Mr. Nick Brusatore
reports
AFFINOR GROWERS ANNOUNCES DEBT SETTLEMENT
Affinor Growers Inc. has entered into debt settlement agreements with three
creditors of the company to settle an aggregate of $365,757.79 in debt. In
settlement of the debt, the company will issue 6,095,963 common shares in the capital of the company
to the creditor at a deemed price of six cents per settlement share. The settlement
shares will be subject to a hold period of four months and one day in accordance with applicable securities
laws.
The creditors include Nick Brusatore, an officer and director of the company, and 182564 Ontario Inc.
(182 Ontario), which is controlled by Ben Hogervorst, a director of the company. Mr. Brusatore will be
issued 3,129,296 settlement shares and 182 Ontario will be issued 2,666,667 settlement shares. The
issuance of settlement shares to Mr. Brusatore and 182 Ontario constitute related party
transactions as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in
Special Transactions. The company is relying on the exemption from valuation requirement
and minority approval pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the
securities do not represent more than 25 per cent of the company's market capitalization, as determined in
accordance with MI 61-101.
About Affinor Growers Inc.
Affinor is a publicly traded company listed on the Canadian Securities Exchange under the symbol AFI and on the OTC Pink
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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