Foundation Farms Corp., Issues Purchase Order For First Vertical Farm Installation

Rhea-AI Summary

Foundation Farms, a subsidiary of GME Innotainment (OTC PINK: GMEV), announced a purchase order for vertical farming equipment for its Red Deer location. ZipGrow Inc. will provide a hydroponic system, touted as a leading indoor vertical farming platform. Installation is scheduled for early Q2 2021. CEO Ed Kroeker emphasized their commitment to excellence in vertical farming and highlighted the proprietary E-ROOTS system as a technological advantage. GMEV CEO Yves R. Michel reinforced the importance of a strong foundation for growth.

Positive

• Issuance of a purchase order for vertical farm equipment signifies active expansion.
• Collaboration with ZipGrow Inc. provides access to proven hydroponic technology.
• The proprietary E-ROOTS system may enhance profitability and product quality.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / February 4, 2021 / Foundation Farms, Corp., ("Foundation Farms") a subsidiary of GME Innotainment, Inc. (OTC PINK:GMEV) today announced that the Company has issued a purchase order for the supply and installation of vertical farm equipment package for the Company's Red Deer location. ZipGrow Inc., will supply Foundation Farms with its hydroponic plant production system that is marketed as "the most established, successful and economical indoor vertical farming platform on earth". Installation and commissioning will be completed at the beginning of the second quarter of 2021. In the meantime, the company is reviewing additional locations for its vertical farms.

When asked about the company's choice of suppliers for this first of many vertical farms, Ed Kroeker, CEO of Foundation Farms stated, "As a company we are committed to becoming known as the best owner operator in the vertical farming business sector. We have selected a basic grow technology that has commercially proven itself throughout all climatic and socio-economic zones. ZipGrow has supplied installations that are operating successfully in the far north, across southern Canada, throughout the continental United States and, more recently, in the Middle East. The addition of our proprietary E-ROOTS system will catapult us forward as technology leaders in an industry where success is measured by profitability, superior product quality, and local consumer supply security."

Yves R. Michel, GMEV CEO supported the supplier selection decision by stating, "The company name itself-Foundation Farms-reflects a corporate culture which recognizes that strong foundations are necessary to support large growth. I am pleased that the team continues this growth strategy in its selection of a technology supplier. By adding its own E-ROOTS package to the foundation, the company has already signaled its leadership agenda to the industry".

Contact:

Yves R. Michel
Chief Executive Officer and Director
208 East 51st St., Suite 170
New York, NY 10022
www.srcorpgroup.com

OTC PINK: GMEV

This press release may include certain statements that are forward-looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on GME Innotainment, Inc., current expectations and projections regarding future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to GME Innotainment, Inc.'s anticipated new developments, business prospects, financial performance, strategies and similar matters. GME Innotainment, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

SOURCE: GME Innotainment, Inc.

View source version on accesswire.com:
https://www.accesswire.com/627637/Foundation-Farms-Corp-Issues-Purchase-Order-For-First-Vertical-Farm-Installation

FAQ

What did GMEV announce on February 4, 2021?

On February 4, 2021, GMEV's subsidiary Foundation Farms announced a purchase order for vertical farming equipment.

What is the significance of the E-ROOTS system in GMEV's vertical farming initiative?

The E-ROOTS system is expected to enhance profitability and product quality for Foundation Farms.

Who is the supplier of vertical farming equipment for GMEV?

Foundation Farms has selected ZipGrow Inc. as the supplier for its vertical farming equipment.

When is the installation of the vertical farm equipment scheduled for GMEV?

The installation and commissioning of the vertical farm equipment is set for early Q2 2021.