CubicFarms Provides Update on HydroGreen's Feed Center in California and Strategic Expansion into Oklahoma

Vancouver, British Columbia--(Newsfile Corp. - January 23, 2024) - CubicFarm® Systems Corp. (TSXV: CUB) ("CubicFarms" or the "Company"), a leading agricultural technology company, announced that its ruminant livestock feed subsidiary company, HydroGreen Inc. ("HydroGreen"), has agreed to enter into a partnership agreement with Hansen Industries to construct two Feed Centers in Visalia, California, each equipped with 20 GLS 808 machines. This agreement is designed to fulfill the previously announced, pre-existing demand for 120 tons of fodder per day of fresh sprouted grains as part of a Feed as a Service ("FaaS") offering.

"We are excited to partner with HydroGreen to build Feed Centers and provide an industry-changing feed additive," says Shane Hansen, Founder and CEO of Hansen Industries. "The Feed Centers will be developed and built in Visalia, CA to supply sprouted grains to our existing signed customer base to add to their daily feed ration. As observed in research trials, the positive impact of this high-performance feed additive is evident in the herd within days. We are only beginning to understand the long-term health benefits that HydroGreen provides to the animal, and the value that it brings back to the producer. Any dairyman will tell you, 'You have to feed it to believe it!' This partnership will allow us to do just that." Hansen Industries is renowned for delivering high-quality dairy industry products and services with a focus on building long-term relationships with customers.

In addition to the progress in Visalia, California, HydroGreen announces plans for an additional Regional Feed Center in Tulsa, Oklahoma with Precision Capital Ventures. In this agreement, HydroGreen will be the exclusive FaaS supplier of fresh fodder to Precision Capital Ventures, with HydroGreen building and operating the Regional Feed Centers on behalf of the customer.

Gabe Orr, Founder and Partner of Precision Capital Ventures said, "Precision Capital Ventures looks to rely on HydroGreen's service to scale and build our future in grass-fed beef operations, together we can produce verifiably healthier beef cattle for our consumers. Our initial plans will require one HydroGreen Feed Center to be added each year for the next four years." Precision Capital Ventures is a private equity firm founded by 4^th generation beef ranchers, specializing in innovative technologies in the agriculture and beef industries.

"This expansion of HydroGreen's operations showcase HydroGreen's capacity to meet large-scale needs for the evolving agricultural sector through practical, efficient solutions," said John de Jonge, President and CEO of HydroGreen. "Our goal is to bring continuous value to producers while diversifying HydroGreen's geographical footprint throughout the US."

"HydroGreen's recent agreements are pivotal in the execution of our FaaS model, showcasing our ability to innovate both independently and in collaboration with key agricultural partners. Our strategy for 2024 and beyond is centered on expanding Feed Center operations in crucial US markets. This expansion is not just about growth; it's about solidifying a sustainable source of recurring revenue for the company," said Michael Kyne, CFO of CubicFarms and HydroGreen.

Contact info@cubicfarms.com for media or investors@cubicfarms.com for investor inquiries. Contact HGInfo@hydrogreenglobal.com to reach HydroGreen's Producer Education Team.

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: the estimated harvesting capabilities of the machines, nutritional benefits of feed produced by the machines and quality of the feed in general. Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. 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.

About HydroGreen
HydroGreen produces Automated Vertical Pastures™, a type of smart farming equipment that uses a unique process to sprout grains such as wheat and barley, in a controlled growing environment to efficiently produce a high-performance feed ingredient for livestock 365 days a year. HydroGreen's equipment is simple and easy to operate and performs all growing functions automatically, including seeding, watering, lighting, harvesting, and re-seeding, which allows livestock businesses to feed consistent nutrition every day with minimal labour. When balanced correctly in the ration, HydroGreen sprouted grain modifies animal digestion which enhances productivity and reduces the amount of enteric methane emitted in ruminant livestock. The result also enables environmental benefits to the farm while helping to meet increasing demand for valuable farm-based inset and offset carbon credits. For more information, please visit www.hydrogreenglobal.com.

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 subsidiary of CubicFarm Systems Corp. The CubicFarms™ system contains patented technology for growing leafy greens and other crops on-site, 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.

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