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Enter Symbol
or Name
USA
CA



Affinor Growers Inc
Symbol AFI
Shares Issued 67,575,878
Close 2015-09-11 C$ 0.06
Market Cap C$ 4,054,553
Recent Sedar Documents

Affinor Growers' Brusatore resigns as chairman

2015-09-14 13:18 ET - News Release

Mr. Sebastien Plouffe reports

AFFINOR GROWERS ANNOUNCES RESIGNATION OF MR. NICK BRUSATORE AS EXECUTIVE CHAIRMAN, NOMINATION OF BRIAN WHITLOCK TO THE BOARD AND PALISADE CAPITAL AS FINANCIAL CONSULTANT

Nick Brusatore has resigned as the executive chairman of Affinor Growers Inc., effective immediately.

Mr. Brusatore will continue to be a board member and will now dedicate his time as Affinor's vice-president of technology. The corporation is presently in discussions and evaluating key candidates for the position of chairman.

Sebastien Plouffe, Affinor's president and chief executive officer, commented: "Nick was instrumental for the growth of the company, and, at the present time, I believe his new position as vice-president [of] technology will be more helpful to achieve our business model. As the largest shareholder, we have no doubt that Nick will continue to do his best to bring the company to the success."

Mr. Brusatore commented, "I am excited about this change as I see my stepping down is a huge step forward for Affinor Growers; I am a mechanical designer and a grower of plants using sciences and have now completed our designs to help the world with automated food production vertical farming systems, and now I look forward to launching it to the world."

The corporation also announces the nomination of Brian Whitlock as a new board member. Mr. Whitlock was already a shareholder of Affinor, and he invested a significant amount in the recent private placement. Mr. Whitlock ran his own residential and commercial construction and development company for 18 years. Since 1999, he has been a transportation co-ordinator in the Vancouver film and television industry. He also owns and manages his own fleet of film production vehicles. His detailed co-ordination of complex situations and superior management skills has proven him to be a leader in his field. He will definitely be helpful in Affinor's logistic and with his experience in the industry, his advice shall be highly listened. Under the terms, Mr. Whitlock will receive 500,000 incentive stock options to purchase common shares. The options are exercisable on or before Sept. 14, 2018, at an exercise price of 10 cents per share.

Finally, the corporation is pleased to announce that Palisade Capital Corp. has been retained as the independent consultant to provide investor relations and marketing services, setting up marketing teleconferences and road shows for the European, Canadian and U.S. investment community, and assisting in the distribution of news releases. Collin Kettell and Sean Zubick, the principals of Palisade, will be primarily responsible for providing the marketing services to Affinor.

Palisade is an offshore merchant banking group specializing in high-growth, small-cap investments. Through its global network of private equity groups, fund managers, and high-net-worth and retail investors, Palisade is able to create strategic relationships to drive increased liquidity and source financing.

Sean Zubick, chief operating officer of Palisade, commented: "We are very excited to work alongside the entire team at Affinor Growers to make 2015 and 2016 a major success. Vertical farming has the potential to represent a major component of future food supply, and Affinor has developed the technology to bring it to fruition."

Effective Sept. 15, 2015, the services agreement for investor relations and market making is for a term of 12 months, with a fee of $8,400 per month. Palisade has been granted 300,000 options exercisable at 10 cents for a period of three years. Palisade subscribed for three million units for a total amount of $150,000 in Affinor's financing completed last Friday.

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