In This Article:
Vancouver, British Columbia--(Newsfile Corp. - May 14, 2024) - CubicFarm® Systems Corp. (TSXV: CUB) ("CubicFarms" or the "Company"), a leading agricultural technology company, announces a sale through its ruminant livestock feed subsidiary company, HydroGreen Inc. ("HydroGreen"). The transaction involves the sale of 2 of its innovative DGS-66 Production Systems to Upgrowth Ag. Under the payment terms, Upgrowth Ag has paid 50% of the total sale, with the final 50% to be paid upon confirmation of shipment.
Upgrowth Ag is a Utah-based company committed to enhancing sustainable livestock feed options for the international market. This strategic move aims to transform agricultural practices and expand scalability in the United States and Asia. Founded by a unique East-West partnership, Upgrowth Ag blends traditional farming insights with modern agricultural technology effort to integrate vertical fodder growth systems and bring them to Korea, Japan, Mongolia, and eventually all of Asia.
John de Jonge, President of HydroGreen, stated, "The DGS-66 systems are ideally tailored to the needs of innovative farms like those operated by Upgrowth Ag, which are both traditional and forward-looking. These systems enable farmers to significantly enhance both the capacity and sustainability of their operations. Our technology offers the ability to produce high-energy, nutritious fresh forage 365 days a year, underpinning a revolution in how farmers approach animal agriculture. This is not only about elevating efficiency; it's about integrating resilience into the foundation of agricultural practices."
The DGS-66 Production System by HydroGreen is designed to excel in controlled environments, ensuring the daily production of fresh forage regardless of external weather conditions. This cutting-edge technology guarantees consistent, year-round feed quality, critical for the health and productivity of livestock.
With this partnership, HydroGreen reaffirms its commitment to advancing sustainable agricultural solutions globally. By equipping Upgrowth Ag with HydroGreen's DGS-66 Production Systems, we are enhancing their capability to boost productivity and provide superior, consistent livestock feed on a commercial scale, serving both local and international markets.
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.