Affinor Growers Closes Acquisition of Vancouver Rooftop Growing Facility and Intellectual Property
September 11, 2014 (Source: Marketwired) — Affinor (CSE:AFI)(OTCQB:RSSFF)(FRANKFURT:1AF) (“Affinor” or the “Corporation) has closed the deal of previously LOI announced on July 11, 2014 and acquire all the assets of 0993341 “BC” Ltd related to the operation of the Vancouver rooftop growing facility, located at 523/535 Richards Street, in Vancouver BC. The IP from this acquisition is very important to Affinor and will be useful to develop pharmaceutical and marijuana production aspects in United States and Canada.
This acquisition will also allow Affinor to retrofit the facility and start growing baby greens using this new vertical farming technology. Affinor Growers will now be able to fast track operations and put fresh food and pesticide free on the shelf in Vancouver and demonstrate viability to the market adding yet another potentially, high-margin revenue stream.
This is also a great opportunity for the City of Vancouver to continue their vision of growing fresh urban food. The Vancouver Food Strategy has a plan to create a sustainable food system for the city, which builds on years of food systems considering all aspects from seed to table to compost heap. Affinor is excited to participate in Vancouver’s goal to become the “greenest” city by 2020.
Executive Chairman Nick Brusatore, comments: “I am very please with this acquisition as it is a very important move for Affinor to have vertical farming equipment as we enter into the pharmaceutical, neutraceutical and marijuana market in Washington.”
About Affinor Growers Inc.
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|
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FORWARD LOOKING INFORMATION
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