CubicFarm Systems Corp. Announces Delisting from Toronto Stock Exchange

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2023) - CubicFarm® Systems Corp. (TSX: CUB) ("CubicFarms" or the "Company"), a leading local chain agricultural technology company, today announced that, in connection with its previously announced delisting review process, its common shares and 8.00% unsecured convertible debentures currently listed on the Toronto Stock Exchange ("TSX") will be delisted from the TSX at the close of markets on December 18, 2023 for failure to meet continued listing requirements. The Company will commence trading on the TSX Venture Exchange on December 19, 2023.

Neither the Toronto Stock Exchange not the TSX Venture Exchange has approved no disapproved the information contained herein.

About HydroGreen

HydroGreen's Automated Vertical Pastures™ technology utilizes a unique process to sprout grains, such as barley and wheat, in a controlled environment with minimal use of land, labour and water. HydroGreen's fully automated indoor growing technology performs all growing functions including seeding, watering, lighting, harvesting, and re-seeding-all with the push of a button-to deliver nutritious fresh forage for livestock without the typical investment in fertilizer, chemicals, fuel, field equipment, and transportation. Automated Vertical Pastures™ not only provide superior nutritious feed to benefit the animal but also enable significant environmental benefits to the farm.

About CubicFarms

CubicFarms is a leading local chain agricultural technology company developing and deploying technology to feed a changing world. Its proprietary ag-tech solutions enable growers to produce high quality, predictable produce and fresh livestock feed with HydroGreen Nutrition Technology, a division of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops onsite, indoors, all year round. CubicFarms provides an efficient, localized food supply solution that benefits our people, planet, and economy.

For more information, please visit www.cubicfarms.com.

Contact info@cubicfarms.com for media or investors@cubicfarms.com for investor inquiries.

Forward-Looking and other cautionary statements

Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, statements with respect to any potential listing of the Company's common shares. Such statements involve known and unknown risks, uncertainties, and other factors and assumptions which may cause the actual results, performance, or achievements of CubicFarm Systems Corp., or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information the risks that the Company may not be able to remedy its financial difficulties or it may not do it in the expected timeline, risks relating to the Company's ability to raise additional funding; risks relating to the Company's ongoing or future litigation; the Company's ability to establish, maintain and defend intellectual property rights in the Company's products; risks associated with product liability claims, insurance and recalls; risks associated with the Company's manufacturing operations; risks relating to the manufacturing capacity of third-party manufacturers for the Company's products, including risks of supply interruptions impacting the Company's ability to manufacture its own products and the other factors disclosed under "Risk Factors" in the Company's annual information form for the year ended December 31, 2022, and those risks described in other documents incorporated or deemed to be incorporated by reference in the prospectus. Such statements can be identified by the use of words such as "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict", and other similar terminology, or state that certain actions, events, or results "may", "can", "could", "would", "might", or "will" be taken, occur, or be achieved.

These statements reflect the Company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if the Company's expectations regarding future events, performance, or results change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191187