VANCOUVER, BC, Jan. 19, 2021 /CNW/ - CubicFarm® Systems
Corp. (TSXV: CUB) ("CubicFarms" or the "Company"), a local
chain, agricultural technology company, today announced that it has
changed its financial year-end from June 30
to December 31. The change in financial year-end has been
made to coincide with the financial year-ends for the parent
corporation and all its subsidiaries.
For details regarding the length and ending dates of the
financial periods, including the comparative periods of the interim
and annual financial statements to be filed for the Company's
transition year and its new financial year, reference is made to
the Notice of Change in Year-End filed by the Company on SEDAR
pursuant to Section 4.8 of National Instrument 51-102, a copy of
which is available electronically at www.sedar.com
In addition, the Company has changed its auditor from MNP LLP
(the "Former Auditor") to KPMG LLP (the "Successor Auditor"). At
the request of the Company, the Former Auditor resigned as the
auditor of the Company effective January 7,
2021 and the Company appointed the Successor Auditor as the
Company's auditor effective January 7,
2021, until the next Annual General Meeting of the
Company.
"We would like to thank MNP for their expertise and guidance and
we are pleased to announce that KPMG will be our auditor going
forward," said Dave Dinesen, CubicFarms' CEO.
There were no reservations in the Former Auditor's audit reports
for the period commencing at the beginning of CubicFarms' two most
recent financial years and ending at the date of the resignation of
the Former Auditor. There are no "reportable events" (as the term
is defined in National Instrument 51-102 – Continuous Disclosure
Obligations) between the Company and the Former Auditor.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
About CubicFarms
CubicFarms is a local chain, agricultural technology company
developing and deploying technology to feed a changing world. Its
proprietary technologies enable growers around the world to produce
high quality, predictable crop yields. CubicFarms has two distinct
technologies that address two distinct markets. The first
technology is its CubicFarms™ system, which contains patented
technology for growing leafy greens and other crops indoors, all
year round. Using its unique, undulating-path growing system, the
Company addresses the main challenges within the indoor farming
industry by significantly reducing the need for physical labour and
energy, and maximizing yield per cubic foot. CubicFarms leverages
its patented technology by operating its own R&D facility in
Pitt Meadows, British Columbia,
selling the system to growers, licensing its technology and
providing vertical farming expertise to its customers.
The second technology is CubicFarms' HydroGreen system for
growing nutritious livestock feed. This system utilizes a unique
process to sprout grains, such as barley and wheat, in a controlled
environment with minimal use of land, labour and water. The
HydroGreen system is fully automated and performs all growing
functions including seeding, watering, lighting, harvesting, and
re-seeding – all with the push of a button – to deliver nutritious
livestock feed without the typical investment in fertilizer,
chemicals, fuel, field equipment and transportation. The HydroGreen
system not only provides superior nutritious feed to benefit the
animal, but also enables significant environmental benefits to the
farm.
For more information, please visit www.cubicfarms.com
SOURCE CubicFarm Systems Corp.