CAN: ZenCube machine fully operational

CubicFarm Systems Corp's ZenCube, its vertical-farming machine for growing hemp and cannabis, is fully operational at a showcase and R&D facility in Langley, Canada.

"The ZenCube project leverages CubicFarms' patented, undulating-path growing technology to allow hemp and cannabis growers to cultivate significant amounts of product in a smaller footprint by doing so in a completely climate-controlled environment," the team with the company explains. "The ZenCube helps to address challenges faced by traditional growing methods, by providing a solution that requires less space, labour, water and energy, and is expected to result in a more consistent, higher quality product for farmers and end-users alike."

According to them, CubicFarms has developed a pipeline of sales opportunities for its ZenCube-branded growing machines that is expected to be augmented by an exclusive License Agreement signed with Zenabis. Under terms of the agreement, Zenabis shall fulfill a minimum sales threshold of 150 ZenCube machines by year 2024 to maintain its exclusive license to operate, sell and sublicense ZenCube machines globally.

The License Agreement supersedes the Joint Venture Agreement between CubicFarms and Zenabis, announced in a Bevo Agro press release dated October 9, 2018. Bevo Agro now is Zenabis Global.

CubicFarms and Zenabis are conducting ongoing R&D on crop growth and quality at the Zenabis-owned-and-licensed Langley facility.

Dave Dinesen, Chief Executive Officer of CubicFarms, commented: "CubicFarms is excited to bring online its first growing machine for the purposes of facilitating yet another vertical in the hemp and cannabis space, and to help farmers grow more produce reliably, 12 months a year, wherever they are on earth. CubicFarms has received numerous enquiries to utilize our technology in this space and we are thrilled to serve this market, in addition to our other verticals, namely fresh produce, animal feed and nutraceuticals."

Leo Benne, Chief Growing Officer of Zenabis, added: "The Zenabis and CubicFarms partnership on the ZenCube project is a culmination of our joint vision of bringing a robust and reliable solution to the global hemp and cannabis market, to ensure we meet consistency and quality in our crop yields."

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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