CubicFarm Systems Corp. Announces Management Transitions
VANCOUVER, BC, Oct. 24, 2022 /CNW/ - CubicFarm® Systems Corp. ("CubicFarms" or the "Company") (TSX:CUB), announces key leadership changes and appoints John de Jonge as Interim Chief Executive Officer of CubicFarms and President of HydroGreen following the departure of prior Interim Chief Executive Officer Edoardo De Martin at CubicFarms and of former President Dan Schmidt at HydroGreen.
Highlights:
- John de Jonge is appointed as Interim Chief Executive Officer of CubicFarms to lead the Company, effective immediately.
- Edoardo De Martin will remain in an advisory role through to the end of January 2023.
- John de Jonge is appointed President of HydroGreen following the departure of President Dan Schmidt.
Mr. de Jonge has been in the industry for over two decades, having served as a senior leader in multiple agricultural businesses, including the owner of Artex Barns Inc. through to its successful sale in 2021. He is widely respected among members of the North American farming and dairy communities, having been an instrumental part in the invention and development of the Comfort Zone FreeStall System and Big-Box dairy design.
As a former board member of CubicFarms, Mr. de Jonge was integral to the original acquisition of HydroGreen for the Company in 2019 and has agreed to return to lead the Company during its transition to focus on accelerating the growth of the Company's Feed Division.
Mr. de Jonge stated, "We have the right technology, resources, and talent for future growth in our selected markets. I look forward to working with the team to build on the foundation that has been laid, leading the Company to profitable success, especially with the exceptional HydroGreen platform."
"John de Jonge is the right person to carry the Company forward with his extensive expertise in manufacturing, agriculture, and dairy operations. I look forward to watching the Company's continued success under John's leadership," said Edoardo De Martin. "I'd like to thank the Board for their confidence in my leadership during our most recent transition and for the opportunity to lend my expertise in developing leading technologies for the organization."
Daniel Burns, Chair of the Board of Directors, added, "John brings significant experience in the space and is well-positioned to help orient the business towards future success. Having served with John previously when the Company made the decision to purchase HydroGreen, he demonstrated his wealth of experience and relationships in the dairy industry, which will be critical to our success."
HydroGreen's Automated Vertical Pastures™ technology produces high-energy fresh forage at commercial scale 365 days a year using a unique process to sprout grains, such as barley and wheat, in a controlled environment with minimal use of land, labour, and water. Automated Vertical Pastures™ not only provides a superior nutritious feed to benefit the animal, improving feed efficiency, cow health, nutrition, and performance outcomes, but also enables significant environmental benefits to the farm while helping to meet increasing demand for valuable farm-based inset and offset carbon credits.
CubicFarms is a leading agricultural technology company developing and deploying proprietary ag-tech technologies to enable growers to produce high quality, predictable produce and fresh livestock feed with HydroGreen Nutrition Technology, a division of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops on-site, indoors, year-round.
For more information, please visit www.cubicfarms.com.
On behalf of the Board of Directors
"Daniel Burns"
Daniel Burns, Chair of the Board of Directors
Forward looking and other cautionary statements
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws.
Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such statements can be identified by the use of words such as "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict", and other similar terminology, or state that certain actions, events, or results "may", "can", "could", "would", "might", or "will" be taken, occur, or be achieved.
These statements reflect the Company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if the Company's expectations regarding future events, performance, or results change.
SOURCE CubicFarm Systems Corp.
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