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Cubicfarm Systems Corp
Symbol CUB
Shares Issued 84,179,714
Close 2020-03-04 C$ 0.32
Recent Sedar Documents

Cubicfarm files preliminary prospectus for $8M offering

2020-03-04 18:54 ET - News Release

Mr. Kimberly Lim reports

CUBICFARM SYSTEMS CORP. FILES PRELIMINARY SHORT FORM PROSPECTUS IN CONNECTION WITH PROPOSED OFFERING OF UP TO $8,000,000 OF COMMON SHARES

Cubicfarm Systems Corp. has filed a preliminary short form prospectus with respect to an offering of common shares in the amount of up to approximately $8-million. The offering is being conducted on a best efforts agency basis under the terms of an agency agreement to be entered into between the company and Raymond James Ltd. as sole bookrunner and co-lead agent with Canaccord Genuity Corp. and Beacon Securities Ltd. The offering will be conducted in each of the provinces of Canada. The price per offered share will be determined in the context of the market before filing the final short form prospectus.

The net proceeds from the offering are expected to be used for research and development, working capital, and capital costs in connection with the company's new facilities in British Columbia and South Dakota.

The company has granted to the agents an overallotment option, exercisable, in whole or in part, at the sole discretion of the agents for a period of 30 days from and including the closing date of the offering, to sell up to an additional 15 per cent of the offered shares to cover the agents' overallotments, if any, and for market stabilization purposes.

The offering will be conducted in each of the provinces of Canada by way of a short form prospectus. The company has applied to list the common shares issuable in connection with the offering on the TSX Venture Exchange. A copy of the prospectus is available under the company's SEDAR profile. The offering is subject to certain customary conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSX-V.

About Cubicfarm Systems Corp.

Cubicfarm is a technology company that is developing and deploying technology to feed a changing world. Its proprietary technologies enable farmers around the world to grow high-quality, predictable crop yields. Cubicfarm's first technology is its patented Cubicfarm system, which contains patented technology for growing leafy greens and other crops. The second technology is Cubicfarm's HydroGreen system for growing nutritious livestock feed.

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