IONE - 06/09/2016 (PRESS RELEASE JET)
Purebase Corporation (OTCBBQB: PUBC), a company focused on delivering high quality organic mineral products for the agricultural sector, is pleased to announce the formation of Purebase Networks, an AgTech startup that will focus on combining Internet of Things (“IoT”) agricultural sensors, wireless networking, and cloud technologies to deliver the industry’s first vertically integrated agricultural supply chain. Purebase Networks will accomplish this by blending its own proprietary technology with products from leading agricultural and mining companies to revolutionize how farmers manage farming operations and improve crop yields.
The Internet of Things Opportunity in Agriculture
The Internet of Things (IoT), which connects cars, homes, wearables, and everyday objects to the cloud, is disrupting industries across the globe. According to networking giant Cisco Systems, the number of connected objects worldwide will grow to over 50 billion devices by 2020 (1). These devices will include tractors, railcars, heavy equipment, and crop sensors for agriculture. Accenture estimates that the global market for precision agriculture and IoT is expected to reach more than $4.5 billion by 2020(2). General Electric (“GE”) has stated that it is focused on building the “Industrial Internet” of the future which refers to the connections of industrial machinery and equipment to the Internet. GE estimates that the Industrial Internet will add $10 to $15 trillion to global GDP over the next 20 years. GE has stated publicly to its shareholders that its goal is to become a Top 10 software company by 2020.(3) Purebase will look to partner with leading vendors across the agricultural supply chain to deliver solutions that improve business outcomes for its customers.
Purebase Adds Steve Ridder of Cisco Systems to the Innovation Center’s as a Strategic Advisor
In order to accelerate the rapid development and deployment of leading technology solutions for the Agricultural sector. Purebase is pleased to announce that Steve Ridder, Practice Advisor, Business Transformation Group of Cisco Systems, will join Purebase’s new Innovation Center as a Strategic Advisor. Steve brings a wealth of technology and business experience to Purebase, having developed mission-critical technology solutions to many of the largest companies in the world across Financial Services, Technology, Retail, and Manufacturing while at Cisco. Steve said the following: “I am excited to help Purebase and its customers innovate collaboratively with leading technology companies like Cisco and others to build solutions that will enable farmers to better predict weather, utilize precious resources like water more effectively, and deliver optimal crop yields and profits for customers. I am a big believer that the Internet of Things, “Big Data”, sensors, drones, cloud software and other emerging AgTech technologies will impact crop yields and improve business outcomes for the farming community and the Innovation Center will be the perfect place to learn with our customers what works, what doesn’t, and how to apply these technologies with Purebase products to achieve the best results.”
Purebase will also invite universities and government entities to become a part of the AgTech Innovation Center in order to work collaboratively and foster AgTech and precision farming innovations. Scott Dockter, Purebase Chairman and Chief Executive Officer, said, “We are excited about the potential of the Innovation Center and its ability to add tremendous value for our customers and partners. With increasing utilization of technology in the agricultural supply chain, we believe our customers, technology and university partners will benefit by working with us in the Innovation Center to understand how to maximize productivity and increase business results.”
(1) Cisco Systems Visual Networking Index (February 2016)
(2) Accenture Digital Agriculture: Improving Profitability (2015)
(3) General Electric Annual Shareholder’s Report (February 2016)
About Purebase (OTCBBQB: PUBC)
Purebase is a diversified, natural and industrial mineral resource company providing solutions to the agriculture industry, Purebase acquires, develops, and commercializes industrial and natural mineral deposits to service the agriculture industry, both domestically and internationally. Purebase provides soil amendments that will be used within the agriculture industry. For additional information, please visit www.purebase.com.
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Purebase Corporation and members of its management team as well as the assumptions on which such statements are based. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that may cause actual results to differ from those anticipated are discussed throughout the Company’s Form 10-K filed March 14, 2016 and 10-Q filed April 19, 2016, as well as other reports filed with Securities and Exchange Commission which are available at http://www.sec.gov/ as well as the Company’s web site at http://www.purebase.com/. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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