Urban Barns Foods Inc. announced yesterday that they met with target clients and government officials. In addition, the Company also announced their financial results for the third quarter ending April 30, 2010.
As previously announced, the Company has followed up their initial series of meetings in Puerto Rico by two additional visits in June 2010 with meetings between their Board of Directors and officials of the Economic Development Corporation of Puerto Rico (PRIDCO).
Mr. Dan Meikleham, Urban Barns Chairman and Chief Financial Officer, commented, “Undeterred by the disappointment of not receiving the initial startup financing we expected in December, 2009, we are very pleased with the progress made in our first full quarter reporting period since the reverse takeover on December 4, 2009, both with the $5 million financing commitment and the negotiations for startup buildings and business relationships with identified target customers.”
Concerning their meeting several produce growers and distributors, Mr. Cesar A. Montilla, Jr., Urban Barns Director of Marketing, said, “Based on the discussions with our identified Puerto Rico partners, it is now our aim to commence operations in Puerto Rico immediately following receipt of previously announced funding and further intend to finish this calendar year with multiple growing locations throughout Puerto Rico and growing a number of different crops to satisfy unfulfilled current demand.”
Urban Barns Chief Executive Officer, Mr. Jacob (Jack) Benne, stated, “Although the Company is still in the development stage we enter the end of our fiscal year July 31, 2010, with the most positive momentum in the Company’s recent history and we see significant interest among major customers as well as many new potential partners in the sector.” Benne commented, “Additionally, we see the possibility of excellent opportunities for collaboration and strategic initiatives as we head to the conclusion of the fiscal year 2010.”
With a Canadian headquarters in Milner, BC, Canada, and a Puerto Rican headquarters in Hato Rey, PR, Urban Barns Foods Inc. is creating a network of buildings. The Company takes abandoned warehouses or other buildings and turns them into agricultural facilities. These buildings have a controlled indoor climate, and are equipped with patented growing machines. The Company’s methods have been shown to yield more food per square foot than a greenhouse. In addition, they produce significantly less waste. Urban Barns can focus on supplying any community, no matter what the regional climate, by setting up subsidiary facilities and growing locally. This reduces shipping times and related spoilage costs.
For more information visit: Urbanbarnsfoods.com