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Affinor Growers Raised $352,400

C.AFI

VANCOUVER, British Columbia, April 17, 2018 (GLOBE NEWSWIRE) -- Affinor Growers Inc. (“Affinor Growers”) (CSE:AFI) (OTC:RSSFF) (Frankfurt:1AF) announces that it has closed the first tranche of the $0.11 per unit financing announced on April 10, 2018 at $352,400.

The Company will issue 3,203,631 units (“the Units”), with each Unit consists of one common share of the Company (each a “Share”) and one Share purchase warrant of the Company (each a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share at $0.20 per Share for a period of 24 months following the date of issuance. In the event that the Shares trade at a price on the Canadian Securities Exchange (or such other stock exchange on which the Shares may be traded at such time) of greater than $0.40 per Share for a period of 20 consecutive days, Affinor Growers may accelerate the expiry date of the Warrants by giving notice to the holders thereof by way of a news release, and in such case, the Warrants will expire on the 30th days after the date of such notice.

The Company will pay $7,782 finders’ fees in cash and will issue 70,745 finders’ warrants, with each finder’s warrant having the same terms as the Warrant.

The proceeds of the Offering will be used to fund Affinor Growers’ operations, corporate development and for general working capital purposes.

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.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent  risks and uncertainties and are subject to factors, many of which are beyond Affinor Growers’ control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

AFFINOR GROWERS INC.

“Nicholas Brusatore”

CEO

For More Information, please contact:
Nicholas Brusatore, CEO
604-356-0411
contact@affinorgrowers.com   

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