One Earth Farms Corp. announces the acquisition of Beretta Farms Inc.
TORONTO, Feb. 19, 2013 /CNW/ - One Earth Farms Corp. ("One Earth Farms"), a
subsidiary of Sprott Resource Corp. ("SRC") (TSX: SCP) has today acquired
Toronto based Beretta Farms Inc. ("Beretta Farms"), a purveyor of hormone free
and antibiotic free natural and organic branded meat products in Ontario and
British Columbia, in consideration for cash and shares in One Earth Farms.
Beretta Farms was founded 20 years ago by Mike and Cynthia Beretta who,
together with Elvio DelZotto their partner for the last 10 years, have grown
the Beretta natural and organic product range into a market leading brand of
fresh beef, poultry, deli products and meal solutions in the greater Toronto
and Vancouver markets. Beretta Farms products are available to consumers
through selected national grocery chains, leading natural and organic
retailers, direct home delivery, and a specialty catering operation that
provides meals to professional athletes and corporate clients based around the
Beretta product line. In connection with the transaction, Mike Beretta will
join the executive committee of One Earth Farms as the Chief Operating Officer.
Commenting on the transaction, CEO for One Earth Farms, Larry Ruud said, "I am
pleased to welcome Beretta Farms to the One Earth Farms family. Mike and
Cynthia Beretta are market visionaries with a passion for farming and the
marketing of natural and organic meat products. The Beretta Farms supply chain
and consumer brands perfectly complement the One Earth Farms source of beef
from our more than 17,000 animal herd of top quality natural and organic
cattle. With Mike and Cynthia remaining actively involved in the day to day
operation of the business, this combination gives One Earth Farms an
integrated business model and broadens our reach from the farm to the end
consumer where there is increasing interest in naturally raised meats, food
traceability and best practices in animal care."
Mike Beretta added, "Cynthia and I are delighted that we can continue the
growth and evolution of our business through this partnership with One Earth
Farms. The fit between the Beretta brand, our customer base of prestigious
retailers and the organic and natural cattle supply of One Earth Farms make
this joint entity an ideal platform for growth. "
About One Earth Farms Corp.
One Earth Farms is a Canadian based agri-food and consumer products business
dedicated to delivering farm to fork protein products from its cattle and crop
businesses for consumers who are interested in their health and wellbeing.
One Earth Farms operates a series of cattle and grain/oil-seed farms across
the prairie provinces of Canada to support the One Earth Farms' goal of
ensuring absolute food traceability from the farm to the consumer's fork.
One Earth Farms offers natural and organic products in fresh meat proteins,
meal solutions, snack and specialty prepared meals directed towards high
performance athletes. The One Earth Farms products are sold under the brand
names 'Beretta', 'Last Rep' and 'Protein Puck' through home delivery, fitness
establishments, key national chain stores and select regional chains and
independent retailers predominantly in the Ontario/GTA and Vancouver regions.
About Sprott Resource Corp.
SRC is a Canadian-based company, the primary purpose of which is to invest and
operate in natural resources. Through acquisitions, joint ventures and other
investments, SRC seeks to provide its shareholders with exposure to the
natural resource sector for the purposes of capital appreciation and real
wealth preservation. SRC is well positioned to draw upon the considerable
experience and expertise of both its Board of Directors and Sprott Consulting
LP (SCLP), of which Sprott Inc. is the sole limited partner. Pursuant to a
management services agreement between SCLP and SRC, SCLP provides day-to-day
business management for SRC as well as other management and administrative
services. SRC invests and operates through Sprott Resource Partnership (SRP),
a partnership between SRC and Sprott Resource Consulting Limited Partnership,
an affiliate of SCLP which is the managing partner of SRP.
Forward-looking Information and Statements
This news release contains certain forward-looking information and statements
within the meaning of applicable securities laws. The use of any of the words
"expect", "anticipate", "continue", "estimate", "may", "will", "project",
"remain", "should", "believe", "plans", "intends" and similar expressions are
intended to identify forward-looking information or statements. In particular,
but without limiting the forgoing, this news release contains forward-looking
information and statements pertaining to: (i) the future growth and evolution
of Beretta Farms; (ii) the ability of One Earth Farms to capitalize on
increasing consumer interest in naturally raised meats, food traceability and
best practices in animal care; (iii) the continued active involvement of Mike
and Cynthia Beretta with Beretta Farms; and (iv) Mike Beretta joining the
executive committee of One Earth Farms as the Chief Operating Officer.
Forward-looking information or statements are based on a number of
expectations or assumptions which have been used to develop such information
and statements but which may prove to be incorrect. Although One Earth Farms
believes the expectations and assumptions reflected in such forward-looking
information and statements are reasonable, undue reliance should not be placed
on forward-looking information and statements because One Earth Farms can give
no assurance that such expectations and assumptions will prove to be
correct. The forward-looking information and statements included in this
news release are not guarantees of future performance and should not be unduly
relied upon. Such information and statements, including the assumptions made
in respect thereof, involve known and unknown risks, uncertainties and other
factors, which may cause actual results or events to differ materially from
those anticipated in such forward-looking information or statements,
including, but not limited to: (i) uneconomic conditions, operational issues
or a change in plans by One Earth Farms or Beretta Farms; (ii) changes to
market demands; (iii) changes to the Beretta Farms supply chain and consumer
brands; (iv) changes to One Earth Farms cattle supply. Should one or more of
these risks or uncertainties materialize, or should assumptions underlying the
forward-looking information and statements prove incorrect, actual results,
performance or achievements could vary materially from those expressed or
implied by the forward-looking information and statements contained in this
The forward-looking information and statements contained in this news release
speak only as of the date of this news release, and One Earth Farms does not
assume any obligation to publicly update or revise any of the included
forward-looking statements or information, whether as a result of new
information, future events or otherwise, except as may be expressly required
by applicable securities laws.
Larry Ruud CEO One Earth Farms #325 2555 Grasswood Road east Saskatoon
Saskatchewan S7T 0K1 Tel: 1 877 884 2061 Ext 701
Mike Beretta Beretta Family Farms Etobicoke, ON, Canada M9W 4Y8 Tel: (416)
674-5609 Fax: (416) 674-0710 Email:firstname.lastname@example.org
Stephen Yuzpe Chief Financial Officer Sprott Resource Corp. 200 Bay Street,
Suite 2750 Toronto, Ontario M5J 2J2 Tel: (416) 977-7333 Fax: (416) 977-9555
SOURCE: ONE EARTH FARMS
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-0- Feb/19/2013 13:00 GMT
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