VANCOUVER, BC, Oct. 24,
2022 /CNW/ - CubicFarm® Systems Corp.
("CubicFarms" or the "Company") (TSX:CUB), announces key
leadership changes and appoints John de
Jonge as Interim Chief Executive Officer of CubicFarms and
President of HydroGreen following the departure of prior Interim
Chief Executive Officer Edoardo De
Martin at CubicFarms and of former President Dan Schmidt at HydroGreen.
Highlights:
- John de Jonge is appointed as
Interim Chief Executive Officer of CubicFarms to lead the Company,
effective immediately.
- Edoardo De Martin will remain in
an advisory role through to the end of January 2023.
- John de Jonge is appointed
President of HydroGreen following the departure of President
Dan Schmidt.
CubicFarms Management
Transition
Mr. de Jonge has been in the industry for over two decades,
having served as a senior leader in multiple agricultural
businesses, including the owner of Artex Barns Inc. through to its
successful sale in 2021. He is widely respected among members of
the North American farming and dairy communities, having been an
instrumental part in the invention and development of the Comfort
Zone FreeStall System and Big-Box dairy design.
As a former board member of CubicFarms, Mr. de Jonge was
integral to the original acquisition of HydroGreen for the Company
in 2019 and has agreed to return to lead the Company during its
transition to focus on accelerating the growth of the Company's
Feed Division.
Mr. de Jonge stated, "We have the right technology, resources,
and talent for future growth in our selected markets. I look
forward to working with the team to build on the foundation that
has been laid, leading the Company to profitable success,
especially with the exceptional HydroGreen platform."
"John de Jonge is the right
person to carry the Company forward with his extensive expertise in
manufacturing, agriculture, and dairy operations. I look forward to
watching the Company's continued success under John's leadership,"
said Edoardo De Martin. "I'd like to
thank the Board for their confidence in my leadership during our
most recent transition and for the opportunity to lend my expertise
in developing leading technologies for the organization."
Daniel Burns, Chair of the Board
of Directors, added, "John brings significant experience in the
space and is well-positioned to help orient the business towards
future success. Having served with John previously when the Company
made the decision to purchase HydroGreen, he demonstrated his
wealth of experience and relationships in the dairy industry, which
will be critical to our success."
About HydroGreen and
CubicFarms
HydroGreen's Automated Vertical Pastures™ technology produces
high-energy fresh forage at commercial scale 365 days a year using
a unique process to sprout grains, such as barley and wheat, in a
controlled environment with minimal use of land, labour, and water.
Automated Vertical Pastures™ not only provides a superior
nutritious feed to benefit the animal, improving feed efficiency,
cow health, nutrition, and performance outcomes, but also enables
significant environmental benefits to the farm while helping to
meet increasing demand for valuable farm-based inset and offset
carbon credits.
CubicFarms is a leading agricultural technology company
developing and deploying proprietary ag-tech technologies to 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 on-site,
indoors, year-round.
For more information, please visit www.cubicfarms.com.
On behalf of the Board of Directors
"Daniel Burns"
Daniel Burns, Chair of the Board
of Directors
Forward looking and other cautionary statements
Certain statements in this release constitute "forward-looking
statements" or "forward-looking information" within the meaning of
applicable securities laws.
Such statements involve known and unknown risks, uncertainties,
and other factors which may cause the actual results, performance,
or achievements to be materially different from any future results,
performance, or achievements expressed or implied by such
forward-looking statements. Such statements can be identified by
the use of words such as "intend", "expect", "believe", "plan",
"anticipate", "estimate", "scheduled", "forecast", "predict", and
other similar terminology, or state that certain actions, events,
or results "may", "can", "could", "would", "might", or "will" be
taken, occur, or be achieved.
These statements reflect the Company's current expectations
regarding future events, performance, and results and speak only as
of the date of this news release. Consequently, there can be no
assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Except as required by securities
disclosure laws and regulations applicable to the Company, the
Company undertakes no obligation to update these forward-looking
statements if the Company's expectations regarding future events,
performance, or results change.
SOURCE CubicFarm Systems Corp.