VANCOUVER, BC / ACCESSWIRE / March 17, 2020 / CubicFarm® Systems Corp. (TSXV:CUB) ("CubicFarms" or the "Company") announces that Chris Ericson has resigned as a member of the Company's Board of Directors, effective immediately. Mr. Ericson was a board nominee of strategic shareholder Nu Skin Enterprises Inc. ("Nu Skin"). Nu Skin continues to be a supportive shareholder of CubicFarms, however, it has chosen not to appoint another nominee at this time, given its operations in similar markets.
"On behalf of our Board, I thank Chris for his valuable contributions and wish him well in future endeavours," said Dave Dinesen, Chief Executive Officer of CubicFarms.
"It has been a pleasure to serve on the CubicFarms Board. I have confidence that the Company's dynamic and innovative group of professionals will continue positively impacting the controlled-environment agriculture space," said Mr. Ericson.
CubicFarms has initiated a process to replace Mr. Ericson on the Board.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About CubicFarm® Systems Corp.
CubicFarm Systems Corp. ("CubicFarms") is a technology company that is developing and deploying technology to feed a changing world. Its proprietary technologies enable farmers around the world to grow high-quality, predictable crop yields. CubicFarms has two distinct technologies that address two distinct markets. The first technology is its patented CubicFarm™ System, which contains patented technology for growing leafy greens and other crops. Using its unique, undulating-path growing system, the Company addresses the main challenges within the indoor farming industry by significantly reducing the need for physical labour and energy, and maximizing yield per cubic foot. CubicFarms leverages its patented technology by operating its own R&D facility in Pitt Meadows, British Columbia, selling the System to farmers, licensing its technology and providing industry-leading vertical farming expertise to its customers.
The second technology is CubicFarms' HydroGreen System for growing nutritious livestock feed. This system utilizes a unique process to sprout grains, such as barley and wheat, in a controlled environment with minimal use of land, labour and water. The HydroGreen System is fully automated and performs all growing functions including seeding, watering, lighting, harvesting, and re-seeding - all with the push of a button - to deliver nutritious livestock feed without the typical investment in fertilizer, chemicals, fuel, field equipment and transportation. The HydroGreen System not only provides superior nutritious feed to benefit the animal, but also enables significant environmental benefits to the farm.
SOURCE: CubicFarm® Systems Corp.