VANCOUVER, BC, Dec. 18, 2023 (GLOBE NEWSWIRE) -- NextGen Food Robotics Corp. (the "Company" or "NextGen") (NEO: NGRB; OTC Pink: NGRBF; Frankfurt: O83) is pleased to announce that it has acquired an established, 10,000 sq. ft. commissary facility located in central Vancouver pursuant to an asset purchase agreement (the "Agreement").
Pursuant to the terms of the Agreement, the Company has assumed the lease and acquired all of the facility's equipment - including an expansive array of high-end equipment and cold storage - allowing the Company to take over the facility on a turn-key basis and to commence operations immediately following closing. The Company paid a cash purchase price of $550,000.
Paul Rivas, CEO of NextGen, commented, "We are excited with the continued expansion of our commissary division. Our new facility will provide startups, entrepreneurs, ghost kitchens and small food manufacturers with an opportunity to build their brands".
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
info@nextgenai.ca
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 ability of the Company to commence operations immediately following closing. 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.
