Foundation Farms, a subsidiary of GME Innotainment, today announced that the Company has obtained a lease agreement to lease out 2,000 square feet of a 15,000 square foot warehouse located in Red Deer, Alberta, in order to build out its first indoor vertical farm. Once completed, the vertical farm will occupy approximately 2000 square feet of the facility. Plans for the use of the building also include the manufacture and assembly of future vertical farm units. It will also provide regional product sales and distribution headquarters for the company's products. Further details will be forthcoming shortly but management expects the vertical farm to go into production before the second half of 2021.
Ed Kroeker, CEO of Foundation Farms stated, "We have an ambitious growth plan that includes the deployment of numerous vertical farms throughout North America. We also are assembling plans for additional innovative agriculture ventures that continue the theme of sustainability and local sourcing of food products for today's consumers. The ability to establish our E-ROOTS vertical farm alongside our new manufacturing and assembly plant provides the opportunity to leapfrog our growth."
Yves R. Michel, GMEV CEO commented: "While the current socio-economic situation throughout North America and indeed most of the world has devastated many business sectors, the demand for sustainable and localized food production has never been greater than it is today and the trend is exponentially upward. I am excited to see our partner—Foundation Farms—making the decisions to capitalize on the opportunities presented."
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