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Dec. 11, 2009 Vancouver – Urban Barns Foods has completed its acquisition
of Urban Barns Foods Inc., a private company engaged in the business of growing
fruit and vegetables in urban environments. As part of the closing, Urban
Barns, the public company issued 25 million shares of its common stock to the
original shareholders of Urban Barns, the private company, and the private
company became a wholly owned subsidiary of the public company.
“I’m pleased that this transaction has closed and that we can now focus
on this tremendous opportunity before us,” said Jack Benne, president and CEO
of Urban Barns. “Now that all of these administrative issues are behind us, we
can start moving Urban Barns forward at a rapid pace. We’re confident that in
the next few months we’ll provide our shareholders with many exciting
developments as our company expands and changes the way people in urban
environments get their fruit and vegetables.”
ABOUT URBAN BARNS FOODS
Urban Barns Foods uses proprietary equipment to produce affordable fruits
and vegetables in a secure and controlled indoor environment. By setting up
subsidiary facilities and growing locally, Urban Barns Foods can focus on
supplying any community, irrespective of the regional climate, effectively
reducing shipping times and related spoilage costs. Urban Barns Foods has the
unique ability to scale and cater to the demands of all major communities.
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