Braingrid Announces Completion of First White Paper on Energy Consumption in Cannabis Cultivation

Braingrid Announces Completion of First White Paper on Energy Consumption in Cannabis Cultivation

Flowering stage lighting consumes 50-65% of total facility electricity consumption of all three stages of growth

Toronto, Ontario – September 10, 2019 – Braingrid Limited (“Braingrid” or the “Company”) (CSE:BGRD), a global precision agriculture technology company delivering real time monitoring solutions with advanced analytics to cultivators that improve business profitability and consistency, is pleased to announce the first of four white papers to be issued under the NSERC (Natural Sciences and Engineering Research Council of Canada) research program.

The NSERC program involves a partnership with Braingrid and the Smart Grid Research Lab at York University to develop algorithms for tracking and optimizing energy use in commercial cannabis facilities.

The first white paper, written by Dr. Nafeesa Mehboob, Postdoctoral Fellow and Dr. Hany Farag, Associate Professor and Research Chair of York University, concludes “Indoor cannabis operations are highly energy intensive, with lighting and HVAC responsible for the majority of the energy demand. Therefore, it is crucial for indoor cannabis operations to find efficiencies in HVAC and lighting to maintain feasibility in this competitive market, as well as for long term sustainability of this industry as a whole.”

The following three white papers will address Energy Policies and Utility Incentives, Lighting Efficiency and HVAC Efficiency.

Braingrid’s resident Plant Data Scientist, Dr. Vanessa Nielsen  stated “The Smart Grid Research Lab will carry out a 6-month project in collaboration with Braingrid to develop:

1) a process that performs load disaggregation on real-time energy data to distinguish the contribution of individual energy categories.

2) a model that makes suggestions for reducing energy consumptions and determines energy savings if those changes are made.

Braingrid’s CEO Michael Kadonoff added “Growers who wish to remain competitive must actively consider their energy and resource use in their cost per gram. Braingrid’s key energy metrics and deep insights will give growers new tools to deliver consistent, high quality yields with more efficiency.” 

Media Contact:
Doug Harris
Chief Financial Officer
416-480-2488
ir@braingrid.io
www.braingrid.io

About Braingrid:
Braingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. The Company is listed on the CSE under the symbol BGRD.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

 

Braingrid’s CEO, Michael Kadonoff Selected as C-45 Association’s Technology Committee Leader

Braingrid’s CEO, Michael Kadonoff Selected as C-45 Association’s Technology Committee Leader

Toronto, Ontario – September 5, 2019 — Braingrid Limited (“Braingrid” or the “Company”) (CSE:BGRD), a global precision agriculture technology company delivering real time monitoring solutions with advanced analytics to cultivators that improve business profitability and consistency, wishes to announce that its founder and CEO, Michael Kadonoff has been named as the C-45 Quality Association’s Committee leader for Technology.

The C-45 Quality Association is a private sector pioneer and advocate for compliance and quality across Canadian cannabis operations. It is led, organized and curated by major QAPs (Quality Assurance Persons), Heads of Laboratories, and other quality practitioners from the 170+ licence holders and applicants across Canada. The C-45 Association offers an online community and a yearly summit to the growing list of license holders of QAPs, industry leaders and professionals so they can achieve clarity and consensus around new and existing regulations thus saving stress, time and costly missteps.

“Braingrid’s and specifically Michael’s involvement in our association is greatly valued.  Technology and compliance go hand in hand” said Chris Stone, C-45’s Interim chairperson and Broken Coast Cannabis’ Director of Quality.

“QAs have an extremely challenging set of responsibilities and not a lot of support from Health Canada or their peers” said Michael, CEO and Founder of Braingrid.  “I’m very proud to be the technology leader for the association because I can more directly support the folks who deliver safe, high quality product for Canada.”

Media Contact:
Doug Harris
Chief Financial Officer
416-480-2488
ir@braingrid.io
www.braingrid.io

About Braingrid:
Braingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. The Company is listed on the CSE under the symbol BGRD.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Braingrid Announces Partial Conversion of Debentures

Braingrid Announces Partial Conversion of Debentures

Toronto, Ontario – August 30, 2019 — Braingrid Limited (“Braingrid” or the “Company”) (CSE:BGRD), a global provider of cultivation analytics using its affordable, scalable and easy-to-deploy sensor platforms for precision agriculture, announced today that further to its press releases dated June 18, 2019, August 8, 2019 and August 22, 2019, European High Growth Opportunities Securitization Fund (the “Fund”), advised by Alpha Blue Ocean Inc., has converted $160,000 of its $530,000 remaining principal amount of senior unsecured convertible debentures into 2,000,000 common shares of the Company (each a “Share”) at an effective price of $0.08 per Share. 

Pursuant to the agreement between the Fund and the Company, executed June 11, 2019, Braingrid has a cumulative make whole obligation to the Fund of $447,200, payable either in shares or cash at the Company’s discretion, if cash the obligation would be netted against future debenture issuances.

Media Contact:
Doug Harris
Chief Financial Officer
416-480-2488
ir@braingrid.io
www.braingrid.io

About Braingrid:
Braingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. The Company is listed on the CSE under the symbol BGRD.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Braingrid Closes First Tranche of Financing from Alpha Blue Ocean

Braingrid Closes First Tranche of Financing from Alpha Blue Ocean

Toronto, Ontario – June 14, 2019 — Braingrid Limited (“Braingrid” or the “Company”) (CSE:BGRD), a global provider of cultivation analytics using its affordable, scalable and easy-to-deploy sensor platforms for precision agriculture, is pleased to announce that further to its press release dated June 11, 2019, it has closed on the first tranche of the senior unsecured convertible debentures contemplated in the subscription agreement (the “Agreement”) entered into with European High Growth Opportunities Securitization Fund, advised by Alpha Blue Ocean Inc., for the issuance of up to $5,100,000 aggregate principal amount of senior unsecured convertible debentures (the “Debentures”) and accompanying common share purchase warrants (the “Warrants”).

As part of the first tranche, a total of $850,000 aggregate principal amount of debentures and 14,875,000 Warrants with an exercise price of $0.080 per share have been issued. 12,750,000 of the Warrants have an expiry date of June 14, 2022 and 2,125,000 of the Warrants have an expiry date of June 14, 2024.  Each Warrant is exercisable into one Common Share (subject to typical adjustments).

The debentures bear no interest and the maturity date of the debentures is June 14, 2020. The debentures shall be convertible into Common Shares at a conversion price equal to the lower of: (i) one hundred percent (100%) of the lowest daily volume-weighted average price of the Common Shares on the Canadian Securities Exchange (the “VWAP”) over the period of fifteen (15) trading days immediately preceding the date of the relevant Conversion Notice (or, where no Conversion Notice is given, the Maturity Date, as may be accelerated), or (ii) one hundred twenty percent (120%) of the lowest daily VWAP observed over the five (5) trading days immediately preceding the date of issuance of the debentures, having regard for any adjustments made in accordance with the terms of the debentures provided that under no circumstances shall the conversion price be less than the minimum price permitted under applicable law or the rules of any exchange on which the Common Shares of the Company are listed for trading.

Additional debentures and accompanying Warrants may be issued in up to a further 17 separate tranches (each a “Tranche”). The Company shall issue debentures in the principal amount of $250,000 for each additional Tranche.

Further information regarding the financing can be found in the subscription agreement posted on SEDAR. Proceeds from the financing will be used for capital projects and general working capital purposes.

Media Contact:
Doug Harris
Chief Financial Officer
416-480-2488
ir@braingrid.io
www.braingrid.io

About Braingrid:
Braingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. The Company is listed on the CSE under the symbol BGRD.

FORWARD-LOOKING INFORMATION

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of Braingrid. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of Braingrid to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein.  Forward looking statements in this press release include statements regarding the potential draw down of the facility in one or more closings, the terms of the debentures and warrants that will be dependent on future trading prices and the use of the proceeds from the financing. Although Braingrid believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Braingrid assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

 

Braingrid secures C$5.1 million financing

Braingrid Secures Up to $5.1 Million Financing

 

Toronto, Ontario – June 11, 2019 — Braingrid Limited (“Braingrid” or the “Company”) (CSE:BGRD), a global provider of cultivation analytics using its affordable, scalable and easy-to-deploy sensor platforms for precision agriculture, is pleased to announce that it has entered into an agreement dated June 11, 2019 (the “Agreement”) to obtain funds to support its capital projects and general working capital. The Agreement is with European High Growth Opportunities Securitization Fund (the “Fund”), an investment fund advised by Alpha Blue Ocean Inc. (“Alpha Blue”) a money manager based in London, United Kingdom with a strong track record of partnering with public companies and delivering meaningful value to their shareholders.

Pursuant to the Agreement the Fund has agreed to subscribe for up to $5,100,000 aggregate principal amount of senior unsecured convertible debentures in up to 18 separate closings over a period of three years. The debentures will be issued along with a number of accompanying warrants to be determined based on the market price of the Company’s common shares (“Common Shares”) at the date of the applicable closing. The warrants will be exercisable for Common Shares at prices to be determined at each closing under the Agreement. To the extent that the exercise price of the warrants or the conversion price of the debentures is required to be increased from that set forth in the Agreement, the Company will make a payment to the Fund in cash or common shares in respect of any such debentures or warrants that are converted or exercised, as applicable. The first closing for $850,000 principal amount of debentures (the “First Closing”) is anticipated to close shortly and the additional closings, if completed, will take place over the coming months. Details of the conversion price and number of warrants issued pursuant to the First Closing will be disclosed in a subsequent press release. The subscription price for each debenture under the facilities is 90% of its face amount.

The debentures to be issued under each closing will be non-interest bearing, have a maturity date of twelve months from issuance and, subject to regulatory compliance, will be automatically converted into such number of common shares in the capital of the Company as is equal to the aggregate principal amount of the debentures being converted divided by the applicable conversion price (to be determined based on the market price of the Company’s common shares from time to time), immediately following the earlier of: (i) two trading days after the delivery by the holder of a conversion notice, or (ii) the applicable maturity date of the debentures. The debentures may also be reimbursed in cash prior to the maturity (i) upon certain events of default and (ii) subject to a 20% premium at the option of Braingrid, and, at maturity at the election of Braingrid.

The Company will pay Alpha Blue a commitment fee of $204,000, representing 4% of the full aggregate principal amount of the debentures on the first closing, and will reimburse Alpha Blue for its expenses in connection with the offering.

Pierre Vannineuse, CEO Alpha Blue, stated:

“We are excited to establish this partnership with Braingrid, an innovative technology company who has taken advantage of the fast growing cannabis industry. Alpha Blue is proud to provide the financial support to help Braingrid in its trajectory of becoming an important player in providing powerful technologies that will help cannabis growers operate more efficiently and effectively.”

Michael Kadonoff, CEO of Braingrid stated:

“This three year financing with Alpha Blue assures Braingrid will be able to execute on its growth strategy knowing the funds will be available when required. There are also numerous companies in all segments of the market which are available for integrations that will augment revenue growth.”

Further information regarding the financing can be found in the subscription agreement posted on SEDAR.

Media Contact:

Doug Harris Chief Financial Officer 416-480.2488 ir@braingrid.io www.braingrid.io

About Braingrid:

Braingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. The Company’s Common Shares are listed on the CSE under the symbol BGRD.

FORWARD-LOOKING INFORMATION

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of Braingrid. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of Braingrid to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Forward looking statements in this press release include statements regarding the potential draw down of the facility in one or more closings, the terms of the debentures and warrants that will be dependent on future trading prices and the use of the proceeds from the financing. Although Braingrid believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Braingrid assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Braingrid Announces Three New Sales Contracts

Gaining Traction: Cultivation Analytics That Provide Valuable Yield and Predictive Pathogen Information to Growers Seeking Consistency

 

Toronto, Ontario – May 28, 2019 — Braingrid Limited (CSE: BGRD) (“Braingrid” or the “Company”), a global provider of cultivation analytics that provides real-time environmental information for early detection giving growers the time to take action, announced sales contracts with three new clients, including Canna Farms and Up Cannabis.

 

On April 17, 2019, Braingrid launched its Data Intelligence Program for both growers of cannabis and other agricultural products to better understand the cultivation data Braingrid collects from their grow operations. The data can be used to alter and optimize grow conditions, providing improved consistency of product.

 

“These new contracts illustrate the growing traction that our Data Intelligence Program is generating. This momentum is a direct reflection of the value-add that our analytical services provide,” said Michael Kadonoff, CEO of Braingrid. “Developed by our in-house Data Science Team this program enables our clients to better control microclimates for optimal grow outcomes.”

 

Canna Farms of Hope, B.C a wholly owned subsidiary of VIVO Cannabis Inc. (TSX-V: VIVO, OTCQX: VVCIF), a premium quality licensed producer of medical dried flowers and oils, completed a large instrumentation order in its first of a three-phase one year Microclimate Analysis Project.

“Detecting microclimates is essential for us to optimize our growing conditions and maximize the quality and yield of our cannabis in order to continuously provide our clients with the premium products they expect” said Chris Tuckwell, Head of Security and IT at Canna Farms Ltd. “Implementing Braingrid’s proprietary technology will enable us to fine-tune our growing conditions and maximize our efficiency.”

UP Cannabis, a high quality licenced producer in Ontario’s Niagara Region also signed a one year agreement to begin the first of three Crop Analysis Projects. UP will receive monthly cultivation analytics reports and Professional Services for the next year.  Allison Slater, Greenhouse Systems Technician UP Cannabis stated: “I would like to again extend a huge thank you to your team for their consistent dedication and flexibility meeting our needs.”

 

In addition, Braingrid announced a third sale; a five year agreement that will see Braingrid provide its real-time sensing and analytical services platform to an Ontario Institute offering unique educational opportunities in partnership with several Ontario colleges and universities. The Institute has created a new greenhouse to support a Sustainable Foods degree program. The greenhouse will be able to support spring to fall growing conditions and will feature climate controls for experimental and production purposes.  This application demonstrates how Braingrid’s solutions are valuable beyond cannabis cultivation in traditional agriculture.

 

Braingrid continues to develop solutions to help growers make faster and better decisions and optimize their utilization of resources. Further insights are available on Braingrid’s blog: http://braingrid.io/blog/

 

Media Contact:

Doug Harris

Chief Financial Officer

Braingrid Limited

416-480-2488

ir@braingrid.io

www.braingrid.io

 

About Braingrid:

Braingrid Limited is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. The Company is listed on the CSE under the symbol BGRD.

FORWARD-LOOKING INFORMATION

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of Braingrid. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of Braingrid to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although Braingrid believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Braingrid assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Braingrid Completes Shares for Debt Issuance and Convertible Debenture Financing

Toronto, Ontario–(Newsfile Corp. – May 17, 2019) – Braingrid Limited (CSE: BGRD) (“Braingrid” or the “Company”), a global provider of cultivation analytics using its affordable, scalable and easy-to-deploy sensor platforms for precision agriculture, wishes to announce the completion of two transactions.

Pursuant to an Advisory Agreement with Michael Frank (the “Advisor”) dated as of the 1st day of January 2019, the Company issued 100,000 common shares in payment for his services from January 1, 2019 to April 30, 2019. The Advisor provided consulting and support services including the ongoing assessment of available methods of financing operations and undertakings of the Company; the introduction of appropriate businesses to the Company for acquisition and merger; and conversations and attendances with stock brokers and other third party investors to create awareness and investment in the Company. Compensation was fixed at $5,000 per month and payable in common shares in the capital of the Company at a deemed issue price of $0.20 per share. The agreement with the Advisor also provided for the payment of certain success fees in the event of the completion of certain transactions however as no transactions were completed, no success fee was earned or paid.

A second transaction with Bankwell Realty Inc. (the “Lender”) was completed by the Company today whereby the Company issued a $100,000 secured convertible debenture. The loan bears interest at a rate of 18% per annum, matures on August 16, 2019 and is secured by a general security agreement. The principal amount of the debenture, fees and interest thereon may be converted into units of the Company at a conversion price of $0.09 per unit. Each unit will be comprised of one common share and one common share purchase warrant of the Company. Each warrant will be exercisable into one common share of the Company at an exercise price of $0.09 per share at any time on or before the second anniversary of the issuance of the warrants. In connection with the completion of the financing the Company agreed to pay the Lender a commitment fee of $5,000 and issue 250,000 common share purchase warrants to the Lender, each exercisable at any time on or before May 17, 2024 into one common share of the Company at an exercise price of $0.09 per share. Braingrid may pre-pay the debenture at any time and is obligated to repay the debenture in the event that it receives long term funding.

The securities issued by the Company as set out in this press release are subject to a hold period of four months and one day.

Media Contact:

Braingrid
Doug Harris
Chief Financial Officer
416-480.2488
ir@braingrid.io
www.braingrid.io

About Braingrid:

Braingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. The Company is listed on the CSE under the symbol BGRD.

FORWARD-LOOKING INFORMATION

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of Braingrid. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of Braingrid to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although Braingrid believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Braingrid assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Braingrid Limited Provides Corporate Update

Toronto, Ontario–(Newsfile Corp. – April 30, 2019) –  Braingrid Limited (“Braingrid” or “Company”) (CSE: BGRD), a global technology provider of real-time cultivation analytics in Precision Agriculture using its affordable, scalable and easy-to-deploy sensor platforms, is pleased to provide this corporate update.

Product & Service Platform Transition

The Company announced on April 17, 2019 the launch of a new program initiative called Braingrid Data Intelligence (“BDI”). The BDI program provides regular analytical reports to customers on data collected from sensors provided by Braingrid and other third parties. Braingrid’s highly trained Data Science Team analyzes data that customers don’t have the time or in-house expertise to do, thereby providing recurring cost-efficient reports on valuable statistics. Currently there are six reports available dealing with Anomaly Analysis in Temperature, Humidity, CO2, Powdery Mildew and Spider Mite Scores, and Vapor Pressure Deficit Chart Analytics. More reports are currently in development. This transition from focusing primarily on sensors to offering customers valuable cultivation information they can act on, still relies on Braingrid’s real-time sensor platform providing enhanced visibility on yield variances and predictive pathogen outbreaks. It is anticipated that eventually these reports will be expanded to deal with other cost-driving challenges facing the agriculture sector such as energy consumption. In addition to analytic reports and sensor equipment, the Company is now offering access to its in-house Data Science Team on an hourly rate basis to allow customers a way to achieve deep learning on millions of data points. Current and new customer response to Braingrid’s new BDI program has been exceptional.

Investment Rescission

As disclosed in the Company’s listing statement, in October 2018, MGX Minerals Inc. (“MGX”) purchased 812,500 units (consisting of common shares and common share purchase warrants of Braingrid) of Braingrid Corporation (exchanged for 1,625,000 common shares of Braingrid Limited on completion of the transaction with Match Capital) for a total consideration of $650,000 with the consideration to be satisfied through the issuance of 1,000,000 common shares in the capital of MGX at a deemed issue price of $0.65. Although the Company delivered the certificates for the securities underlying the units to MGX, it did not receive the 1,000,000 common shares of MGX that were to be issued to pay for such securities despite repeated assurances that such certificates would be delivered. MGX has rescinded the transaction and the 1,625,000 common shares and common share purchase warrants have been returned for cancellation. As set forth in the Company’s listing statement the Company had intended to dispose of the shares of MGX on the market on an if and when needed basis and the rescission of the transaction has reduced the cash available for the Company to operate as planned. The Company is currently reviewing potential financing sources to address this short-fall in anticipated funds. Further details regarding any potential financing will be provided once known.

Staff Changes

The transition of product positioning to data analytics has caused a shift in the development needs for product software. As a result the Company has laid-off a certain number of employees to streamline its operations and focus on its new initiatives. The Company appreciates and thanks the employees who are no longer with the firm and wishes them the best in their future endeavors.

R2G

On May 16, 2018, the Company entered into a Strategic Alliance Agreement with R2G Global, LLC and Rent2Grow Canada Inc. (collectively “R2G”). R2G intended to deploy franchised grow facilities throughout North America allowing individuals to safely and cost-effectively grow their legal limit of four plants in a 4X4 foot smart pod. Braingrid’s role was to provide controls and monitoring for the pods. The agreement required purchases over a three year period, the first year set to occur prior to May 15, 2019 for 1500-3000 pods. R2G encountered partnership difficulties which in turn caused financial challenges culminating in the failure of the venture to raise its required funds. As a result, the Company will be terminating the agreement and Braingrid is considering its options for the recovery of damages. The loss of these sales over the three year period during which the agreement was to run will have a material impact on the Company’s projected revenues which may or may not be recovered with new sales initiatives, some of which are described in this Update. The technology developed for R2G remains with Braingrid as valuable hardware and software that can be redeployed in other products. The Company is also exploring funding opportunities with the Industrial Research Assistance Program (IRAP) leading to commercialization of a new/updated product.

Integration Partners

In addition to a long-standing relationship with Canada’s market leader Ample Organics, the Company has during the last two months announced new integration relationships with A&L LaboratoriesCannabis OneFiveScanitIsolocity and TRAK. These relationships are valuable to customers since all information is shown in one place. Equally important, Braingrid is able to analyze customer data generated from various third party systems to gain deeper learning to achieve better crop yields and avoid pathogen risks. Integration relationships also foster new business for Braingrid and its partners once new customers learn about these efficiencies. Braingrid expects to continue to build these relationships and plans to announce new integrations throughout North America.

New Business Partnership

Braingrid is in discussions with a US based seed-to-sale company (“USCO”) with customers in over 20 states and a dozen countries. The parties are negotiating a Letter of Intent to enter into a long term business partnership whereby USCO will use its extensive sales network to promote Braingrid’s products and services in the US to bolster their existing offerings. Braingrid currently has two US customers and considers the US to be the next large market for expansion of its global products and services.

Media Contact:

Doug Harris
Chief Financial Officer
Braingrid Limited
416-480-2488
ir@braingrid.io
www.braingrid.io

About Braingrid

Braingrid Limited (www.braingrid.io) is a global technology company committed to the best long term interests of growers in the Precision Agriculture industry. The company provides valuable cultivation analytics by capturing real-time environmental data using our technology platform. Braingrid is committed to increase grower’s revenues by improving yield and reducing grow risks such as pathogens. Braingrid also provides the cannabis industry with powerful technology solutions together with its integration partners in quality management, laboratory testing, pathogen detection and energy conservation.

FORWARD-LOOKING INFORMATION

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of Braingrid. Information and statements which are not purely historical fact are forward-looking statements. Such statements include statements regarding (i) the development of new reports under the BDI initiative, (ii) the planned development of the relationships with the Company’s integration partners, (iii) the review of additional sources of financing and (iv) the potential for recovery of damages relating to the R2G relationship. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of Braingrid to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although Braingrid believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Braingrid assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Braingrid Limited Launches Data Intelligence Program

 

Growers will receive low-cost reports to determine pathogen risks and variances in yield throughout all grow batches.

 

Toronto, Ontario – April 17, 2019 — Braingrid Limited (“Braingrid”) (CSE: BGRD), a global provider of affordable, scalable and easy-to-deploy sensor platforms for real-time data collection in Precision Agriculture, is pleased to announce that it has launched its new low-cost Data Analytics Program called Braingrid Data Intelligence. Reports generated under this program will provide growers with unprecedented conclusions on yield variances and leading indicators of pathogen risks before the actual outbreak occurs.

Braingrid Plant Data Scientist Dr. Vanessa Nielsen will lead the team responsible for producing all reports to cannabis customers. Dr. Nielsen commented “Our customers have always struggled with having sufficient time and expertise to analyze the mountain of data surrounding each batch. Now we will do the heavy lifting for them by digging into their grow details to discover hidden gems of information showing comparative batch-to-batch variations.”

As the “mobile field lab” supplier of real-time data, Braingrid becomes a valuable information partner providing new grow foresight.

Six reports are currently available to Braingrid customers: Anomaly Analysis for Temperature, Humidity, and CO2, Powdery Mildew and Spider Mite Scores, and Vapor Pressure Deficit Chart Analytics. More reports to be announced soon.

Braingrid’s recent agreement with integration partner A&L Canada Laboratories Inc. (”A&L”) will expand delivery of their tests such as Plant Tissue Reports to be part of Braingrid Data Intelligence. Nevin McDougall, President and Chief Commercial Officer of A&L said: “Braingrid’s new analytical reports take the science of growing to a whole new level which, when combined with our various tests to confirm pathogens or fertility issues, give the grower unprecedented depth of knowledge and foresight.” The grower can then address the issue at hand and use this data in the next grow cycle for an even higher level of success. Anyone can grow a crop however A & L Canada Laboratories agronomy knowledge & testing services assists growers to achieve a higher yielding quality crop based on their specific goals.

Derek Pedro, Chief Cannabis Officer at WeedMD commented “Braingrid has been a valuable partner to WeedMD for years. These new reports provide a quick synopsis of detailed information over a period of months and years that was never before available to us, making what we do here more effective. We really appreciate this new view of our facility operation.”

Early indications from new and existing Braingrid customers show overwhelming support for these new low-cost reports. The Braingrid Data Intelligence program will be showcased at the upcoming O’Cannabiz Conference & Expo in Toronto on April 25-27, 2019.

Media Contact:

Doug Harris

Chief Financial Officer

Braingrid Limited

416-480-2488

ir@braingrid.io

www.braingrid.io

 

About Braingrid:

Braingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow information by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. Braingrid is providing the cannabis industry with powerful technologies, now and into the future. The Company is listed on the CSE under the symbol BGRD.

 

FORWARD-LOOKING INFORMATION

 

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of Braingrid. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of Braingrid to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although Braingrid believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Braingrid assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

 

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Braingrid Limited Expands Customer Solutions Team

New Product Pricing and Service Offerings to be announced this week

Toronto, Ontario – April 16, 2019 — Braingrid Limited (“Braingrid”) (CSE:BGRD), a global provider of affordable, scalable and easy-to-deploy sensor platforms for real-time data collection in Precision Agriculture, is pleased to announce the following additions to its commercial team as of March 2019.

Mr. Marc Sidhom has joined Braingrid as Director of Sales and Marketing. Mr. Sidhom brings a strong background of international sales, marketing and operations leadership. A two-time entrepreneur, he has extensive experience in launching solutions into new and emerging markets as well as the development of professional services. Mr. Sidhom also has deep knowledge in managing sales pipelines and will be instrumental in defining Braingrid’s customer solutions.  As well, his background will help Braingrid focus on bringing advanced analytics services to the horticulture industry.

Ms. Mariam Bastawrous has joined Braingrid as Head of Sales. Ms. Bastawrous brings a biology background (York University) and significant experience in the lighting applications industry. She is working with Braingrid clients to deliver customized sensing and data analytics solutions to better understand their growing environment. Her background will help deliver comprehensive decision support solutions to customers.

Together, this new sales team is creating expanded offerings based upon the latest technology developed in-house by Braingrid’s software development team. Further announcements will be forthcoming in the next two weeks and will be showcased at the upcoming O’Cannabiz Conference & Expo in Toronto on April 25-27, 2019.

Braingrid continues to develop solutions to help growers make faster and better decisions and optimize their utilization of resources. Readers can view additional insights in the Braingrid blog: http://braingrid.io/blog/

Media Contact:

Braingrid- Doug Harris

Chief Financial Officer

416-480.2488

ir@braingrid.io

www.braingrid.io

About Braingrid

Braingrid Limited is a global technology company committed to the best long term interests of the Precision Agriculture industry. We provide valuable grow information by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. In particular, Braingrid is providing the cannabis industry with powerful technology solutions together with its integration partners in quality management, laboratory testing, pathogen detection and energy conservation. The Company is listed on the CSE under the symbol BGRD.

FORWARD-LOOKING INFORMATION

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of Braingrid. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of Braingrid to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although Braingrid believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, Braingrid assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.