Sprott Resource Corp. Announces Launch of One Earth Farms Corp.

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[{"type":"text","content":"\n\n\n\nTORONTO, March 4 /CNW/ - (TSX: SCP) - Sprott Resource Corp. ("SRC")\nannounced today that it has launched One Earth Farms Corp. ("One Earth\nFarms"), a large scale, fully-integrated corporate farming entity, which\nintends to have operations on world class First Nations' farmland in the\nPrairie Provinces. SRC will invest $27.5 million in One Earth Farms to\nestablish operations, fund working capital and support its initial growth.\n\n\n"We believe that the opportunities associated with this new venture are\nunprecedented in the agricultural industry," said Kevin Bambrough, President\nand CEO of SRC. "We intend to build a long-term profitable agricultural\nbusiness in partnership with the First Nations, which will improve the\nmanagement and environmental sustainability of First Nations' farmland as well\nas benefit their peoples through increased revenue and job opportunities. We\nhave assembled an exceptional team at One Earth Farms, which we believe\nprovides the industry experience and operational skill necessary to build One\nEarth Farms."\n\n\nAbout One Earth Farms\n\n\nManagement has designed a program to begin farming operations in a hub\nand spoke system designed to plant crops and ranch lands in annual increments,\nbeginning with an initial minimum target of 50,000 acres in the first year of\noperations. One Earth Farms' professional management team, its strong\ncapitalization and its access to large tracts of world class First Nations'\nfarmland, positions One Earth Farms to become the largest, most efficient,\noperating farm in Canada.\n\n\nManagement believes that the timing for this venture is opportune. Global\ntrends continue to impact food supplies, as arable land continues to decline,\nfresh water remains in short supply and various regions of the world are\nexperiencing severe, recurring droughts. In addition, the global credit crisis\nhas impacted the financing available to farmers and will negatively impact\ncrop production in the short term. These factors, combined with a global\npopulation that continues to rise, are creating food security issues and in\nturn fueling substantial farming investment demand globally.\n\n\nOne Earth Farms intends to initiate job training programs for First\nNations persons, which will help train the next generation of farmers, pr...

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