Affinor Licences New Technology from Vertical Designs Ltd. to Mass-Produce Premium Strawberries as First Cash Crop
May 02 2014 - 8:00AM
Marketwired
Affinor Licences New Technology from Vertical Designs Ltd. to
Mass-Produce Premium Strawberries as First Cash Crop
MONTREAL, CANADA--(Marketwired - May 2, 2014) - Affinor
Resources (CSE:AFI)(FRANKFURT:1AF)(PINKSHEETS:RSSFF) ("Affinor" or
the "Corporation) executes master plan to begin global food
production.
Affinor is excited to announce it has reached an agreement in
principle to secure an exclusive license (the "License") to the
world's first automated technology growing non-GMO grade A1 market
ready strawberries with Vertical Designs Ltd. ("VDL"). Large, sweet
berries grown purely from water and organic soil result from using
a new automated software driven growing system. Mechanical
pollination and zero water waste provide Affinor with the ability
to grow crops indoor year-round regardless of seasonality.
VDL systems are not typical farming methods. They have been
designed to industrialize, automate and mass-produce strawberries
for global demand; working to solve global food security and
shortage issues.
Affinor will use proprietary technology, optimized separately
for growing leafy green vegetables and other food and produce items
responding to market demands.
The advantage over traditional growing methods includes:
- Zero water waste;
- Reduced Shipping costs and reliance on fossil fuels;
- Elimination of pesticides and other chemicals;
- Mechanical pollination helps save threatened bee colonies;
- 10 to 15 times increased yield per square foot of land;
- Dramatically reduced spoilage and extended shelf life of crops
produced;
- Minimized environmental impact in terms of water use, land, and
power;
- Less variable pricing with consistently available local
product;
- Reduced capital requirements to maintain large scale farming
equipment;
- Jobs creation and opportunities for employment in remote
communities.
Pursuant to the terms of the Licence, Affinor will pay an
aggregate $250,000 and issue a total of 1,000,000 common shares of
the Corporation (the "Issuance") at deemed price of $0.25 per share
to VDL upon the execution of the definitive Licence, which is
expected to be early next week. In exchange VDL will run the
development budgets, designs and deliver a turnkey production
facility as well as secure purchasing agreement for all of the
Corporation's production. VDL will be entitled to 5% net royalty on
the production.
VDL being a related party to Affinor within the meaning of
Regulation 61-101 respecting Protection of Minority Security
Holders in Special Transactions (the "Regulation 61-101"). The
Issuance will constitutes a "related party transaction" within the
meaning of Regulation 61-101. However, the directors of the
Corporation have determined that the exemptions from formal
valuation and minority approval requirements provided for
respectively under subsections 5.5(a) and 5.7(1)(a) of Regulation
61-101 can be relied on as neither the fair market value of the
securities issued in favour of the related party nor the fair
market value of the consideration paid for these securities exceed
25% of the Corporation's market capitalization. None of the
Corporation's directors has expressed any contrary views or
disagreements with respect to the foregoing. A material change
report in respect of this related party transaction will be filed
by the Corporation but could not be filed earlier than 21 days
prior to the closing of the Licence due to the fact that the terms
of the License were not confirmed and the necessity to act in a
timely manner.
Sebastien Plouffe, President and CEO of Affinor, comments: "This
transaction is exactly what our shareholders needed. While waiting
for Health Canada to issue licences regarding Medical Marijuana in
order to become a grower of premier in Medical Marijuana, we are
taking a huge step to achieve our utimate goal to generate revenues
and profits by setting the company to produce other major cash
crops such as Romaine lettuce and Strawberies. We believe that this
model will revolutionize the world in the area of food production
by which a 12 months per year production will be executed without
any pesticide and with very high quality products. We already have
targeted the location to build the first facility and we shall
execute the plan as soon as possible. Thanks VDL for this amazing
opportunity, we are defininitly building a strong and long term
relation with one of the best in the industry."
All securities issued pursuant to the Issuance will be subject
to a hold period ending fourth month a day after their
issuance.
About Affinor Resources
Inc.
Affinor Resources is a diversified publicly traded company on
the Canadian Securities Exchange under the symbol ("AFI"). Affinor
is focused on the Medical Marijuana industry as well as becoming a
producer of other cash crops such as Romaine lettuce and
Strawberries. On Behalf of the Board of Directors
AFFINOR RESOURCES 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.
Contact InformationSebastien PlouffePresident & CEO(514)
947-2272splouffe@affinorresources.comwww.affinorresources.comContact
Information, spokespersonVertical Designs LtdNick Brusatore,
CEO(604) 356-0411nbrusatore@gmail.comContact InformationMomentum PR
IncMax Gagne, President(514)
913-0351mgagnegodbout@momentumpr.ca
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