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Canada: CubicFarms' cease trade order lifted and key sales agreements in Q4 completed

The company recently announced the lifting of the cease trade order issued by regulatory authorities and the reinstatement of trading on the TSX Venture Exchange effective today January 31, 2025. The Cease Trade and relisting was lifted following the successful completion of the Company's 2023 audit and the filing of unaudited Q1, Q2, and Q3 financial statements. The completion of these filings ensures compliance with all regulatory requirements and demonstrates CubicFarms' commitment to maintaining transparency and accountability in its operations.

"We appreciate the patience of our investors and stakeholders as we worked diligently to meet our regulatory filing obligations," said Michael Kyne, CFO of CubicFarms Systems Corp. "With these filings now complete and the return to trading for our shareholders we want to reiterate our commitment to timely and accurate filings, and we do not anticipate any further delays in meeting filing deadlines in the future."

In addition, CubicFarms' wholly owned subsidiary HydroGreen Inc. is pleased to report to our investors the successful completion of three previously announced sales agreements during the fourth fiscal quarter. The completed sales to Agrotopia Ireland, Golden Rule Dairy of Arizona, and Advanced Dairy Systems of Arizona total $629,242.82 USD (approximately $906,109.66 CAD).

The Company recognizes revenue from the sale of equipment when it transfers the risks and control to the customer, which generally occurs upon delivery or transfer of title. Revenue generated from installation services is recognized when the related service is provided, and proper completion sign-off is obtained from the customer.

CubicFarms remains committed to providing regular updates and transparency as we continue to execute on our business objectives. We look forward to updating our investors on corporate activities and strategic developments in the coming days and weeks.

For more information:
CubicFarms
[email protected]
www.cubicfarms.com

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