It’s the sort of information the company will have wished it was able to squeeze out before the close of trading, but Affinor Resources (
CSE:C.AFI,
Stock Forum) will be more than happy for potential investors to have the weekend to consider its most recent news release.
From the release:
Affinor is very pleased to announce that it has received conditional approval from the Canadian Securities Exchange […] of its fundamental change of business, which has also been overwhelmingly approved by the shareholders of the Corporation at the special meeting held this day, and closed the acquisition of a 100% interest in a private British Columbia company in the final stages of obtaining their Medical Marijuana growers licence […], previously announced in its May 9, 2014 press release.”
Back to back jacks.
“This approval constitutes the last step of the Corporation plan to change its primary focus from resource exploration to the agriculture, medical marijuana and industrial hemp industries announced on March 25, 2014,” says the company. “The Board of Directors and management of the Corporation believe that it has secured the team, technology and production facility that can allow it to quickly enter those fast and growing industries. Affinor has identified opportunities throughout North America and is poised to capitalize on these opportunities very quickly. The Corporation has filed a new listing statement on the CSE website that provides detailed disclosure of the Corporation's new business and related risk factors.”
Shareholders also approved a new name: Affinor Growers Inc., which goes live May 30.
To have the change of business procedures out of the way (and quickly, well played CSE) AND to have closed their grow deal, is a nice acceleration point for what I’ve been calling the Murderer’s Row of weed companies.
I don’t own it, but only so I can keep writing about it.
Supreme Pharmaceuticals (
CSE:C.SL,
Stock Forum) is getting the taste of blood in its teeth right now, after a great week of stock increases and significant momentum right as the wind is leaving Tweed’s sails.
Today it announced
the closing of its deal to acquire a 342,000 sq. ft. greenhouse facility 100 miles from Ontario. The deal will cost $4.5m, of which $3.5m is the mortgage passed on from the selling private company.
Supreme describes the facility as holding the pre-build MMPR license, and says the facility is “located in a specially created high energy use industrial park’ and is “located next to an unlimited supply of electricity at a very competitive rate, has year round road access and is conveniently located in respect to shipping logistics.”
The company says all local use permits are in place for the facility to commence operation as soon as the MMPR is delivered.
I’ve been slow to get on the Supreme bandwagon, but as far as grow op acquisitions go, this one keeps putting pieces in place without playing the hype game. Consider me in the “hmmmm” category on Supreme right now.
Creative Edge Nutrition (
OTO:FITX:
Stock Forum) signed a neuroscientist to its board.
“
A veteran, in neuroscience, Dr. [Kerry] O'Banion's current research focuses upon pro-inflammatory cytokines and lipid mediators in traumatic brain injury, Alzheimer's disease, radiation injury, and psychiatric illnesses,” says the company.
Fair enough.
Growlife (
OBB:PHOT,
Stock Forum), which was formerly the big fish in the US weed space before an SEC halt and increasing questions over its practices led it to lose 90% of its market cap, will be on the lookout for a new CEO.
Sterling Scott, who had led the company to riches, if only temporarily,
will no longer hold the CEO role, nor the title of President, nor his position on the board.
Marco Hegyi will take over what he’s calling Growlife 2.0, and what a large segment of the market was calling GrowDeath as late as yesterday.
Shares in Growlife jumped 38.4% on the news.
The company owns several retail stores and an e-commerce outfit, as well as its core hydroponics production business.
THE MOVERS: