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CubicFarm Systems Corporation: Announces Failure to File Cease Trade Order
Newsfile· 2025-07-04 20:20
Core Viewpoint - CubicFarm Systems Corp. has received a failure-to-file case trade order (FFCTO) from the British Columbia Securities Commission due to delays in filing required financial statements for the fiscal year ended December 31, 2024, and interim financial statements for the three-month period ended March 31, 2025 [1][2]. Group 1: Regulatory Actions - The BCSC issued the FFCTO prohibiting trading in the company's securities in Canada, with specific conditions allowing certain beneficial securityholders to sell their securities under regulated market conditions [1][2]. - The FFCTO replaces a previously granted management cease trade order that was issued on April 30, 2025, which has now been revoked [3]. Group 2: Financial Reporting Delays - The company failed to file its Required Annual Filings by the April 30, 2025 deadline and Required Interim Filings by the May 30, 2025 deadline, as mandated under National Instrument 51-102 [2]. - The company is actively working with auditors to complete the Required Filings and expects to file the Required Annual Filings for 2024 in the coming weeks [3]. Group 3: Company Overview - CubicFarms is a leading local chain agricultural technology company focused on developing solutions for sustainable food production, utilizing proprietary ag-tech solutions to produce high-quality produce and livestock feed [5]. - The company’s HydroGreen Nutrition Technology division offers innovative growing systems that enable year-round production of crops indoors, contributing to a localized food supply [5].
CubicFarm Systems Corp. Provides Default Status Report
Newsfile· 2025-05-27 20:41
Core Points - CubicFarm® Systems Corp. is currently under a temporary management cease trade order (MCTO) until June 30, 2025, due to its inability to file annual audited financial statements by the April 30, 2025 deadline [2][3] - The British Columbia Securities Commission has granted an extension for the company to file the required financial statements, which are still undergoing the audit process [4] - The company has confirmed that there have been no material changes in its situation since the last news release on May 1, 2025, and it continues to comply with the alternative information guidelines [4] Company Overview - CubicFarms is a leading local chain agricultural technology company focused on developing and deploying technology to address food supply challenges [8] - The company’s proprietary ag-tech solutions enable the production of high-quality, predictable produce and fresh livestock feed through its HydroGreen Nutrition Technology [8] - CubicFarms' systems utilize patented technology for growing crops indoors year-round, providing an efficient and localized food supply solution [9]
CubicFarm Systems Corp. Announces Grant of Management Cease Trade Order
Newsfile· 2025-05-01 21:53
Core Viewpoint - CubicFarm Systems Corp. has received a management cease trade order (MCTO) from the British Columbia Securities Commission, allowing the company until June 30, 2025, to file its annual financial statements for the year ended December 31, 2024, due to delays in completing its year-end audit for 2023 [1][2][6]. Group 1: Management Cease Trade Order (MCTO) - The MCTO prohibits the CEO and CFO from trading in the company's securities until the required filings are submitted [3]. - The company is committed to following the alternative information guidelines while in default for failing to file the required documents [4]. - Failure to file the required filings within the two-month grace period may lead to a cease trade order (CTO) being imposed by securities regulators [6]. Group 2: Audit and Financial Statements - The delay in filing is attributed to the completion of the previous audit for the year ended December 31, 2023 [2]. - The company has engaged its auditor to complete the audit of the financial statements and expects to file the required documents by June 30, 2025 [7]. Group 3: Company Status - As of the date of the announcement, the company is not undergoing any insolvency proceedings and has disclosed no other material information that has not been made public [5].
CubicFarms Announces Resignation of Board Director David Cole
Newsfile· 2025-04-18 00:58
Core Insights - G. David Cole has resigned from the Board of Directors of CubicFarm® Systems Corp. effective April 16, 2025, due to his upcoming retirement from RBC and a planned reduction in professional commitments [1][3] - Cole joined the Board in January 2022 and contributed significantly to the company's strategic direction during a transformative period [2][3] Company Overview - CubicFarms is a leading agricultural technology company focused on developing and deploying innovative solutions to address global food supply challenges [7][8] - The company utilizes proprietary ag-tech solutions to produce high-quality, predictable produce and fresh livestock feed, leveraging HydroGreen Nutrition Technology, a subsidiary of CubicFarm Systems Corp. [7][8]
CubicFarm Systems Corp. Announces Closing of Private Placement
Newsfile· 2025-03-31 21:36
Core Points - CubicFarm® Systems Corp. has successfully closed a non-brokered private placement of units, raising approximately C$2,500,000 [1][2] - The first tranche involved the issuance of 8,340,781 units at a price of C$0.30 per unit, with each unit consisting of one common share and one warrant [2] - The company will use the proceeds for general working capital and corporate purposes [3] Private Placement Details - Each warrant allows the holder to acquire one common share at an exercise price of C$0.50 for a period of 12 months [2] - The company has opted not to close another tranche of the private placement, with no insider participation or finder's fee involved [3] - The securities are subject to a four-month transfer restriction, expiring on July 25, 2025 [4] Company Overview - CubicFarms is a leading agricultural technology company focused on developing solutions for local food production [8] - The company’s proprietary technology enables the production of high-quality produce and livestock feed year-round in controlled environments [8] - HydroGreen, a division of CubicFarms, utilizes automated vertical growing technology to minimize resource use while maximizing nutritional output for livestock [7]
HydroGreen Secures Third Order from Agrotopia Ireland, Expanding Adoption of Climate-Smart Feed Solutions
Newsfile· 2025-03-07 13:30
Core Insights - HydroGreen, a subsidiary of CubicFarm Systems Corp., has secured a third order of five GLS 808 machines from Agrotopia Ireland, indicating a growing demand for its Automated Vertical Pastures™ system in Ireland's livestock sector [1][2][3] Company Overview - HydroGreen specializes in producing Automated Vertical Pastures™, which efficiently sprout grains like wheat and barley in a controlled environment to create high-performance livestock feed year-round [6] - The technology automates all growing functions, allowing livestock businesses to provide consistent nutrition with minimal labor [6] Industry Context - The increasing adoption of HydroGreen's systems highlights the importance of agricultural trade shows, where farmers seek cost-effective, climate-smart feed alternatives [2] - Agrotopia, as a leading hub for sustainable agriculture in Ireland, integrates advanced hydroponic technology to produce fresh, nutrient-rich fodder for livestock, enhancing agricultural efficiency and reducing environmental impact [8][9] Partnership Dynamics - The partnership between HydroGreen and Agrotopia has been beneficial, with Agrotopia planning a rapid expansion in 2025-2026 due to the success of initial installations [3] - Agrotopia's strategic location provides excellent access to regional and national fairs, enhancing the visibility of HydroGreen's technology [3] Market Trends - The demand for sustainable and efficient agricultural solutions is driving advancements in technology, with HydroGreen's systems positioned to meet the needs of progressive beef and dairy farmers [2][9] - The focus on reducing input costs while improving feed reliability and animal performance is a key trend in the livestock sector [3]
CubicFarms Announces Completion of Redmond Heritage Farms Project, Supporting the Growing Demand for Natural, Healthier Livestock Diets
Newsfile· 2025-03-06 13:30
Core Insights - CubicFarm Systems Corp. has completed the HydroGreen GLS 808 machine installation at Redmond Heritage Farms, addressing the rising demand for natural livestock feed solutions [1][3] - The project, valued at USD $340,308 (CAD $493,000), aligns with the company's mission to promote healthier and sustainable food production [2] - The completion of this project is part of a broader trend towards regenerative agriculture and natural livestock diets, reflecting consumer demand for cleaner food products [4] Financial Impact - Revenue from the Redmond Heritage Farms project will be recognized in Q1 2025, following the company's conservative revenue recognition policy [5][6] - Revenue from three previously commissioned projects will be recognized in Q4 2024, ensuring transparency in financial reporting [6] Market Trends - The grass-fed beef market is projected to reach USD $13.3 billion in 2025, growing at a CAGR of 4.4%, driven by consumer demand for antibiotic-free and naturally raised livestock [7] - Redmond Heritage Farms is committed to pasture-feeding its cows and using fresh, roughage-based diets, aligning with the growing consumer preference for natural products [8][10] Sustainability Initiatives - The HydroGreen GLS 808 machine is expected to produce half of the farm's daily feed using about 95% less water than traditional farming methods, promoting sustainability [11] - The project supports local agriculture and aims to optimize livestock nutrition while reducing environmental impact [10][11] Company Overview - HydroGreen specializes in Automated Vertical Pastures™, providing innovative indoor growing solutions for livestock feed [14] - CubicFarms develops ag-tech solutions to produce high-quality, predictable produce and livestock feed, contributing to a localized food supply [15] - Redmond Heritage Farms focuses on natural farming practices, producing raw milk and pasture-fed meat products, catering to health-conscious consumers [16]