07:42:39 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
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Nextgen Food Robotics Corp
Symbol NGRB
Shares Issued 50,555,495
Close 2023-12-18 C$ 0.13
Market Cap C$ 6,572,214
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Nextgen Food acquires commissary facility for $550,000

2023-12-18 09:29 ET - News Release

Mr. Paul Rivas reports

NEXTGEN ACQUIRES COMMISSARY KITCHEN FACILITY

NextGen Food Robotics Corp. has acquired an established, 10,000-square-foot commissary facility located in central Vancouver, pursuant to an asset purchase agreement.

Pursuant to the terms of the agreement, the company has assumed the lease and acquired all of the facility's equipment -- including an expansive array of high-end equipment and cold storage -- allowing the company to take over the facility on a turnkey basis and to commence operations immediately following closing. The company paid a cash purchase price of $550,000.

Paul Rivas, chief executive officer of NextGen, commented: "We are excited with the continued expansion of our commissary division. Our new facility will provide start-ups, entrepreneurs, ghost kitchens and small food manufacturers with an opportunity to build their brands."

About NextGen Food Robotics Corp.

Nextgen Food Robotics is an automated robotic food co-packer and manufacturer that uses technology to modernize its food manufacturing processes. Additionally, Nextgen is developing the Lily app, which is an artificial intelligence (AI)-powered food application.

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