VANCOUVER, BC, Aug. 08, 2023 (GLOBE NEWSWIRE) -- NextGen Food Robotics Corp. (the “Company” or “NextGen”) (NEO: NGRB; OTC Pink: NGRBF; Frankfurt: O83) is pleased to announce, further to its news release dated June 1, 2023, that it has entered into an agreement (the “Lease Agreement”) to lease a facility (the “New Facility”) on West 3rd Avenue, in the heart of Kitsilano, Vancouver, BC. From the New Facility, NextGen intends to operate ghost and commissary kitchens, which the Company intends to retrofit with automated food manufacturing equipment. The Company also plans to sell products produced by members at the commissary directly to consumers at the New Facility. The Company expects to complete buildout of the New Facility by the end of October.
The Lease Agreement is for an initial term of ten years, commencing November 1, 2023, with an option to renew for two separate terms of five years each.
About NextGen Food Robotics
Nextgen Food Robotics is an automated robotic food co-packer and manufacturer that uses technology to modernize its food manufacturing processes. Additionally, Nextgen is developing the “Lily app”, which is an AI-powered food application.
For investor inquiries or further information, please contact:
Paul Rivas, Chief Executive Officer
1 (236) 471-1357
Cautionary Note on Forward-Looking Information
This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions and in this news release include statements respecting the terms of the Lease Agreement, the Company’s intended uses for the New Facility and the potential exercise of the renewals thereof and the timeline for buildout of the New Facility. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
Neither the Neo Exchange nor IIROC accepts responsibility for the adequacy or accuracy of this press release.
