04:34:48 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Affinor Growers Inc
Symbol AFI
Shares Issued 64,875,878
Close 2014-12-18 C$ 0.25
Market Cap C$ 16,218,970
Recent Sedar Documents

Affinor closes agreement for agricultural JV

2014-12-18 11:04 ET - News Release

Mr. Sebastien Plouffe reports

AFFINOR GROWERS CLOSES EXCLUSIVE SUBLICENSE AGREEMENT WITH NATIVE AMERICAN COMMUNITIES IN THE U.S.

Affinor Growers Inc. has closed the definitive agreement of the previously announced letter of intent (LOI) on Nov. 4, 2014, with North Country Natural Solutions LLC and Iroquois Consulting Group LLC in New York state. It represents a $500,000 sublicensing agreement and 5-per-cent royalty on the net sales on the food production. Additionally North Country and Iroquois will offer consulting services to represent exclusively Affinor with all the native communities in the United States in the agriculture and cannabis sectors with the objective to become leader and a model in both industries.

Native American tribes across the U.S. learned on Thursday, Dec. 11, that the United States Department of Justice will allow tribes to grow and sell marijuana on their lands if they follow the federal guidelines established for states that have legalized the drug.

Affinor is sublicencing vertical farming technology to North Country and Iroquois to have them grow, produce, distribute, sell, market and commercialise the products related to agriculture in New York states. In the meantime, North Country and Iroquois will represent Affinor with all the native American tribes across the United States to developp affiliations and sustainability to produce healthy food using vertical growing technology and high-quality cannabis using different technics.

Kelly Mitchell commented: "Iroquois and North Country Natural Solutions are thrilled to be afforded the opportunity to work with Affinor to bring its farming technology and expertise in the agriculture and medical marijuana industry to first nation communities. We foresee this agreement with Affinor and ICG and NCNS playing a substantial role in providing long overdue economic development to native communities throughout North America."

Nick Brusatore, Affinor chairman, commented: "This is a very proud moment for myself and Affinor and a very exciting time for the first nation people in the U.S. Affinor's vision has always been to help and assist the first nation to mass produce food for their people to help with the diabetes and to consult and design what is needed to get them ready for the tobacco industry with the marijuana looming federally now. We look forward to assisting the first nation communities and enabling Affinor to advise them as to how to utilize our safe, high-quality agricultural and vertical farming technologies to stand up state-of-the-art production facilities. Myself having a wife and four daughters being status natives in Canada and members of the Squamish Nation in Vancouver has driven me personally to want this for all first nation people and I am committed to them to make this happen."

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