VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 27, 2016) - Affinor Growers Inc. (CSE:AFI)(OTCQB:RSSFF)(FRANKFURT:1AF) ("Affinor" or the "Corporation) is pleased to announce it has signed a non-exclusive licensing agreement with a private B.C. based company (The "Licensee"). The agreement allows the Licensee to purchase and install Affinor's growing towers in order to grow and produce strawberries and romaine lettuce in British Columbia. The facility will be built in Abbotsford, British Columbia.
The Licensee is being funded by the inventor of the equipment, Mr. Nick Brusatore, who is also providing the land which he recently purchased. The private company is controlled by a family member of Mr. Brusatore and the plan is to purchase and install 24 towers in phase one, and may install further towers at a later date. Affinor expects to receive payment for the towers during the summer. When the towers are installed and producing, under the agreement, Affinor will receive 10% of sales as a royalty up to $100,000 in royalty payments, and then a 3% of sales royalty thereafter.
Jarrett Malnarick of Affinor Comments: "By having a local partner build and demonstrate a commercial facility using Affinor's technology will not only bring short and long term revenue for the company, but continue to execute our business plan of commercializing the technology."
About Affinor Growers Inc.
Affinor Growers is a 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 using its vertical farming techniques. Affinor is committed to becoming a pre-eminent supplier and grower, using exclusive vertical farming techniques.
On Behalf of the Board of Directors
AFFINOR GROWERS INC.
Jarrett Malnarick, 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.