Replies to post #10048 on Urban Barns Foods Inc (URBF)

[pennystock_es]

In the past, I understand that Dundee Corporation owned the majority of $URBF shares, does anyone know if he sold his entire stake or is still a $URBF shareholder ?

Urban Barns Obtains $500,000 US Financing from Dundee Agricultural Corporation and Jeremy Kendall, Director of Urban Barns Foods Inc.
Montreal, Quebec--(Newsfile Corp. - April 10, 2014) - URBAN BARNS FOODS INC. (OTCQB: URBF) ("the Company" or "Urban Barns"), announces a private placement financing of 21,367,521 common shares ("Common Shares") of the Company priced at 2.34 cents per Common Share for gross proceeds of $500,000 US. The price per Common Share was determined by the 20 day weighted average closing price of the Common Shares to Monday, April 7th, 2014. Dundee Agricultural Corporation ("Dundee"), a significant shareholder of the Company, and Jeremy Kendall, a Director of the Company subscribed for Common Shares of this offering.

The Company announces that it has closed on the $400,000 US subscription by Dundee and expects to close the balance of the financing on or before April 22, 2014.

The proceeds of the financing will be used for working capital to prepare and launch the world's first commercial Cubic Farm located in Mirabel, Quebec.

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". The websites www.urbanbarns.com and www.urbanbarnsfoods.com are registered trademarks and Cubic Farming and Cubic Agriculture are copyright of Urban Barns. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies.



https://www.newsfilecorp.com/release/9480/Urban-Barns-Obtains-500000-US-Financing-from-Dundee-Agricultural-Corporation-and-Jeremy-Kendall-Director-of-Urban-Barns-Foods-Inc.