VANCOUVER, Dec. 10 /CNW/ - Urban Barns Foods (URBF.OB), is pleased to announce that it 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 25,000,000 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 Inc.:
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. Our commitment to our consumers is reflected through our motto, "Purely Fresh, Naturally Tasty, Completely Healthy."
Urban Barns Foods and Urbanbarnsfoods.com are registered trademarks and the copyright of Urban Barns Foods Inc. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Urban Barns Foods Inc.'s filings with the Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE URBAN BARNS FOODS INC.
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