Urban barns of Vancouver makes acquisition

Urban Barns of Vancouver acquires fruit and vegetables grower for 25 million shares

VANCOUVER, B.C. — Urban Barns Foods (OB:URBF), a Vancouver based vegetable supplier, says it has acquired a private company owned by Urban Barns' founders, a company that grows fruit and vegetables in urban environments.

Under the deal, announced Thursday, the public company issued 25 million shares to the original shareholders of Urban Barns.

"Now that all of these administrative issues are behind us, we can start moving Urban Barns forward at a rapid pace," said Jack Benne, president and CEO of Urban Barns.

"We're confident that in the next few months we'll provide our shareholders with many exciting developments as our company expands and changes the way people in urban environments get their fruit and vegetables."

Urban Barns Foods uses specialized equipment to produce fruits and vegetables in controlled indoor environments.