Mr. Daniel Burns reports

CUBICFARMS IS PLEASED TO ANNOUNCE SETTLEMENT OF LONG STANDING LITIGATION WITH BURNETT DAIRY IN WYOMING

Cubicfarm Systems Corp.'s ruminant livestock feed subsidiary company, HydroGreen Inc., has reached a negotiated settlement with Burnett Land & Livestock Ltd. LLLP concerning a lawsuit that Burnett Land & Livestock had filed against HydroGreen and Cubicfarm in the state of Wyoming in 2023. The resolution brings an end to a dispute that had raised questions as to the impact on HydroGreen and its parent company Cubicfarm.

The resolution allows HydroGreen to recover 12 commercial GLS 808 production units along with grain sizers, conveyor systems, grain bins and a host of additional ancillary equipment directly involved in the installation of a HydroGreen feed centre. HydroGreen agreed to settle with Burnett Land & Livestock for the investment made in the physical facility construction.

"This successful resolution of the dispute between HydroGreen Inc. and Burnett Land & Livestock Ltd. LLLP creates immediate value for HydroGreen by increasing the company's inventory of commercial GLS 808 units to 18 along with all the ancillary equipment. This brings the commercial value of HydroGreens inventory to over $9.4-million based on MSRP 2024 pricing," said HydroGreen chief financial officer Michael Kyne.

This settlement lays the groundwork for HydroGreen to direct this significant inventory of 18 GLS 808 units to the planned initial feed-as-a-service (FaaS) installation in Visalia, Calif. "Having such an immediate substantial inventory gives us a significant head start in our planning for the deployment of 40 GLS 808 systems needed to build the first feed center in Visalia, Calif.," says Mr. Kyne.

"HydroGreen is in an excellent position to become the leading fresh sprouted grain producer in the U.S. with its list of identified feed opportunities in central California, Oklahoma, Kansas and Arizona to name a few. The company has communicated this strategy to investors over the last six months regarding the opportunity to build and operate regional feed hubs in areas of high concentration of beef and dairy cattle, thus benefiting the company and its shareholders from the development of a highly predictable recurring revenue business," said Cubicfarm chairman Daniel Burns.

About Cubicfarm System Corp.

Cubicfarm is a 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 subsidiary of Cubicfarm Systems. The Cubicfarm system contains patented technology for growing leafy greens and other crops on-site, indoors, all year-round. Cubicfarm provides an efficient, localized food supply solution that benefits people, the planet and the economy.

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