VANCOUVER, BC, April 27, 2022 /CNW/ - CubicFarm® Systems
Corp. ("CubicFarms" or the "Company") (TSX:CUB), a leading
local chain agricultural technology company, has appointed
Carlos Yam as Chief Financial
Officer ("CFO") of the Company, effective June 27, 2022.
Previously, Yam served for three years as CFO of Agora Wealth
Corp., a company offering a digital wealth platform and services
for investment dealers and financial advisors in Canada. Prior to that, he served for over a
decade until 2018 as CFO of publicly-traded WesternOne Inc., where
he led deals in the construction and infrastructure services
sectors and executed related financing. He also helped integrate
the operations of new acquisitions for its global operations in
Canada, the United States, and Australia. In his role as Director of
Financial Planning at Intrawest ULC, held until 2007, Yam was part
of the finance team that successfully steered its US$2.8B privatization.
"I chose to join CubicFarms because I was moved by the team's
commitment to delivering innovative local chain farming technology
that contributes to food security with reduced carbon footprints,"
said Yam. "I see immense market potential for CubicFarms. The
CubicFarms and HydroGreen technologies evolved out of traditional
farming models into a new, more sustainable way to help farmers
keep growing locally and independently. This is hugely resonant
with the international investment community and most global ESG
mandates."
In his role as CFO of the Company, Yam will drive strategic
decisions and position CubicFarms for substantial growth. He will
continue strengthening core finance competencies including
financial reporting, planning and analysis, with effective business
risk oversight. Known for developing talent within an organization,
Yam plans to foster internal growth through capability
building.
"I'm excited about the direction that CubicFarms is headed, and
the momentum," Yam said. "The indoor growing technologies and data
science are compelling. I look forward to continuing to implement
best practices and optimizing the structure necessary for highly
disciplined growth."
With over 20 years of experience as a senior financial executive
for public and private companies, Yam is a Chartered Professional
Accountant (CPA, CA) in Canada and
Certified Public Accountant in the United
States (Illinois) and holds
a bachelor's degree in Business Administration from Simon Fraser University.
His achievements in business, judgment, leadership, and
community contributions were recognized in Business in Vancouver's Forty Under 40 awards in 2013.
Investor Relations Magazine named him Best Investor Relations by a
CFO in the Canadian small-cap company in the same year.
"We're thrilled to welcome Carlos as a strategic leader and CFO
of the Company," said Dave Dinesen, Chief Executive Officer,
CubicFarms. "He's passionate and driven, with an impressive record
of delivering stakeholder value in public and private companies.
He's a highly-effective leader whose significant knowledge of
equity markets and financial expertise will contribute
substantially to the structure and growth as we scale up our
technology and operations. Daniel
Burns, a member of the Company's board and interim CFO, and
our former CFO Tim Fernback, who has
taken on an advisory consulting role for special projects at the
Company, will both work closely with Carlos as he transitions into
his new role at CubicFarms."
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 division of CubicFarm Systems
Corp. The CubicFarms™ system contains patented technology for
growing leafy greens and other crops onsite, 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.
On behalf of the Board of Directors
"Dave Dinesen"
Dave Dinesen, Chief Executive Officer
This release may contain certain "forward-looking statements" or
"forward-looking information" under applicable securities laws.
Forward-looking terms such as "may," "will," "could," "should,"
"would," "plan," "potential," "intend," "anticipate," "project,"
"target," "believe," "plan," "outlook," "estimate," or "expect" and
other words, terms and phrases of similar nature are often intended
to identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements are based on certain key expectations
and assumptions made by the Company. Although management of the
Company believes that the expectations and assumptions on which
such forward-looking statements are based are reasonable, undue
reliance should not be placed on the forward-looking statements
because the Company can give no assurance that they will prove to
be correct.
SOURCE CubicFarm Systems Corp.