CubicFarm Systems Corp. Provides Default Status Report

Vancouver, British Columbia--(Newsfile Corp. - May 27, 2025) - CubicFarm® Systems Corp. (TSXV: CUB) (OTC Pink: CUBXF) ("CubicFarms" or the "Company"), a leading local chain agricultural technology company, is providing this default status report in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").

On May 1, 2025, the Company announced that it was unable to file its annual audited financial statements for the fiscal year ended December 31, 2024, and the related management's discussion and analysis and annual information form for the fiscal year ended December 31, 2024 (the "Required Filings") by the deadline of April 30, 2025.

On May 1, 2025, the British Columbia Securities Commission, as principal regulator, granted a temporary management cease trade order (the "MCTO") to the Company until June 30, 2025. The Company intends to file the Required Filings as soon as practicable.

Pursuant to NP 12-203, the Company is required to file bi-weekly default status reports by way of news releases for the duration of the MCTO. The Company confirms that there have been no material changes to the information contained since its May 1, 2025 news release, except that it has now been granted an extension by the British Columbia Securities Commission to file the required financial statements by June 30, 2025. The audit process is still ongoing. The Company confirms there have been no failures by it in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203, and there has not been, nor is there anticipated to be, any specified default subsequent to the default announced in the Company's news release of May 1, 2025. Lastly, there is no material information concerning the affairs of the Company that has not been generally disclosed.

Forward looking and other cautionary statements

This news release may contain "forward-looking statements" within the meaning of applicable securities laws, including statements related to the Company's governance, strategic direction, and future leadership plans. Forward-looking statements are based on expectations, assumptions, and estimates as of the date of this news release and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially. These statements are typically identified by words such as "anticipate," "expect," "intend," "may," "will," "could," "should," or similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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 labor. 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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