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Cubicfarm Systems Corp
Symbol CUB
Shares Issued 84,179,714
Close 2020-01-23 C$ 0.40
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Cubicfarm appoints Booth as board chairman

2020-01-23 07:41 ET - News Release

Mr. Dave Dinesen reports

JEFF BOOTH, PRE-EMINENT TECHNOLOGY LEADER, APPOINTED CHAIRMAN OF BOARD OF DIRECTORS OF CUBICFARM SYSTEMS CORP.

Cubicfarm Systems Corp. has appointed Jeff Booth as chairman of the company's board of directors, effective immediately, which is subject to customary TSX Venture Exchange approval.

Mr. Booth has more than 25 years of experience as an entrepreneur, responsible for growing innovative on-line marketplace BuildDirect to over $120-million in annual revenues.

He is a recognized thought leader on entrepreneurship, technology and e-commerce, featured in publications such as Forbes, TechCrunch, the Inc. website, The Globe and Mail, BNN, Fast Company, Entrepreneur, Bloomberg, Time and the Wall Street Journal.

In 2015, he was named B.C. Technology Industry Association's (BCTIA) person of the year, and in 2016 Goldman Sachs named him among its 100 most intriguing entrepreneurs.

Mr. Booth is a founding partner of OtioLabs, co-founder of the addyinvest website and NocNoc, and serves on the boards of Terramera, the SPUD website, LlamaZOO, Synthiam and the Richmond Hospital Foundation, as well as numerous advisory boards.

Dave Dinesen, chief executive officer of Cubicfarm, commented: "I am delighted that Jeff has accepted the appointment of chairman of our board. His visionary leadership and wealth of experience in using technology to globally scale businesses will be instrumental to the continued growth at Cubicfarms. Cubicfarms stands to significantly benefit from Jeff's international network and deep understanding of industry and technology as we seek new markets and partnership opportunities for our automated controlled-environment growing systems for fresh produce and animal feed. We look forward to Jeff's guidance and participation in helping to drive strategy toward our objective of becoming a leading technology company in the agriculture space.

"I would also like to thank the board's outgoing chairman, Daniel Burns, for his valuable contributions to the company, particularly his guidance on capital markets and our 2019 public listing. Dan continues to provide his expertise as a member of the company's board of directors and audit committee."

Mr. Booth commented: "Cubicfarms has developed a leading technology to enable a new category of indoor farming that drastically improves the efficiency of growing nutritious food for people and livestock. I believe the company has an almost untapped opportunity in front of it by significantly reducing the environmental cost of food production in a meaningful way, and I am really excited to work with Dave and the team as they scale this technology internationally."

About Cubicfarm Systems Corp.

Cubicfarm Systems is an ag-tech company, commercializing large-scale, vertical farming solutions for global industrial markets. Founded in 2015, the company's mission is to provide industries around the world with efficient growing systems capable of producing predictable crop yields. Cubicfarm offers turnkey, commercial-scale, hydroponic, automated vertical farm growing systems that can grow predictably and sustainably for 12 months of the year virtually anywhere on earth. Cubicfarm enables its customers in the fresh produce, animal feed, nutraceutical and hemp/cannabis industries to grow locally and to provide their markets with safe, sustainable, secure and fresh ingredients that are consistent in colour, size, taste and nutrition, and allow for a longer shelf life.

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