CubicFarm Systems Announces HydroGreen Sale in Utah

Nov 15, 2021 | Press Releases

VANCOUVER, B.C., November 15, 2021 – CubicFarm® Systems Corp. (“CubicFarms” or the “Company”) (TSX:CUB), the leader in local chain agricultural technology, today announced that three HydroGreen Grow System DGS 66 modules have been purchased by Rod Magnuson for his U.S.-based beef cattle herds in Castle Dale, Utah.

“We’re thrilled to welcome Rod Magnuson, the owner and operator of Magnuson Cattle Company, with a herd of 800 cows and 1,200 calves, as our newest HydroGreen Farmer Partner,” said Dan Schmidt, President, HydroGreen. “We owe thanks to his neighbor, our Farmer Partner Mike Rigby, for advocating for the HydroGreen technology. Mike continues to host ranchers from all over the state, sharing the benefits he’s experienced with HydroGreen in a short time. Mike is installing an additional HydroGreen system, shifting from saving the farm to expanding his herd.”

“Rod is looking forward to seeing this technology in action on his ranch and how it will combat drought cycles by providing an independent and reliable feed source all year. He knows nutrition is very important for producing high-quality grass-fed organic beef and improving animal performance. At HydroGreen, we believe our automated livestock fresh feed systems will help keep ranches running and growing for future generations.”

This sale of three HydroGreen Grow Systems represents equipment sales valued at approximately CAD$450,000. The HydroGreen Grow System is modular and scalable, with the option to add on additional modules for future expansion.

“We’re seeing a positive halo effect as ranchers growing with HydroGreen technology share this solution with their neighbours,” said Dave Dinesen, CEO, CubicFarms. “Rod Magnuson is getting started with three HydroGreen systems for his herd. This automated livestock feed technology—and the results from using it—have people talking in the community. Word gets around. It’s giving hope to farmers and ranchers who desperately need consistent and nutritious fresh feed supply.”

 About CubicFarms

CubicFarms is the leading local chain agricultural technology company developing and deploying technology to feed a changing world. Its proprietary ag-tech solutions 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 onsite, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy.

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On behalf of the Board of Directors

“Dave Dinesen”

Dave Dinesen, Chief Executive Officer

This release may contain certain “forward-looking statements” or “forward-looking information” under applicable securities laws. Forward-looking terms such as “may,” “will,” “could,” “should,” “would,” “plan,” “potential,” “intend,” “anticipate,” “project,” “target,” “believe,” “plan,” “outlook,” “estimate,” or “expect” and other words, terms and phrases of similar nature are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on certain key expectations and assumptions made by the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct.

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