Urban Barns Foods Directors Meet With Target Clients And Government Officials
Urban Barns Foods (URBF.OB), announced today that it has met with potential clients and government officials in Puerto Rico with the objective of updating them on the potential of Urban Foods and looking at opportunities in establishing the same in their local market. Immediately following the Puerto Rico meetings, the directors met in Manhattan with potential financiers, and the following day held a full board of directors meeting in Vancouver, Canada, to authorize raising 5 million dollars of working capital to establish the first startup barn locations.
Mr. Dan Meikleham, Chairman and CFO, said, “During February, I traveled to Puerto Rico. Together with Cesar A. Montilla, Jr., our Director of Marketing, we followed up on his previous successful approach to local food distributors and major retailers.” Mr. Montilla added, “We are very pleased to say that, as we expected, there was positive feedback from concerned industry parties. In addition, we met with officials at the Economic Development Corporation of Puerto Rico (PRIDCO) who have expressed interest in associating with Urban Foods and are looking at all possible avenues to assist Urban Barns Foods in setting up business in Puerto Rico.”
Marking a beginning, the company requested two or possibly three, buildings of 20,000 sq. ft each, to satisfy expected start-up demand. The officials of PRIDCO supplied a list of available suitable buildings for review. After the start up phase, the company anticipates the initial three barns can produce 300,000 heads of lettuce or other vegetables every month for the local market.
Mr. Montilla commented, “We believe that we are able to capture market share due to the advantage provided by being the first provider in this innovative industry. Urban Barns Foods has the capability of meeting the requirements to become a preferred local supplier to the current distributors and retail outlets in this vibrant and well established market.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV