Affinor Signs Letter of Intent to Purchase 49% of a Legally Licensed Medical Marijuana Company in Washington State
May 28, 2014 (Source: Marketwired) — Affinor Resources (CSE:AFI)(FRANKFURT:1AF)(PINKSHEETS:RSSFF) (“Affinor” or the “Corporation) is excited to announce it’s intention to acquire interest in Good to Grow Medical Dispensary and grower located on the Olympic Peninsula in Washington State.
Under the terms, Affinor will acquire 49% of Good To Grow company for cash payment of USD 620,000 over 6 months following the signature of the Definitive Agreement, subject to satisfactory completion of due diligence and regularity approval. The acquisition will be in respect of the Washington State law.
Nick Brusatore, Chairman of Affinor, comment: “This is an extremely exciting day for Affinor. This is a huge deal that will definitely bring the company to a much higher level”.
The Port of Willapa Harbor in Raymond, Washington, became the first government body in the state to establish a large scale marijuana growing operation legally under section I-502. Initiative 502 is one of two marijuana-legalization initiatives approved in the US which opens the door to legal investment in a business that already generates well over $1 billion in sales every year. In Washington State, I-502 has spawned an intricate taxation plan and a “three-tier” market structure for production, processing and retailing.
Raymond WA city officials say the legal marijuana growing operation is operating to the letter of the law and within regulations. The new growing industry enjoys significant public support and they are excited about the creation of many new jobs.
Affinor is exploring ways to ensure consistent revenue streams for the potential joint venture. This opportunity gives Affinor’s trade, agricultural and drug development experts the freedom to explore export markets globally.
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About Affinor Resources Inc.
Affinor is a diversified publicly traded company on the Canadian Securities Exchange under the symbol (“AFI”). Affinor is focused on the Medical Marijuana industry as well as becoming a producer of other cash crops such as Romaine lettuce and Strawberries.
On Behalf of the Board of Directors
AFFINOR RESOURCES INC.
“Sebastien Plouffe”, President & CEO
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
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