VANCOUVER, Jan. 14 /PRNewswire-FirstCall/ - Urban Barns Foods (URBF.OB), today announced the appointment of Mr. César A. Montilla, Jr. to its Board of Directors as well as its Director of Business Development and Government Relations Officer. Mr. Montilla has an extensive and distinguished career in corporate finance and is a high-ranking individual in Puerto Rico, which is one of Urban Barns' target markets.
Mr. Montilla studied at Cornell University, the University of Florida and the New York Institute of Finance. He has served as Managing Director of Eurobank, Kidder Peabody, and Merrill Lynch. Mr. Montilla was also President and Principal of Clark Melvin Securities, formerly the largest local firm of stock brokers in Puerto Rico.
"Mr. Montilla is a perfect fit for our team. His knowledge of, and extensive experience in, one of our target markets is essential for our assertive expansion strategy," said Dan Meikleham, Chairman. "His skill set is an asset to Urban Barns, and additionally, Mr. Montilla's status enables him to act as liaison between Urban Barns and high-ranking government officials and senior executives in our target markets. Ultimately, he will make sure that we expand quickly, smoothly and intelligently."
In response to his appointment, Mr. Montilla commented, "This is a wonderful opportunity for me to join the Urban Barns team as well as for Puerto Rico. After obtaining initial expressions of interest to provide Puerto Rico's largest chains with locally grown iceberg lettuce and preliminary meetings with the Secretary of Agriculture, Puerto Rico, and the CFO of the Economic Development Corporation (PRIDCO) who have indicated motivation to attract Urban Barns Foods to set up business to supply locally grown vegetables in Puerto Rico. We're confident that in 2010 we'll change the way people in urban environments obtain their fruit and vegetables."
About Urban Barns Foods Inc.:
Urban Barns Foods uses proprietary equipment to produce affordable fruits and vegetables in a secure and controlled indoor environment. By setting up subsidiary facilities and growing locally, Urban Barns Foods can focus on supplying any community, irrespective of the regional climate, effectively reducing shipping times and related spoilage costs. Urban Barns Foods has the unique ability to scale and cater to the demands of all major communities. Our commitment to our consumers is reflected through our motto, "Purely Fresh, Naturally Tasty, Completely Healthy."
Urban Barns Foods and Urbanbarnsfoods.com are registered trademarks and the copyright of Urban Barns Foods Inc. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies.
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Urban Barns or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results, including revenue and customer projections, could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Urban Barns' products, the competitive environment within the industry, the ability of Urban Barns to continue to expand its operations, the level of costs incurred in connection with Urban Barns' expansion efforts, economic conditions in the industry and the financial strength of Urban Barns' customers. Urban Barns does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Urban Barns Foods Inc.