MONTREAL, Sept. 11, 2014 (GLOBE NEWSWIRE) -- Urban Barns Foods Inc. (OTCQB:URBF) ("Urban Barns") is pleased to announce that it has signed a memorandum of understanding ("MOU") with Hector Larivee Inc ("HLI") www.hectorlarivee.com. The purpose of the MOU is to establish a framework whereby Urban Barns and HLI will work together to distribute Urban Barn's fresh produce to upscale restaurants and other food service industry participants in Québec and Eastern Ontario.
Mr. Richard Groome, CEO of Urban Barns, stated that, "With this MOU we effectively cover the entire Province of Quebec and Eastern Ontario with one of the top distribution companies in Canada. We are very pleased that HLI has already started to distribute Urban Barns products to some of our 4 and 5 star hotels and restaurants."
Mr. Guy Larivee, President of HLI added, "We are very happy to enter into an MOU with Urban Barns in the spirit of cooperation. We have over three thousand 4 and 5 star Food Service and Hospitality clients in the Province of Québec alone, and we are delighted to introduce Urban Barns' superior product line to our clients. With its high nutritional content and longer shelf life together with Urban Barns' ability to harvest and deliver the same day, we will be able to fulfill our client's expectation of having access to the best local fresh greens 365 days a year."
In addition to the MOU , HLI and a member of their executive team have agreed to make a financial investment in the parent company of URBF in the form of a private placement as part of that company's current $0.05 unit offering.
The Urban Barns team plans to have a full sales training and orientation on Cubic Farming and the numerous advantages of the Urban Barns products to the Hector Larivee sales and administration staff starting shortly.
Shareholder Update
Urban Barns is pleased to announce that it has completed Phase 1 of its new facility in Mirabel, Québec. The company is in full production, growing varieties of lettuce, micro greens, and fine herbs, and is supplying many local restaurants with produce picked and delivered on the very same day.
Planning is underway for Phase 2 development with the next Generation Prototype Cubic Farming machine scheduled to arrive in September. The new prototype machine will be tested on site and once testing is complete, the company will build six of these larger Generation 4 Cubic Farming machines for the planned opening of Phase 2 in late 2014 or early 2015. Preparations in the Food Safety program are underway for the Canada GAP audit before the end of 2014.
Like, follow, discuss, and keep up to date:
| Facebook.com/UrbanBarns | Instagram.com/urbanbarnsfoods |
| Twitter.com/UrbanBarns | Youtube.com/UrbanBarnsFoods |
About Urban Barns Foods Inc.
Urban Barns uses patent pending proprietary equipment to produce affordable vegetables in a secure and controlled indoor environment. By setting up subsidiary facilities and growing locally, Urban Barns can focus on supplying any community, irrespective of the regional climate, effectively reducing shipping times and related spoilage costs. Urban Barns has the unique ability to scale and cater to the demands of all major communities. The company's commitment to consumers is reflected through its motto, "Purely Fresh, Naturally Tasty, and Completely Healthy".
Forward-Looking Statements
Except for historical information contained herein, the matters set forth above may include forward-looking statements that involve certain risks and uncertainties. Words such as "may", "could", "anticipate", "believe", "estimate", "expect", "intend", "plan", and similar expressions are used to identify forward-looking statements. These forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements. Urban Barns does not undertake any obligation to update any forward-looking statements and cautions investors to consider all other risks and uncertainties, including those disclosed in Urban Barns' filings with the United States Securities and Exchange Commission.