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Affinor Growers Inc
Symbol AFI
Shares Issued 90,211,578
Close 2018-02-21 C$ 0.19
Recent Sedar Documents

Affinor Growers signs licence deal with Vertical Designs

2018-02-21 11:39 ET - News Release

Mr. Nicholas Brusatore reports

AFFINOR GROWERS SIGNS LICENSE AGREEMENT FOR MARIJUANA AND FOOD PRODUCTION FOR THE CARIBBEAN

Affinor Growers Inc. has signed an exclusive licence agreement with Vertical Designs Aruba Inc. (VDA) to produce marijuana and food using the Affinor Growers patented rotating vertical towers.

In return for granting the licence, Affinor Growers will receive 10-per-cent ownership in VDA and VDA will order all towers from Affinor for its farm to be based in Aruba. The licence granted to VDA will cover the region of the Caribbean, and, as VDA expands into other countries in the Caribbean and incorporates new subsidiaries, it may sublicense Affinor's technology and Affinor will receive a 10-per-cent stake in all other sublicences or subsidiaries throughout the Caribbean.

Marijuana is not currently legal in Aruba; however, in the event laws change, the company will be ready to service the marijuana market. One of the key advantages to growing plants using the tower technology in Aruba is the favourable growing climate.

Nicholas Brusatore, chief executive officer of Affinor Growers, commented, "I am very excited about the new agriculture market we are about to access in the Caribbean, this will bring Affinor's technology, additional jobs and training for Aruba."

About Affinor Growers Inc.

Affinor Growers is focused on growing high-quality crops (such as romaine lettuce, spinach and strawberries) using its vertical farming techniques. Affinor is committed to becoming a pre-eminent supplier and grower using exclusive vertical farming techniques.

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