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CubicFarms books orders totalling $6.6 million over last three days

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On November 25th, the company announced that Vertical Acres Farms LLC, an Indiana-based produce company, purchased 21 CubicFarms machines, including 17 cultivators, 3 propagators and 1 fertigator, for a complete CubicFarm installation, which is expected to be installed in the first half of 2021.

Additional Information:

Company: CubicFarms® Systems Corp.
Website: http://www.CubicFarms.com
Stock Symbol: TSXV: CUB
Date Published: Nov 26, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

CubicFarms® Systems Corp., a technology company developing and deploying technology to feed a changing world, booked orders totalling $6.6 million over last three days.

On November 25th, the company announced that Vertical Acres Farms LLC, an Indiana-based produce company, purchased 21 CubicFarms machines, including 17 cultivators, 3 propagators and 1 fertigator, for a complete CubicFarm installation, which is expected to be installed in the first half of 2021.

This patented CubicFarms technology will enable Vertical Acres to grow high-quality foods, with predictable crop yields, 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.

This order represents approximately $3.8 million in anticipated revenue

Fred Schakel, Owner, Vertical Acres, added: “We evaluated a large number of indoor growing systems and chose CubicFarms as the optimal commercial-scale fresh produce system solution. We love the idea of the perfect growing environment, the fraction of water it takes to grow our greens, and the freedom from contaminants that the Cubic system affords. We are excited that we will be able to supply our local community with fresh, perfect greens every day of the year without the influence of bad weather always weighing on our production model. With CubicFarms’ excellent technology, we are truly looking forward to this partnership.”

Dave Dinesen, CEO, CubicFarms, stated: “We are looking forward to our partnership with Vertical Acres to help them successfully grow high-quality, great tasting, local produce in Indiana, and for the neighbouring regions. Our patented technology should enable them to maximize their production per cubic foot, while greatly reducing the physical footprint of their traditional farming operations.”

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 company’s second technology is its HydroGreen system for growing nutritious livestock feed, which addresses a separate distinct market.

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.

The shares are currently trading at $1.02

For more information, please visit the company’s website www.CubicFarms.com, contact Dave Dinesen, CEO, at 604-220-1370 or by email at dave@cubicfarms.com.

For Investor Relations, contact Adam Peeler at 416-427-1235 or email adam.peeler@CubicFarms.com.

I’m Cassandra Bolinski for Investmentpitch Media