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or Name

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Affinor Growers Inc
Symbol AFI
Shares Issued 90,211,578
Close 2018-08-10 C$ 0.12
Market Cap C$ 10,825,389
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Affinor to provide farming tech to VDA Vertical Designs

2018-08-10 11:20 ET - News Release

Mr. Nicholas Brusatore reports


On Aug. 9, 2018, the government of Aruba held a press conference to announce that it has approved VDA Vertical Designs Aruba VBA to build a vertical farming project in Aruba using Affinor Growers Inc.'s vertical farming technology. The technology will allow VDA Vertical Designs Aruba VBA to produce crops year-round in Aruba's tropical climate, while utilizing land that, previously, could not be utilized for farming.

The company had previously announced on Feb. 21, 2018, that it had signed an exclusive licence agreement with Vertical Designs Aruba Inc. Due to some legal obstacles during the incorporation process, VDA Vertical Designs Aruba was incorporated in place of Vertical Designs Aruba. The company and VDA Vertical Designs Aruba are in the process of finalizing a new amended licensing agreement. The licensing agreement is expected to be completed early next week.

Nick Brusatore, chief executive officer of Affinor Growers, commented: "This is absolutely thrilling news for the company, VDA Vertical Designs Aruba VBA and the country of Aruba. Not only will this project have a substantial and lasting economic impact on Aruba, but this will be the first step in revolutionizing the farming industry in the Caribbean. This is the perfect showcase for our vertical farming technology and we hope this will act as a catalyst for other vertical farming projects around the world."

About Affinor Growers Inc.

Affinor Growers is a publicly traded company on the Canadian Securities Exchange under the symbol AFI. Affinor Growers is focused on growing high-quality crops such as romaine lettuce, spinach, strawberries and cannabis using its vertical farming techniques. Affinor Growers is committed to becoming a pre-eminent supplier and grower, using exclusive vertical farming techniques.

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