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Urban Barns Foods Reorganizes for Market Thrust in Middle East
VANCOUVER, British Columbia, Dec. 20, 2011 /PRNewswire/ -- Urban Barns Foods Inc. (URBF.QB) ("Company" or "Urban Barns"), a leading authority on sustainable development of fresh vegetables, following a recommendation of the Nominating Committee, announced that it accepts Mark Hanson's resignation from the Board. Urban Barns is also pleased to announce that Talal Thabet, CEO of Profound Management, will take over the key role as Head of MENA (Middle East & North Africa) Investments. Dan Meikleham, Chairman and CFO of URBAN BARNS said, "Mark's departure is a result of other commitments that prevent him from devoting ample time to Urban Barns. We wish him the best of luck in his future endeavours. We are pleased with the progress and relationship that has developed with Mr. Thabet and are confident that Talal is the suitable choice for this strategic post. Talal comes with a strong background in investment and an impressive relevant network in the MENA region. We are confident that his appointment to the post of Head of Investments MENA Region for Urban Barns will move us into target market territories that we need to be in." Commenting on his new appointment, Mr. Thabet stated, "I am very excited to be taking over this dynamic and challenging role from Mark, a dear colleague. We have already begun speaking to certain investors in the Middle East and I strongly believe that the last ten years I have spent in the MENA region creating solid strategic contacts will now be put to good use to see Urban Barns launch in MENA within 2012." Asked about his short to medium plans for Urban Barns, Thabet explained, "The UAE base in Dubai will act as a springboard for the company to introduce its ground-breaking proprietary growing technology to the rest of the MENA region. Once we have shortlisted our top 10 list, we will meet with them individually and assess the best offers in terms of space, location, and proximity to other retailers in terms of distribution channels. We anticipate completing the first phase by the end of Q1, 2012 but will keep you informed on our developments as they happen." Thabet added, "This is a very exciting time for us and for Urban Barns and we are extremely glad to be the pioneer to bring this leading-edge agricultural technology to our region, hoping to enhance and revolutionize modern day agriculture by leaps and bounds." About Profound Management GT LLC. Profound GT LLC. is a specialist in market entry consultation for the Middle East, specifically for the Gulf region. The Profound team brings to the table a strong profile of successful consultancy experience. Clients that can be mentioned include MEGA Holding and its subsidiaries in Bahrain, Trace Design Consultants and Park Central Corporation in the UAE, Retaj Real Estate Company in Qatar, International Railway Company and Machine Vending International to name a few. The Profound team has also worked extensively with Chambers of Commerce and Industry in the region and certain municipal authorities. About Urban Barns Foods Inc. Urban Barns uses patent pending proprietary equipment to produce affordable vegetables in a secure and controlled indoor environment. By setting up subsidiary facilities and growing locally, Urban Barns can focus on supplying any community, irrespective of the regional climate, effectively reducing shipping times and related spoilage costs. Urban Barns has the unique ability to scale and cater to the demands of all major communities. Our commitment to our consumers is reflected through our motto, "Purely Fresh, Naturally Tasty, and Completely Healthy". Urban Barns and Urbanbarnsfoods.com and Cubic Farming are registered trademarks and the copyright of Urban Barns Foods Inc. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies. Forward-Looking Statements: Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Urban Barns or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Urban Barns' products, the competitive environment within the industry, the ability of Urban Barns to continue to expand its operations, the level of costs incurred in connection with Urban Barns' expansion efforts, economic conditions in the industry and the financial strength of Urban Barns' customers and suppliers. Urban Barns does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties. Contacts: SOURCE Urban Barns Foods Inc.
Urban Barns Foods Inc.
Media Contact: ir@urbanbarnsfoods.com
www.urbanbarnsfoods.com
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