Urban Barns Foods Inc.
OTC Bulletin Board : URBF

Urban Barns Foods Inc.

June 21, 2010 18:51 ET

Urban Barns Foods Directors Meet With Target Clients and Government Officials

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2010) - Urban Barns Foods Inc. (OTCBB:URBF) ("Company" or "Urban Barns") announced today its financial results for the third quarter ending 30 April, 2010.

In addition, the Company has made the following announcement on progress to date.

Mr. Dan Meikleham, Urban Barns Chairman and Chief Financial Officer, commented, "Undeterred by the disappointment of not receiving the initial startup financing we expected in December, 2009, we are very pleased with the progress made in our first full quarter reporting period since the reverse takeover on December 4, 2009, both with the $5 million financing commitment and the negotiations for startup buildings and business relationships with identified target customers."

As previously announced at the start of this quarter, our initial series of meetings in Puerto Rico have been followed up by two additional visits in June 2010 with meetings between our Board of Directors and officials of the Economic Development Corporation of Puerto Rico (PRIDCO).

In addition the Board met with a number of produce growers and distributers.

Mr. Cesar A. Montilla, Jr., Urban Barns Director of Marketing, added, "Based on the discussions with our identified Puerto Rico partners, it is now our aim to commence operations in Puerto Rico immediately following receipt of previously announced funding and further intend to finish this calendar year with multiple growing locations throughout Puerto Rico and growing a number of different crops to satisfy unfulfilled current demand."

Mr. Jacob (Jack) Benne, Urban Barns Chief Executive Officer stated, "Although the Company is still in the development stage we enter the end of our fiscal year July 31, 2010, with the most positive momentum in the Company's recent history and we see significant interest among major customers as well as many new potential partners in the sector." Benne commented, "Additionally, we see the possibility of excellent opportunities for collaboration and strategic initiatives as we head to the conclusion of the fiscal year 2010."

About Urban Barns:

Urban Barns 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 can focus on supplying any community, irrespective of the regional climate, effectively reducing shipping times and related spoilage costs. Urban Barns 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, and Completely Healthy".

Urban Barns and Urbanbarnsfoods.com are registered trademarks and the copyright of Urban Barns. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies.

Forward-Looking Statements:

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 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 and suppliers. Urban Barns does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

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