CubicFarm Systems Corp. Announces Permanent Chief Financial Officer and New Head of People

VANCOUVER, BC / ACCESSWIRE / May 19, 2020 / CubicFarm® Systems Corp. (TSXV:CUB) ("CubicFarms" or the "Company") is pleased to announce the appointments of Tim Fernback as its permanent Chief Financial Officer, and Jacqui Noftall as Head of People, effective immediately.

In March, CubicFarms announced the appointment of Mr. Fernback as interim Chief Financial Officer. Mr. Fernback now has transitioned into a permanent role with the Company. He has over 25 years of finance experience as a director and officer of public and private technology, natural resources, health and biosciences companies. In the past, he has held senior executive positions within the investment banking and venture capital industries, as well as progressively senior executive officer positions within growing businesses, including ModoHR Technologies, Upstream Biosciences and Ronin8 Technologies.

In addition to these senior finance and operations positions, Mr. Fernback has successfully worked as a consultant in a variety of industries including biotechnology, SaaS, software, hospitality, manufacturing, mining, oil and gas, and real estate development.

Mr. Fernback has served on the board of numerous companies listed on the TSX Venture Exchange ("TSXV"). He currently holds directorships in TSXV-listed Deep-South Resources and Tri Capital Opportunities.

He holds a Bachelor of Science degree in Microbiology from McMaster University and a Master of Business Administration degree specializing in Finance from the University of British Columbia. He is also a designated Chartered Professional Accountant and Certified Management Accountant.

Jacqui Noftall has 25 years of experience as a seasoned human resources leader specializing in implementing people programs and services for recognized top employers. She has held executive and senior leadership positions in the finance, higher education, and real estate sectors and has experience building global human resources and operational infrastructure for start-ups, including Citizens Bank (now Vancity Community Investment Bank) - one of Canada's first online banks.

Ms. Noftall has consulted for a variety of industries including technology, environmental and social justice, legal, sports and tourism. She holds a Masters in Leadership and Change Management from Royal Roads University.

"We are thrilled to have Tim fully on board. In just two short months, he has added tremendous value to CubicFarms, helping to steer our strategic planning and execution throughout the onset of the Covid-19 pandemic and landmark private placement with Ospraie Ag Science," said CubicFarms CEO Dave Dinesen.

"We are also delighted to welcome Jacqui to drive our people initiatives alongside the company's board and management team. As Head of People, Jacqui will work towards company-wide alignment with our core values of respect, curiosity, passion to get better, resourcefulness, having fun and accountability -that is necessary for realizing an engaging, high-performance culture within the business. We look forward to working with both Tim and Jacqui to continue on our path to growth and provide the technology to feed a changing world; one that is increasingly prioritizing sustainability, food production efficiency and food security."

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.

About CubicFarm® Systems Corp.

CubicFarm Systems Corp. ("CubicFarms") is a technology company that is developing and deploying technology to feed a changing world. Its proprietary technologies enable growers around the world to produce high-quality, predictable crop yields. CubicFarms has two distinct technologies that address two distinct markets. The first technology is its patented CubicFarm™ System, which contains patented technology for growing leafy greens and other crops. Using its unique, undulating-path growing system, the Company addresses the main challenges within the indoor farming industry by significantly reducing the need for physical labour and energy, and maximizing yield per cubic foot. CubicFarms leverages its patented technology by operating its own R&D facility in Pitt Meadows, British Columbia, selling the System to growers, licensing its technology and providing vertical farming expertise to its customers.

The second technology is CubicFarms' HydroGreen System for growing nutritious livestock feed. This system utilizes a unique process to sprout grains, such as barley and wheat, in a controlled environment with minimal use of land, labour and water. The HydroGreen System is fully automated and performs all growing functions including seeding, watering, lighting, harvesting, and re-seeding - all with the push of a button - to deliver nutritious livestock feed without the typical investment in fertilizer, chemicals, fuel, field equipment and transportation. The HydroGreen System not only provides superior nutritious feed to benefit the animal, but also enables significant environmental benefits to the farm.

CONTACT:

Kimberly Lim
[email protected]
Phone: +1-236-858-6491
www.cubicfarms.com

SOURCE: CubicFarm Systems Corp