CubicFarms announces private placement

CubicFarms announced that a non-brokered private placement Burnett Land & Livestock, Ltd. has agreed to purchase 1,464,622 common shares of the company at a purchase price of CAD$1.29 per common share for gross proceeds of USD$1,500,000 (approximately CAD$1,886,437). 

Burnett Land & Livestock, Ltd., LLLP is a strategic investor to CubicFarms interested in further advancing the HydroGreen technology and is a large US-based beef cattle rancher and dairy farmer with over 17,000 cattle located on 35,000 acres.

CubicFarms intends to use the proceeds of the Private Placement for advancing the research and development for HydroGreen and for general working capital purposes.