Urban Barns and Newfoundland Fresh Produce to Supply Locally Grown Food Security to Newfoundland and Labrador
03 Junio 2013 - 8:05AM
URBAN BARNS FOODS INC. (URBF.QB) ("URBAN BARNS"), is pleased to
announce it has signed a Memorandum of Understanding (MOU) with
Newfoundland Fresh Produce Inc. ("NFP") to establish an Urban Barns
licensed growing facility in Newfoundland and Labrador, Canada (the
"Growing Facility").
The Growing Facility will enable NFP to grow vegetables locally
that offers food security, food safety and traceability of multiple
varieties of vegetables including; lettuce, basil, cilantro and
spinach. Urban Barns has also granted NFP the right of first
refusal on future exclusive licenses to set up additional Growing
Facilities in P.E.I, New Brunswick and Nova Scotia. Under the terms
of the agreement, NFP and Urban Barns will enter into a definitive
licensing agreement where specific milestones, royalty rates, and
technical services will be agreed to no later than August 30th,
2013.
Richard Groome, President of Urban Barns and Director of
Strategic Marketing stated, "We are delighted to welcome NFP as our
growing partner in Newfoundland with plans to cover the three
Canadian Maritime Provinces. Groome added, "The Newfoundland
Growing Facility is a step in our national coast-to-coast expansion
plan on establishing Growing Facilities in key target markets
including Quebec and Ontario."
Stephen W. Bruce, President and CEO of Newfoundland Fresh
Produce Inc. said, "We are delighted to become an Urban Barns
licensee on the East coast of Canada and bring our fellow Canadians
fresh produce grown locally 12 months per year. As a
Newfoundlander, it is with great pride and joy that we bring this
revolutionary Cubic Farming technology to Newfoundland and Labrador
to provide local grown produce of superior freshness never dreamed
of before due to remote growing fields. Over 90% of the produce
consumed in Newfoundland is brought in via trans-continental road
transportation then by ship. With the Urban Barn's growing
technology and methods, NFP will be able to supply fresh produce
picked the same day, year-round and at a competitive price. This is
indeed a major breakthrough in the Newfoundland food supply chain
eliminating multiple thousands of "miles-to-market." Bruce added,
"We plan to have the initial Growing Facility operational by the
fall of 2013 starting with four Cubic Farming machines adding
additional machines and new locations throughout the province to
supply our customers comprising the food service and hospitality
sector in addition to food retail chains."
Based on a study published in 2007 by the Department of Natural
Resources of Newfoundland and Labrador, it was estimated that in
2005, less than 3% of the lettuce consumed in the province was
locally produced. The same study established that the combined
potential for locally-produced vegetables in the province was at
over $42 million per year.
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.
About Newfoundland Fresh Produce Inc.
Newfoundland Fresh Produce aims to grow and distribute locally
grown, fresh produce year-round in the Atlantic Provinces, starting
with Newfoundland and Labrador. Through its exclusive licensing
agreement with Urban Barns, Newfoundland Fresh Produce will be able
to grow affordable and tasty produces in a secure and controlled
indoor environment, providing food security and quality.
Restaurants and grocers will be able to offer their customers local
fresh produce picked the same day, and this, year-round.
Newfoundland Fresh – Locally Grown - Freshness Guaranteed. For more
information, please visit NewfoundlandFresh.com
Forward-Looking Statements:
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.
Dan Meikleham
(403)807-8263
dmeikleham@urbanbarns.com
Richard Groome
(514)907-4989
rgroome@urbanbarns.com
Newfoundland Fresh Produce Inc.
Stephen W. Bruce
(514)970-7355
stephen@newfoundlandfresh.com
Media Contact: ir@urbanbarnsfoods.com
www.urbanbarnsfoods.com
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