Always THOUGHT that AFI at least NEVER HAD Much Debt__BUT the Announcement of
this Private Placement INDICATES a VERY LARGE DEBT !!!!!!! ?????
So WHEN was this DEBT Taken On__And WHAT Was it FOR eh ?????
AFFINOR ARRANGES $1-MILLION PRIVATE PLACEMENT
JANUARY 9, 2024
Affinor Growers Inc. intends to complete a non-brokered private placement of up to five million units of the company at a price of 20 cents per unit for gross proceeds of up to $1-million. A significant portion of the offering, approximately $620,000, is anticipated to be the distribution of units in settlement of existing debt. 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 25 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 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.