Affinor Growers Announces DTC Approval
August 20, 2014 (Source: Marketwired) — Affinor Growers (“Affinor” or the “Corporation) announced that the common shares of the Company (CSE:AFI)(FRANKFURT:1AF)(OTCQB:RSSFF) have been made eligible for book-entry delivery and depository services of The Depository Trust Company (the “DTC”) to facilitate electronic settlement of transfers of its common shares in the United States.
DTC Eligibility means that a public company’s securities can be deposited through DTC. DTC is the largest securities depository in the world and holds over thirty-five trillion dollars worth of securities on deposit.
“The ability to have AFI shares traded electronically in the US is more convenient and lowers the costs incurred in trading shares,” said Nick Brusatore, Executive Chairman of Affinor Growers. “With our shares now trading electronically, investors can instantly benefit from greater liquidity and faster execution speeds. We are excited that new investors that may have been restricted from our stock, can now participate.”
Benefits to Affinor Growers shareholders as a result of becoming DTC approved include reducing the time for stock deposits and withdrawals into brokerage accounts while eliminating the inherent risks associated with the loss and replacement of physical stock certificates. Another side benefit is companies that are approved for DTC electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
Most large U.S. broker-dealers and banks are DTC participants.
About Affinor Growers Inc.
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Affinor Growers is a diversified publicly traded company on the Canadian Securities Exchange under the symbol (“AFI”). Affinor is focused on growing high quality crops such as romaine lettuce, spinach, strawberries and high quality medical Marijuana. Affinor is committed to becoming a pre-eminent grower, using exclusive vertical farming techniques.
On Behalf of the Board of Directors
AFFINOR GROWERS INC.
President & CEO
FORWARD LOOKING INFORMATION
This News Release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This News Release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>