Mr. Michael England reports

GEONOVUS SIGNS LETTER OF INTENT FOR 20 ACRES OF AGRICULTURAL LAND IN LANGLEY, BC

GeoNovus Corp. has signed a letter of intent with R.E.H. Fish Farm Ltd. to acquire a 100-per-cent interest in 20 acres of agricultural land in Langley, B.C., to become the site of GeoNovus's proposed vertical growing greenhouse utilizing Affinor Growers Inc.'s vertical growing technology in an exclusive licensing agreement announced Oct. 23, 2014. This LOI includes 20 acres of land zoned for agriculture use and ready for construction of the new vertical growing facility, as well as two existing freshwater, land-based aquaculture licences granted by Fisheries and Oceans Canada that could provide a second source of revenue streams from this agreement.

GeoNovus president and chief executive officer Mike England states: "In addition to recently securing an exclusive licensing agreement with one of the world's most advanced vertical farming systems, we now have agriculturally zoned and build-ready real estate in excess of 20 acres to begin construction of our indoor growing facilities. This LOI brings GeoNovus one step closer to tapping into the multibillion-dollar agricultural marketplace with multiple potential revenue streams available through this strategic location."

About vertical growing technology

This automated, software-driven technology is unique for its ability to grow grade A1, non-GMO (non-genetically modified organisms) crops year-round without chemicals or pesticides, getting maximum yield out of available square footage. This fully sustainable and complete indoor agricultural solution was developed over 12 years with research and development based on predecessor systems, prototypes and significant third party validation. GeoNovus will be utilizing and reselling technology aimed at year-round farming systems with controlled precision farming techniques. Crop varieties chosen for best suitability include leafy greens, strawberries and marijuana. A proprietary mechanical pollination system allows food to be grown indoors year-round, regardless of seasonality, with near-zero water waste. This proven technology is specifically designed to help address issues of global food security and food shortage.

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