Mr. Nick Brusatore reports
AFFINOR GROWERS ANNOUNCES FURTHER REVISED
TERMS OF UNIT FINANCING
Further to the news release on Jan. 9, 2024,
and Jan. 16, 2024, Affinor Growers Inc. has revised the terms of its previously announced non-brokered
private placement. The company will be conducting a non-brokered private placement of up to
12.5 million units of the company at a price of eight cents per unit for gross proceeds of up to
$1-million. A significant portion of the offering, approximately $620,000, is anticipated
to be the distribution of units in settlement of existing debt. Each unit will consist of one common share
in the capital of the company and one share purchase warrant. Each warrant
will entitle the holder thereof to acquire one additional share at a price of 10 cents per
warrant share for a period of 24 months from the date of distribution.
The company intends to use the net proceeds from the offering for the production and development of
strawberries. Closing of the offering is expected to occur as soon as practicable, and may occur in one or
more tranches.
The company may pay a finder's fee in connection with the offering to eligible arm's-length finders in
accordance with the policies of the Canadian Securities Exchange. All securities issued in connection with
the offering will be subject to a statutory hold period of four months and one day following the date of
issuance in accordance with applicable Canadian securities laws.
About Affinor Growers Inc.
Affinor is a publicly traded company listed on the Canadian Securities Exchange under the symbol AFI and on the OTCQB under
the symbol RSSFF. Affinor is focused on developing vertical farming technologies and using those
technologies to grow fruits and vegetables in a sustainable manner.
We seek Safe Harbor.
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