BINDING Letter of INTENT__IF This ""DEAL"" EVER Goes Ahead ARUBA Vertical DESIGNS
Receives 52 MILLION AFI Share__Even @ the Current 3 Cents THAT IS
$$$$ 1,560,000__PLUS
EXEC BONUS__AND
$$$$ 500,000 Pretty SWEET ""ARUBA RRIF"" for Uncle NICKEY/aka Vertical Designs Aruba !!!
Especially TAKING InTo Consideration the CURRENT VALUE of ARUBA Vertical Designs
ASSETS eh ????
Affinor Growers Prepares for Vertical Farming in Aruba
C.AFI | May 13, 2021
VANCOUVER, British Columbia, May 13, 2021 (GLOBE NEWSWIRE) -- Affinor Growers Inc. (“ Affinor ” or the “ Company ”) (CSE: AFI OTCQB: RSSFF) is pleased to announce that it has signed a binding Letter of Intent to purchase 100% of the private equity in Vertical Designs Aruba (“VDA”). The Aruba corporation was established in 2018 to produce fruits, vegetables and, pending receipt of a medical cannabis production license from the Government of Aruba, the consideration is all shares at 52,000,000 common shares and contingent upon the achievement of certain performance milestones:
The terms of the purchase and performance milestones are as follows:
Milestone 1: Cannabis Production for Exportation Licence is issued from the Government of Aruba and up to 49% of the project is sold for a specified minimum price (Minimum Sale Price) subject to approval by the Affinor Board of Directors of AFI.CN.
Terms: Upon achievement of Milestone 1, The shareholders will receive 26,000,000 common shares in AFI.CN with the standard 4-month hold. An executive bonus of 10% of the amount above the Minimum Sale Price noted above plus CDN$500,000. A pre-determined amount of the Minimum Sale Price will be retained in VDA to build out the first facility in Aruba.
Milestone 2: Build out a minimum 200 (two) tower facility in Aruba. The first 5,000 - 6,000lbs (2,300 to 2,700 kilos) of cannabis produced in Aruba is successfully exported and completely sold out at a pre-determined or mutually agreed amount.
Terms: Upon completion of Milestone 2, the balance of 26,000,000 common shares in AFI.CN will be issued the former VDA shareholders with a standard 4-month hold.