CubicFarms Corp. Announces Private Placement to Raise up to C$2.7 Million
Vancouver, British Columbia – March 14, 2025 – CubicFarms® Systems Corp. (TSXV: CUB), a pioneering agricultural technology company based in Vancouver, British Columbia, has announced its intention to conduct a non-brokered private placement to raise up to C$2.7 million. The offering, which is subject to the approval of the TSX Venture Exchange, will see the Company issue up to 9,000,000 Units at a price of C$0.30 per Unit.
Details of the Private Placement
Each Unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at an exercise price of C$0.45 for a period of 24 months from the closing date of the offering. The net proceeds from the offering will be used for working capital and general corporate purposes.
Impact on CubicFarms
The private placement represents a significant financing event for CubicFarms. The proceeds will provide the Company with the necessary funds to further develop and commercialize its innovative agricultural technology. CubicFarms’ proprietary technology, known as the CubicFarm™ System, uses hydroponic technology to grow crops in large, automated, stacked growing modules. The system is designed to produce crops more efficiently and sustainably than traditional farming methods.
Impact on Consumers and the World
The successful completion of the private placement could have far-reaching implications for consumers and the world at large. With the global population projected to reach 9.7 billion by 2050, there is a pressing need to increase food production while minimizing the environmental impact of agriculture. CubicFarms’ technology addresses both of these challenges by producing crops more efficiently and sustainably. The additional funds raised through the private placement will allow the Company to expand its operations and bring its technology to more farmers, helping to meet the growing demand for food while reducing the environmental footprint of agriculture.
Conclusion
In conclusion, CubicFarms’ announcement of a C$2.7 million private placement represents an exciting opportunity for the Company to further develop and commercialize its innovative agricultural technology. With the global population continuing to grow, there is a pressing need for more sustainable and efficient farming methods. CubicFarms’ technology addresses this need, and the proceeds from the private placement will enable the Company to expand its operations and bring its technology to more farmers. This not only benefits consumers by ensuring a steady food supply but also contributes to a more sustainable future for agriculture.
- CubicFarms announces C$2.7 million private placement
- Proceeds to be used for working capital and general corporate purposes
- Each Unit consists of one common share and one-half of one common share purchase warrant
- Funds could help address global food production challenges and reduce environmental impact of agriculture
