MONTREAL, CANADA--(Marketwired - Aug. 5, 2014) - Affinor Growers Inc. (CSE:AFI)(OTCQB:RSSFF)(FRANKFURT:1AF) ("Affinor" or the "Corporation) is excited to announce the acquisition of a 49% interest in Good to Grow LLC ("Good to Grow), a medical Marijuana dispensary and grower located on the Olympic Peninsula in Washington State.
Good to Grow is a Marijuana growing operation, which has brought serious attention to the Port of Willapa Harbor, an area that is set to mature with the new marijuana industry.
Good to Grow has been fully operational and in May 2014, Affinor signed a letter of intent to acquire an interest in the company founded by Robert Montoure.
"Affinor's management team has provided guidance and professional consultation all along the way. They've removed many obstacles for us and I look forward to having them as a partner. It will be a pleasure working with them." said Montoure of the Affinor partnership.
Affinor is exploring new ways to ensure consistent revenue streams and the acquisition gives Affinor's trade, agricultural and drug development experts the freedom to explore more export markets globally.
Sebastien Plouffe, President and CEO, comments: "Affinor shall invest US$600,000 to improve the existing facility and bring it up to the strict standards required by Health Canada for growing and dispensing marijuana. This is an amazing deal for Affinor because it will generate immediate revenue for Affinor in the US and Richard has already shown us his passion and dedication"
On July 6, 2014 Reuters news services reported a Marijuana shortage looming for Washington State. Affinor's Executive Chairman, Nick Brusatore comments: "Affinor's ability to produce high quality medical strains to Health Canada standards will skyrocket the already profitable, high margin business. We can absolutely crush it in the US market."
The recreational industry is just getting underway and retail outlets have started opening. The Port of Willapa Harbor in Raymond Washington became the first government body in the state to establish a large-scale marijuana growing operation legally under section I-502.
Initiative 502 is one of two marijuana-legalization initiatives approved in the US, which opens the door to legal investment in a business that already generates well over $1 billion in sales every year. In Washington State, I-502 has spawned an intricate taxation plan and a "three-tier" market structure for production, processing and retailing.
Raymond WA city officials confirmed that Good To Grow is a legal marijuana growing operation respecting all the laws and regulations. The new growing industry enjoys significant public support and they are excited about the creation of many new jobs.
Mayor Bob Jungar stated: "I had been in favour of them ever since they first showed an interest in the community. The thing to remember is that the voters in the state of Washington made it legal. Economically, it's going to be a great thing for the city and the community".
This is a powerful acquisition for Affinor and with the support of Washington State, the Corporation can move toward legally producing high quality marijuana, grown to Health Canada standards, for the US and worldwide markets.
About Affinor Growers Inc.
Affinor Growers is a diversified publicly traded company on the Canadian Securities Exchange under the symbol ("AFI"). Affinor is focused on growing high quality crops such as romaine lettuce, spinach, strawberries and high quality medical Marijuana. Affinor is committed to becoming a pre-eminent grower, using exclusive vertical farming techniques.
On Behalf of the Board of Directors
AFFINOR GROWERS INC.
"Sebastien Plouffe"
President & CEO
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
FORWARD LOOKING INFORMATION
This News Release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com. This News Release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.