Acquiring growing modules worth CAD $1,5mln and announcement of new HydroGreen network

CubicFarm announced the establishment of an Alberta Grow Centre by acquiring growing modules and assets worth CAD $1.5 million from Swiss Leaf Farms located 50 kilometers north of Edmonton in Busby, Alberta. The Company paid CAD $750,000 in cash to increase its holdings from 50 percent to 100 percent, with the remaining balance offset by CubicFarms’ existing investment in Swiss Leaf Farms. As part of this agreement, CubicFarms is hiring owners and operators David and Alyssa Pfaeffli of Swiss Leaf Farm and four current employees to join the company’s growing team and continue working on site. Swiss Leaf Farms’ operations will be known as the CubicFarms Alberta Grow Centre.

With 14 CubicFarm System modules currently in operation, the Alberta Grow Centre will accelerate the company’s research and development and continue growing and selling produce locally following the GLOBAL G.A.P. set of standards for Good Agricultural Practices. The company will use this expansion to further test its standard operating procedures and accelerate technological advancements for its indoor growing technologies.

Certified dealer network
CubicFarm announced two initial dealers of its HydroGreen Certified Dealer Network to meet increasing distribution demand for the Company’s automated HydroGreen technology for on-farm growing of fresh green livestock superfeed.

“We’re thrilled to welcome seasoned on-farm consultants Total Dairy Solutions and Settje, our first two dealers, to help get this technology into the hands of the farmers who need it now,” said Dan Schmidt, President, HydroGreen. "Just like buying a tractor from a certified local dealer, our HydroGreen Certified dealers will support local sales, installations, and customer experience.”

Total Dairy Solutions US, signed a nonbinding letter of intent (“LOI”) to become an official member of the HydroGreen Certified Dealer
Network selling the HydroGreen Grow System indoor growing technologies to their customers. Settje Agri Services & Engineering Inc. (“Settje”), the U.S. Midwest’s premier provider for livestock engineering and design systems with a focus on the beef cattle industry, signed an LOI with HydroGreen to provide consulting and engineering services in building out this new Certified Dealer Network.