Urban Barns to Open in Alberta, Canada
04 Marzo 2013 - 9:16PM
URBAN BARNS FOODS INC. (URBF.QB) ("the Company" or "URBAN BARNS"),
is pleased to announce it has signed a Memorandum of Understanding
(MOU) with one of its minority shareholders (the "Local Partner"),
to explore the possibility of establishing growing facilities (the
"Project") in Alberta, Canada, (the "Territory") to offer food
security, food safety and traceability of local grown vegetables,
including lettuce, basil, cilantro and spinach, for the food
service and hospitality sector in addition to food retailers.
In accordance with the terms and provisions of the MOU, the
Local Partner will fund 100% of the Project and the Company will
supply a licensing agreement and technical services including
training, support and know-how to assist the growing function to
maintain quality control for an agreed-upon fee. Urban Barns will
construct the machines, and provide the nutrients and the approved
seeds during the license period of 5 years with a 5 year renewal
clause, provided that certain volume milestones are reached.
Dan Meikleham, Chairman of Urban Barns, commented, "Urban Barns
has invested extensively in research and development for over three
years in the creation of its unique, proprietary Cubic Agriculture
growing system. Our initial facility in Langley, British Columbia
opened for business last month and now produces leafy salad greens
and herbs under the Urban Barns Local Grown brand to some of
Vancouver's leading hotels and restaurants. The Company has
successfully secured sales commitments and interest for all of its
current production capacity."
Richard Groome, President and Director of Strategic Marketing
added, "The Company's short term strategy is to develop local
growing facilities in major cities across Canada. It is
contemplated that the proposed new facility be 7,500 square feet
and start with 10 machines expandable up to 40 as the need arises.
We expect the Alberta facility to be operational by the fall of
2013. Additionally, since we declared commercial production there
has been substantial interest in the Urban Barns business model and
we have identified and commenced discussions with target business
partners in several Provinces across Canada and in over 15
countries around the world."
About Urban Barns Foods Inc.
Urban Barns uses patent pending proprietary equipment to produce
affordable vegetables in a secure and controlled indoor
environment. By setting up facilities and growing locally, Urban
Barns can focus on supplying any community, irrespective of the
regional climate, effectively reducing shipping times and related
spoilage costs. Urban Barns has the unique ability to scale and
cater to the demands of all major communities. Our commitment to
our consumers is reflected through our motto, "Purely Fresh,
Naturally Tasty, and Completely Healthy". Urban Barns and
Urbanbarnsfoods.com and Cubic Farming are registered trademarks and
the copyright of Urban Barns Foods Inc. All other company and
product names mentioned are used only for identification purposes
and may be trademarks or registered trademarks of their respective
companies.
Forward-Looking Statements:
Except for historical information contained herein, the matters
set forth above may be forward-looking statements that involve
certain risks and uncertainties that could cause actual results to
differ from those in the forward-looking statements. Words such as
"anticipate", "believe", "estimate", "expect", "intend" and similar
expressions, as they relate to Urban Barns or its management,
identify forward-looking statements. Such forward-looking
statements are based on the current beliefs of management, as well
as assumptions made by and information currently available to
management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of
certain factors such as the level of business and consumer
spending, the amount of sales of Urban Barns ' products, the
competitive environment within the industry, the ability of Urban
Barns to continue to expand its operations, the level of costs
incurred in connection with Urban Barns ' expansion efforts,
economic conditions in the industry and the financial strength of
Urban Barns ' customers and suppliers. Urban Barns does not
undertake any obligation to update such forward-looking statements.
Investors are also directed to consider all other risks and
uncertainties.
CONTACT: Urban Barns Foods Inc.
Dan Meikleham
403-807-8263
dmeikleham@urbanbarns.com
Richard Groome
514-907-4989
rgroome@urbanbarns.com
Media Contact: ir@urbanbarnsfoods.com
www.urbanbarnsfoods.com
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