, or to be filed, with the SEC. If the risks materialize or assumptions prove incorrect, actual
results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither
Spring Valley nor AeroFarms presently know or that Spring Valley and AeroFarms currently believe are immaterial that could also cause
actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Spring
Valley&rsquo;s and AeroFarms&rsquo; expectations, plans or forecasts of future events and views as of the date of this communication.
Spring Valley and AeroFarms anticipate that subsequent events and developments will cause their assessments to change. However, while
Spring Valley and AeroFarms may elect to update these forward-looking statements at some point in the future, Spring Valley and AeroFarms
specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Spring Valley&rsquo;s
or AeroFarms&rsquo; assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be
placed upon the forward-looking statements.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AeroFarms
Contacts:</B></FONT><BR>
Investor Relations:<BR>
Jeff Sonnek<BR>
ICR<BR>
<U>Jeff.Sonnek@icrinc.com</U><FONT STYLE="color: #0563c1"><BR>
</FONT>1-646-277-1263</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Media
Relations:<BR>
Marc Oshima<BR>
AeroFarms<BR>
<U>MarcOshima@AeroFarms.com</U></FONT><FONT STYLE="color: #0563c1"><BR>
</FONT>1-917-673-4602</P>

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