Montreal, QC / ACCESSWIRE / October 29, 2014 / Over the past few weeks Affinor Growers Inc. has made 3 major announcements, advancing its plan to mass produce high quality, in-demand produce and pharmacy grade plants for global distribution. The company is currently working toward becoming a grower of premier medical marijuana and will soon begin producing other major cash crops such as romaine lettuce and strawberries.
To that end, Affinor recently announced the acquisition of a 49% interest in Good to Grow LLC, a medical marijuana dispensary and grower located on Washington's Olympic Peninsula.
"We are now a partner in a producing marijuana facility," says company spokesperson, Nick Brusatore. "When we receive the 502 licence, which we expect to happen by January 2015, we will be able to mass produce weed for Washington State's recreational users. That's a market of more than 700,000 users including out of state visitors."
Initiative 502 legalizes marijuana use in Washington which opens the door to legal investment in a $1 billion plus industry. Washington is one of 2 US states that has legalized and now regulates and taxes recreational marijuana use. With the substantial tax revenues involved, additional jurisdictions could be expected to follow suit in the future.
Good to Grow is fully operational with a 5,000 square foot facility. Affinor's $600,000 investment will be used to scale it up to a state of the art production facility. The company has been generating cash flow supplying the medical marijuana market from a facility that is already I-502 compliant and with the granting of 502 status it will become a major revenue generator and local employer.
Part of Affinor's improvements to the Good to Grow facility will be the implementation of their automated vertical farming technology.
"Vertical growing technology works beautifully for strawberries, lettuce, herbs and marijuana," says Brusatore. "It produces about 13 times more food per square foot than a traditional greenhouse while creating zero water waste." Affinor has acquired an exclusive licence for this patented technology.
"I have a passion to grow marijuana," says Good to Grow owner Richard Montoure. "It is a craft that I have honed over many years. The partnership with Affinor makes it possible to do this on a much larger scale, using their cutting-edge expertise and technology."
Sebastien Plouffe, Affinor Growers President and CEO recently announced that Dr. Bruce Bedrick will join the company as a consultant. Dr. Bedrick is a Chiropractic Physician and business owner with more than 20 years of diverse and innovative experience, Dr Bedrick's focus will be the expansion of the licensing of the vertical farming system technology for the cultivation of produce in the US and Mexico.
The technology will first be showcased on a commercial scale in Affinor's strawberry facility under construction in Quebec. Construction should be completed by year end with production beginning early in 2015.
"Dr. Bedrick is a dynamic leader and achieves outstanding results in challenging environments," says Plouffe. "He has maintained and continues to build strong and loyal relationships with professionals and colleagues across multiple industry sectors. Bruce is definitely a huge addition for Affinor and I'm proud and honoured that he joins our team as an active member."
The third announcement was made September 9th with the signing of an agreement with Herbal Analytics, a Washington State testing laboratory, to provide quality control for cannabis products. Through a cash and shares deal Affinor Growers has acquired a 49% interest in Herbal Analytics.
Herbal Analytics brings a wide range of services to Affinor, providing them with critical data on which to base informed business decisions. They are an industry leader using the most efficient and innovative analytical platforms for accurate and rapid results. They have the staff, equipment and procedures required to comply with the scope of tests that Washington requires for I-502 quality control of cannabis and associated derivatives.
"This relationship is another demonstration of Affinor's commitment to become the ultimate grower and supplier of high quality cannabis products in Washington State and the expanding legalized states and countries. This is a profitable business and Affinor is thrilled to have 49% participation in the profit of Herbal Analytics," says Plouffe.
Affinor Growers is a diversified publicly traded company listed on the Canadian Securities Exchange (AFI), Frankfurt (1AF), and OTC (RSSFF). Learn more at www.affinorgrowers.com, 604-356-0411, or nbrusatore@gmail.com.
CONTACT INFORMATION
Affinor Growers Inc.
Nick Brusatore
Executive Chairman
(604) 356-0411
nbrusatore@gmail.com
SOURCE: Affinor Growers Inc.