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ORIGINAL: Affinor Growers Announces $0.05 Unit Private Placement
2021-03-09 09:28 ET - News Release
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, March 09, 2021 (GLOBE NEWSWIRE) -- Affinor Growers Inc. (“Affinor” or the “Company”) (CSE: AFI) (OTCQB: RSSFF) is pleased to announce it is undertaking a private placement of up to 20,000,000 units (the “Units”) at a price of CDN$0.05 per Unit for gross proceeds of up to CDN$1,000,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one additional Share (a “Warrant Share”) at a price of CDN$0.07 per Warrant Share, for a period of 12 months from the date of issuance. The net proceeds of the Offering will be used to enter the Canadian Cannabis industry and build out Affinor Growers' first turnkey full scale vertical automated craft cannabis micro facility; this will showcase the commercialization of Our patented vertical farming technology, not only for fruits and vegetables, but also in the cannabis space.
Nick Brusatore: I believe I speak for us all when I say the Affinor Growers management team believes in high quality and service, this showcase in the cannabis space will show the markets just how we fit in.
The Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the approvals of the Canadian Securities Exchange (the “CSE”).
All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws. A finder's fee may be paid in connection with the Offering to eligible arm's length finders in accordance with CSE policies and applicable securities laws.
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About Affinor
Affinor is a publicly traded company listed on the CSE under the symbol "AFI" and on the OTCQB under the symbol “RSSFF”. Affinor is focused on developing vertical farming technologies and using those technologies to grow fruits and vegetables in a sustainable manner.