MONTREAL, Feb. 12, 2014 (GLOBE NEWSWIRE) -- Mr. Horst Hueniken, Chairman of Urban Barns Foods Inc. (OTCQB:URBF) ("the Company" or "URBAN BARNS"), is pleased to announce that effective February 7, 2014, Mr. Jeremy Kendal has been appointed as a member of the Company's board of directors. In addition, effective February 7, 2014, Mr. Ned Goodman has resigned as a member of the Board of Directors.
Mr. Kendall is currently Chairman of the Board of SunOpta Inc (TSX: SOY ) and Opta Minerals Inc. (TSX: OPM ). In addition, Mr. Kendall serves on the Board of Directors of Mascoma Corporation, a renewable fuels company in which SunOpta has a 18.65% ownership position. Mr. Kendall also serves on the Board of Asia Bio-Chem Group Corp. (TSX: ABC ), a major starch manufacturer in China, and is Chairman of Jemtec Inc., listed on the TSXV. He is also a Director of a number of private and charitable organizations. He was Chairman of the College of Naturopathic Medicine for five years from 1993 to 1997.
Mr. Kendall has a BA in Economics (1962) and an MBA (1964) from the University of Western Ontario.
Having served as a Director of Stake Technology since 1978, in 1983, Mr. Kendall became Chairman and CEO of Stake Technology. After restructuring the company's finances and implementing a worldwide license agreement with France's largest engineering company, he led the development and sale of its equipment and technology in France, Canada, Finland and China. In 2005, Stake Technology had an opportunity to purchase the core assets of an industrial minerals business, located in Ontario, doing approximately $8.0 million in revenues. Since this acquisition the company is now known as Opta Minerals and has grown to $160 million and been listed on the TSX.
In 2009, Stake Technology purchased an agricultural business, known as Sunrich, sourcing and processing organic grains, in particular soybeans. Shortly thereafter, Stake Technology changed its name to SunOpta Inc. Mr. Kendall then led an active program of acquisitions in the organic and healthy product markets acquiring some 40 companies over the next 10 years and building SunOpta into an integrated billion dollar revenue Company and one of the largest companies in the world in these markets. Today, the company has operations throughout the US, Holland, Bulgaria, China, South Africa and Ethiopia.
In 2007, he resigned as CEO but remains as Board Chair of SunOpta and Opta Minerals. As CEO of SunOpta, he was responsible for developing the strategic direction of the Company managing and financing the Company's operations internal growth projects and acquisition program. He developed a base of approximately 10,000 shareholders and built strong banking relationships for the Company.
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.
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 expanding 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.
Urban Barns Foods Inc. Richard Groome, CEO Tel: 514 907 4989 www.urbanbarnsfoods.com
