Richard Groome, President of Urban Barns Canada and Director of Strategic Marketing, added, "Our business model is to set up a strategic number of corporately owned growing facilities, while simultaneously identifying the countries and cities of the world that can best benefit from our Cubic Farming technology and subsequently selecting the appropriate licensing partners in each Territory. Our plan is to sell a territory license which will grant the licensee a geographic exclusive territory based on reaching and maintaining certain mutually agreed upon milestones. In addition to the technical services agreement, the Company will sell a stipulated number of "Cubic Farming" machines to each licensee followed by Urban Barns approved nutrients and seeds. The duration of each license will vary and likely be for an initial 5 year period with a 5 year renewal option based on performance."
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.
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.
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