Urban Barns Obtains Financing from Dundee Agricultural Corporation
30 Octubre 2013 - 1:51PM
URBAN BARNS FOODS INC. (URBF.QB) ("the Company" or "URBAN BARNS"),
today announced the closing of a private placement of 67,567,568
common shares of the corporation at $0.0148 per share for a total
private placement of $1,000,000 in cash. Under the terms of the
financing, the sole subscriber, Dundee Agricultural Corporation
("Dundee"), will have the right to nominate two directors. Dundee
will also have a right of to maintain their pro rate share position
on future financings.
URBF Chairman Dan Meikleham is pleased to announce two new board
members, namely, Mr. Horst Hueniken, Vice President and Portfolio
Manager at Goodman & Company, Investment Counsel Inc., and Mr.
Kevin Reed, President and CEO of Blue Goose Capital Corp. Meikleham
also announced that Mr. Jack Benne, Co – Founder and CEO has
resigned his position as Officer and Director; however, will remain
Honorary head of the company's Research and Development team. Mr.
Tito Montilla, Director, has also announced his resignation from
the Board of Directors. On behalf of all shareholders, Mr.
Meikleham expressed his sincere thanks for dedication of Mr. Benne
and Mr. Montilla during the Company's formative years.
Mr. Kevin D. Reed has served as the Chief Executive Officer and
as a director or chairman of a number of Canadian corporations and
currently serves as a Director of Fraser Institute. Mr. Reed holds
C.I.M. (Canadian Investment Manager) certification from Canadian
Securities Institute and holds a Bachelor of Arts in Social
Sciences from the University of Ottawa. In 1991, he completed the
Canadian Securities Course from Canadian Securities Institute.
Mr. Horst E. Hueniken has served as a Managing Director and
Research analyst, and a Portfolio Manager, at a number of
corporations covering the agriculture and aquaculture products and
services sector. Mr. Hueniken holds a Chartered Financial Analyst
designation, and has been top-three ranked by for stock picking by
Starmine, Greenwich Associates, and Brendan Wood International. He
holds an M.B.A. from the Ivey School of Business, and a Bachelor of
Applied Science degree in Mechanical Engineering from the
University of Waterloo.
In July, Urban Barns Foods engaged the services of Optimize
Capital Markets to arrange its financing through its Institutional
Crowdfunding Portal. Matthew McGrath, CEO of Optimize Capital
Markets said, "We are very pleased to have helped two such quality
organizations connect and consummate this transaction through our
Institutional Crowdfunding Portal."
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 subsidiary 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." The
websites www.urbanbarns.com and www.urbanbarnsfoods.com are
registered trademarks and Cubic Farming and Cubic Agriculture are
copyright of Urban Barns. 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 Optimize Capital Markets
Optimize Capital Markets™ is leading the next generation of
Investment Banking Firms through its Institutional Corporate
Finance Team coupled with its Institutional Crowdfunding Services.
They focus on both private and public entities to obtain additional
capital to maximize their business activities. We have been able to
differentiate ourselves dramatically from the typical bank by
providing our corporate clients traditional corporate finance
services along with instant access to Our Institutional
Crowdfunding Marketplace. Its website can be found at
www.optimizecapitalmarkets.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 expanding 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, CEO
dmeikleham@urbanbarns.com
Tel: 403 807 8263
Richard Groome, President
rgroome@urbanbarns.com
Tel: 514 402 4405
www.urbanbarnsfoods.com
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