Urban Barns To Expand Quebec Ops; Announces $6 Mln Private Placement Offering

(RTTNews) - Urban Barns Foods Inc. (URBF.OB) said it plans to expand its Québec operations in order to meet increased customer demand as well as the March 2015 launch of its previously-disclosed initiative with Sobeys Québec.

Urban Barns anticipates that the proposed expansion of its Mirabel, Québec facility will increase the annual production capacity of the location by 300 percent. The facility is currently capable of producing varieties of lettuce, fine herbs and microgreens.

In connection with the proposed expansion, the company is seeking to complete a $6 million private placement to accredited and strategic investors.