Foundation Farms, Corp., Provides Update to Shareholders

Rhea-AI Summary

Foundation Farms, Corp., a subsidiary of GME Innotainment, Inc. (OTC PINK:GMEV), reported significant growth in its vertical farming operations since the May launch of its first facility. The farm is currently on its fourth harvest, expanding from 6 to 23 crop varieties, including herbs and edible flowers. A partnership with Life Leaf Gardens to purchase all future products has been established, while a new online store has shown brisk activity. Marketing efforts have increased inquiries for joint ventures across North America, marking a rapid business expansion.

Positive

• Successful launch of first vertical farm with four harvests in four months.
• Expansion of crop varieties from 6 to 23, including new product lines.
• Partnership with Life Leaf Gardens for product purchase agreements.
• Detailed business plan indicating capital investment recovery in under two years.
• Establishment of an online store showing brisk sales activity.
• Increased inquiries for joint venture partnerships across North America.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / September 23, 2021 / Foundation Farms, Corp., (the "Company" or "Foundation Farms") a subsidiary of GME Innotainment, Inc. (OTC PINK:GMEV) today provided an update to shareholders of past and current achievements and of future plans for the company's vertical farming business. Management is excited to report that the opening of its first vertical farm in May has been a tremendous success. The facility is now into its fourth harvest just four months after startup. The range of crops grown has expanded form 6 different varieties of lettuce and mixed greens for the first crop to 23 different varieties of leafy greens, herbs, fruits/legumes and edible flowers in the current harvest. The local consumer market is responding enthusiastically to this availability of fresh locally produced products. Additional product diversity has included the production and packaging of "smoothie" beverage concentrates. The drying, packaging and sale of dried herbs has also become a popular and lucrative product option.

Management also reported that the success of these first four months has provided several valuable business expansion tools:

1. A new business partner-Life Leaf Gardens-has agreed to purchase all end products from all future vertical farms built by the company.
2. A detailed financial and business plan has been prepared for sharing with joint venture farm partners; a standard 450-tower farm like the one recently announced for Abbotsford, B.C. will yield complete capital investment recovery in less than two years.
3. An on-line store front has been assembled and commissioned to facilitate consumer purchase and delivery of locally produced farm products; brisk activity has been registered on this new portal.

Management is also pleased to report there has been a shift in responses to the company's website enquiries following the production and release of recent marketing videos and the company newsletter, all of which can be accessed through the company's website -www.foundationfarms2021.com. Requests for joint venture partnership opportunities are now coming in daily from across North America.

When asked to provide comments on these achievements and their impacts, Ed Kroeker, CEO stated, "I can best describe it as a ripple effect. Opening our first vertical farm in the Red Deer area was like throwing the stone into the water. The result has been a series of exciting and fast moving ripples moving outward in ever widening circles of business influence. I can't wait to see the effect of our Abbotsford farm which will have five times the production capability."

Yves R. Michel, CEO of GMEV added, "I share the excitement of seeing this company growing so quickly from its small beginnings to becoming a working giant in this business sector. It is following the natural vertical farming product growth pattern-from seedling to harvest in record time."

CONTACT:

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

Forward Looking Statements

Certain statements in this press release constitute forward-looking statements. These forward-looking statements are based on current expectations and assumptions that involve risks and uncertainties and on information available to the Company as of the date hereof. The Company's actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its latest Annual Report on OTCMarkets.com, its Regulation A+ Offering Statement, and other filings with the Securities and Exchange Commission, including the sections entitled 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' contained therein. Forward-looking statements include statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as 'plans,' 'anticipate,' 'believe,' 'could,' 'continue,' 'estimate,' 'expect,' 'intend,' 'may,' 'should,' 'will' and 'would' or similar words. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

SOURCE: GME Innotainment, Inc.

View source version on accesswire.com:
https://www.accesswire.com/665285/Foundation-Farms-Corp-Provides-Update-to-Shareholders

FAQ

What updates did Foundation Farms provide to shareholders on September 23, 2021?

Foundation Farms reported the successful launch of its vertical farm with rapid harvest growth and new product lines, alongside a strategic partnership and increased market interest.

How many crop varieties does Foundation Farms currently grow?

Foundation Farms has expanded its crop offerings from 6 to 23 different varieties since launching its vertical farm.

Who is the business partner for Foundation Farms' future vertical farms?

Life Leaf Gardens has partnered with Foundation Farms to purchase all end products from their future vertical farms.

What is the expected capital investment recovery time for Foundation Farms' standard farm?

A standard 450-tower farm is expected to yield complete capital investment recovery in less than two years.

How is Foundation Farms engaging with the market?

Foundation Farms has launched an online store and reported increased inquiries for joint ventures following marketing initiatives.