VANCOUVER, BC,
March 7, 2022 /CNW/ -
CubicFarm® Systems Corp. ("CubicFarms" or the
"Company") (TSX: CUB), a leading local chain agricultural
technology company, today announced the sale of 27 CubicFarm System
modules in Winnipeg, Manitoba, at
a sale price of CAD$5.13 million.
Experienced greenhouse farmers Sheldon
and Carrie Enns operate the Green Valley Garden Centre,
supplying high-quality vegetables and ornamental plants in
Southeastern Manitoba for the past
12 years. The growing season in Manitoba is impacted by climate change, with
farmers experiencing significant drought, stormy weather, and cold
winters. The Enns will use the CubicFarm Systems automated indoor
growing technology to grow commercial scale amounts of leafy
greens, herbs, and microgreens in the Winnipeg area for the surrounding
communities.
"We're farmers first and care about the environment and feeding
our community. With the addition of the CubicFarms technology,
we're growing our business in a sustainable and responsible way.
This allows us to maximize production of fresh, more
reliable, locally grown food," said Sheldon
Enns.
In addition to the purchase of 27 modules, the Enns will work
with CubicFarms Garden, the Company's produce brokerage team and
use the award-winning ALLWays Local produce brand. "CubicFarms is
the best local chain ag-tech solution we've found," said Enns. "We
aren't just purchasing equipment; we're starting a long-term
relationship and joining a network of seasoned Cubic farmers. The
brokerage team, ongoing research and development, promotional
support, and a program to purchase inputs and packaging were
significant in our decision. It's important for us to be a part of
CubicFarms mission and commitment to improve food security."
"Sheldon and Carrie Enns are
leading our expansion into central Canada with a large CubicFarms installation,"
said Dave Dinesen, Chief Executive Officer, CubicFarms. "Manitoban
consumers, stores, and restaurants will enjoy even more delicious,
high-quality produce grown locally year-round with significantly
less waste and harmful climate-changing emissions from long supply
chains. We're thrilled to support the Enns' goals of providing
local jobs growing for their local community, inspiring others to
choose more sustainable farming practices, and growing their family
farming operation for generations to come."
About CubicFarms
CubicFarms is a leading local chain agricultural technology
company developing and deploying technology to feed a changing
world. Its proprietary ag-tech solutions enable growers to produce
high quality, predictable produce and fresh livestock feed with
HydroGreen Nutrition Technology, a division of CubicFarm Systems
Corp. The CubicFarms™ system contains patented technology for
growing leafy greens and other crops onsite, indoors, all year
round. CubicFarms provides an efficient, localized food supply
solution that benefits our people, planet, and economy.
For more information, please visit www.cubicfarms.com.
On behalf of the Board of Directors
"Dave Dinesen"
Dave Dinesen, Chief Executive Officer
This release may contain certain "forward-looking statements" or
"forward-looking information" under applicable securities laws.
Forward-looking terms such as "may," "will," "could," "should,"
"would," "plan," "potential," "intend," "anticipate," "project,"
"target," "believe," "plan," "outlook," "estimate," or "expect" and
other words, terms and phrases of similar nature are often intended
to identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements are based on certain key expectations
and assumptions made by the Company including but not limited to
statements with respect to CubicFarms' expected revenue recognition
and the completion of the sale and installation of the modules by
the customer. Although management of the Company believes that the
expectations and assumptions on which such forward-looking
statements are based are reasonable, undue reliance should not be
placed on the forward-looking statements because the Company can
give no assurance that they will prove to be correct.
SOURCE CubicFarm Systems Corp.