MONTREAL, CANADA--(Marketwired - Sept. 14, 2015) - Affinor Growers (CSE:AFI)(FRANKFURT:1AF)(OTCQB:RSSFF) ("Affinor" or the "Corporation), a diversified agriculture and biotechnology company with proprietary vertical farming systems, announces the resignation of Mr. Nick Brusatore as the Executive Chairman of the Corporation, effective immediately.
Mr. Brusatore will continue to be a board member and will now dedicate his time as Affinor's VP - Technology. The Corporation is presently in discussions and evaluating key candidates for the Chairman's position.
Sebastien Plouffe, Affinor's President and CEO, comments: "Nick was instrumental for the growth of the Company and at the present time I believe his new position as VP - Technology will be more helpful to achieve our business model. As the largest shareholder, we have no doubt that Nick will continue to do his best to bring the company to the success."
Nick Brusatore comments: "I am excited about this change as I see my stepping down is a huge step forward for Affinor Growers, I am a mechanical designer and a grower of plants using sciences and have now completed our designs to help the world with automated food production vertical farming systems and now I look forward to launching it to the world."
The Corporation also announces the nomination of Mr. Brian Whitlock as a new Board Member. Mr. Whitlock was already a shareholder of Affinor and he invested a significant amount in the recent private placement. Mr. Whitlock ran his own residential and commercial construction and development company for 18 years. Since 1999 he has been a Transportation Coordinator in the Vancouver Film and Television Industry. He also owns and manages his own fleet of film production vehicles. His detailed coordination of complex situations and superior management skills has proven him to be a leader in his field. He will definitely be helpful in Affinor's logistic and with his experience in the industry, his advises shall be highly listened. Under the terms, Mr. Whitlock will receive 500,000 incentive stock options to purchase common shares. The options are exercisable on or before September 14, 2018, at an exercise price of 10 cents per share.
Finally, the Corporation is pleased to announce that Palisade Capital Corp. ("Palisade") has been retained as the independent consultant to provide investor relations and marketing services, setting up marketing teleconferences and road shows for the European, Canadian and U.S. investment community, and assisting in the distribution of news releases. Collin Kettell and Sean Zubick, the principals of Palisade, will be primarily responsible for providing the marketing services to Affinor.
Palisade is an offshore merchant banking group, specializing in high-growth, small-cap investments. Through its global network of private equity groups, fund managers, high-net-worth and retail investors, Palisade is able to create strategic relationships to drive increased liquidity and source financing. (www.palisadecapitalcorp.com)
Sean Zubick, COO of Palisade commented, "We are very excited to work alongside the entire team at Affinor Growers to make 2015 and 2016 a major success. Vertical Farming has the potential to represent a major component of future food supply and Affinor has developed the technology to bring it to fruition."
Effective September 15, 2015, the services agreement for investor relations and market making is for a term of 12 months for a fee of $8,400 per month. Palisade has been granted 300,000 options exercisable at 10 cents for a period of 3 years. Palisade subscribed for 3,000,000 units for an aggregate amount of $150,000 in Affinor's financing completed last Friday.
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. 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.