Mirabel, Quebec--(Newsfile Corp. - February 5, 2016) - Urban Barns Foods Inc. (OTCQB: URBF) ("Urban Barns" or "the Company"), a vertical farming company that produces Kosher-certified leafy vegetables using its proprietary Cubic FarmingTM technology, is pleased to announce that the Company has entered into a license agreement (the "Agreement") with Bevo Agro Inc., North America's leading supplier of propagated agricultural plants, through one of Urban Barns' wholly owned subsidiaries and the owner of the Cubic FarmingTM technology.
The Agreement grants Bevo Agro an exclusive, worldwide license to use the technology in exchange for a one-time license fee and an ongoing royalty on any revenue received by Bevo Agro from the sale, marketing, manufacturing or distribution of any growing machines developed using the technology.
Mr. Robyn Jackson, President and CEO of Urban Barns commented, "This license agreement with Bevo Agro Inc. will pave the way for the Company to manufacture and distribute growing machines throughout the world using its proprietary Cubic FarmingTM technology. The Company has patents pending in numerous countries, and has already received patent protection in South Africa, New Zealand, and Saudi Arabia."
About Urban Barns Foods Inc.
Urban Barns uses patent pending and proprietary growing equipment to produce premium quality, chemical-free and non-GMO leafy vegetables in a secure and controlled indoor environment, including lettuce and basil that is Kosher-certified.
Forward-Looking Statements
Except for historical information contained herein, the matters set forth above may include forward-looking statements that involve certain risks and uncertainties. Words such as "may", "could", "anticipate", "believe", "estimate", "expect", "intend", "plan", and similar expressions are used to identify forward-looking statements. These 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. Urban Barns does not undertake any obligation to update any forward-looking statements and cautions investors to consider all other risks and uncertainties, including those disclosed in Urban Barns' filings with the United States Securities and Exchange Commission.
For further information, contact:
Urban Barns Foods Inc.
Robyn Jackson, President and CEO
rjackson@urbanbarns.com
Tel: +1 (403) 831-6720
www.urbanbarns.net
