Purebase Announces Formation of Purebase Networks, a new AgTech Startup

  IONE, CA - 06/14/2016 (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.

Purebase Networks will partner with Purebase Corporation to deliver proprietary, organic soil amendments for farmers that will maximize crop yields for a wide range of soil conditions and crops.  Purebase Networks will also provide farmers with access to Purebase Networks’ proprietary “Big Data” analytics to deliver more visibility into crop and soil performance. Included is a digital dashboard to provide farmers with advice on how to increase crop yields. 

Purebase is pleased to announce that Purebase Networks will be led by John Wharton, who will assume the position of President.  John has spent his entire career in the tech sector and brings a wealth of experience leading IT and finance related projects on a global scale. Prior to joining Purebase Networks, John was with Cisco Systems, Barclay’s Capital and EXO U, Inc. as Vice President Corporate Business Development. He has considerable experience working with Fortune 50 clients as well as start-ups.   

Purebase Networks Adds Steve Ridder of Cisco Systems to Board of Directors

Purebase Networks is pleased to announce that Steve Ridder, Practice Advisor, Business Transformation Group of Cisco Systems, has been appointed to the Board of Directors.  Steve brings a wealth of technology and business experience to Purebase Networks, 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 Networks 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 to achieve the best results.”

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.

Scott Dockter, Purebase’s Chairman and Chief Executive Officer, said, “With the formation of Purebase Networks and our new relationship we believe together we will bring new products and technologies to the agricultural market that will add tremendous value for our customers.  Leveraging the latest precision farming techniques and AgTech innovations, and combining those with our current Purebase Advantage product offerings, we believe this will be a natural fit for Purebase and highly complementary to our existing business.”

Sources:

(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 (OTCQB: 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. Within the agriculture industry Purebase provides soil amendments that will be used within the agriculture industry. For additional information, please visit www.purebase.com.

Safe Harbor
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.