Affinor Growers arranges $50,000 private placement
2024-03-14 13:56 ET - News Release
AFFINOR GROWERS ANNOUNCES UNIT FINANCING
Affinor Growers Inc. intends to complete a non-brokered private placement of up to one million units of the company at a price of five cents per unit for gross proceeds of up to $50,000. Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of 10 cents per warrant share for a period of 24 months from the date of distribution.
The company intends to use the net proceeds from the offering for administration fees and the production and development of strawberries. Closing of the offering is expected to occur as soon as practicable and may occur in one or more tranches.
The company may pay a finder's fee in connection with the offering to eligible arm's-length finders in accordance with the policies of the Canadian Securities Exchange. All securities issued in connection with the offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.
About Affinor Growers Inc.
Affinor is focused on developing vertical farming technologies and using those technologies to grow fruits and vegetables in a sustainable manner.