Vancouver, British Columbia--(Newsfile Corp. - February 3, 2025) - CubicFarm® Systems Corp. (TSXV: CUB) ("CubicFarms" or the "Company"), a leading agricultural technology company, is pleased to announce that its wholly owned subsidiary, HydroGreen Inc., has entered into a sales agreement with Consultant BRD of Québec, Canada for the purchase of its innovative Automated Vertical Pastures system. The agreement is valued at $809,000 USD (approximately $1,193,000 CAD).
This milestone first sales agreement in Canada for the patented commercial GLS 808 system highlights the growing global demand for HydroGreen's advanced feed-growing technology, which supports sustainable farming practices by enabling year-round, on-site production of nutritious livestock feed. Consultant BRD, based in Québec, Canada, will utilize the cutting-edge HydroGreen system to enhance efficiency and reduce environmental impact in its operations.
The purchase agreement includes HydroGreen's advanced feed-growing equipment, accessories, and a comprehensive support package to ensure seamless installation and off-site remote monitoring services.
"We are thrilled to partner with Consultant BRD of Québec, Canada on this project to deliver our state-of-the-art Automated Vertical Pastures system," said Michael Kyne, CFO of CubicFarm Systems Corp. "This agreement marks HydroGreen's first sale in Québec, Canada, and the fourth country where our patented commercial-grade GLS 808 production systems are now in use, following previous sales in the United States, Italy, and Ireland. This milestone reflects HydroGreen's commitment to delivering innovative, sustainable solutions that empower farmers and producers worldwide."
"In response to several questions raised by shareholders, we felt it necessary to communicate our currency exposure in light of the currency movements over the past 12 months and more recently this weekend. CubicFarms is a Canadian Company that wholly owns a US operating company HydroGreen Inc. based in Sioux Falls, South Dakota. HydroGreen conducts 100% of its business activities in US dollars. The majority of CubicFarms Systems Corp's debt and its US subsidiary HydroGreen Inc. is denominated in Canadian dollars. This reset in the exchange rate over the last 12 months is beneficial to CubicFarms and will aid us in our efforts to strengthen the company's financial position over the coming year," Kyne said.
Contact info@cubicfarms.com for media or investors@cubicfarms.com for investor inquiries. Contact HGInfo@hydrogreenglobal.com to reach HydroGreen's Producer Education Team.
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, including, without limitation, statements with respect to: the estimated harvesting capabilities of the machines, nutritional benefits of feed produced by the machines and quality of the feed in general. 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.
About HydroGreen
HydroGreen produces Automated Vertical Pastures, a type of smart farming equipment that uses a unique process to sprout grains such as wheat and barley, in a controlled growing environment to efficiently produce a high-performance feed ingredient for livestock 365 days a year. HydroGreen's equipment is simple and easy to operate and performs all growing functions automatically, including seeding, watering, lighting, harvesting, and re-seeding, which allows livestock businesses to feed consistent nutrition every day with minimal labour. When balanced correctly in the ration, HydroGreen sprouted grain modifies animal digestion which enhances productivity and reduces the amount of enteric methane emitted in ruminant livestock. The result also enables environmental benefits to the farm while helping to meet increasing demand for valuable farm-based inset and offset carbon credits. For more information, please visit www.hydrogreenglobal.com.
About CubicFarms
CubicFarms is a leading local chain agricultural technology company developing and deploying technology to feed a changing world. Its proprietary ag-tech solutions enable growers to produce high quality, predictable produce and fresh livestock feed with HydroGreen Nutrition Technology, a subsidiary of CubicFarm Systems Corp. The CubicFarms system contains patented technology for growing leafy greens and other crops on-site, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy. For more information, please visit www.cubicfarms.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239347
SOURCE: CubicFarm Systems Corp.
