VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 20, 2016) - Affinor Growers (CSE:AFI)(CSE:AFI.CN)(FRANKFURT:1AF)(OTCQB:RSSFF) ("Affinor" or the "Corporation), a diversified agriculture and biotechnology company with proprietary vertical farming systems, would like to update shareholders on the progress with several license holders, the THC BioMed equipment shipment and property in Quebec.
License Holders Making Progress
Affinor is pleased to announce the license holder, Vertical Designs Ltd, located in Abbotsford BC has purchased 10 acres of agriculture land, received permits to build from the city, broke ground this month and has recently signed an agreement with Discovery Organics to purchase and distribute all strawberries produced by the facility. Vertical Designs Ltd. is planning to increase the total amount of towers to 36 in the initial build out, increasing Affinor's revenue on equipment sales and royalties. An additional 60,000 square feet of greenhouse over several phases is also being planned to ramp up production when needed to meet local demand roughly, adding another 200 towers when complete. Affinor is a 10% shareholder of Vertical Designs BC Ltd., and will benefit from profits, equipment sales, royalties and have a showcase facility available to sell additional license agreements.
Affinor is also pleased to announce that the license holder in Springfield Tennessee has recently closed on a property to build a greenhouse vertical farming facility. Affinor is working closely with them on planning, design and concepts to help with the next stage of permitting.
THC BioMed Equipment Shipment
Affinor is pleased to announce the equipment to grow and trial cannabis with THC BioMed located in Kelowna BC has been fabricated, finished and ready to be shipped. THC BioMed has requested to delay the shipment until January 2017 in order to complete various ongoing projects. The agreement between the companies, as outlined in Affinor's news release dated April 4 2016, is in good standing and they remain excited to use the technology in early 2017.
Affinor would like to announce that it has sold the property in Quebec. Proceeds will be used to help further the company development and general administration.
About Affinor Growers Inc.
Affinor Growers is a 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 using its vertical farming techniques. Affinor is committed to becoming a pre-eminent supplier and grower, using exclusive vertical farming techniques.
On Behalf of the Board of Directors
AFFINOR GROWERS INC.
- Jarrett Malnarick, President & CEO
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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.