VANCOUVER, British Columbia, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Affinor Growers Ltd. (“Affinor Growers”) (CSE:AFI) (OTC:RSSFF) (Frankfurt:1AF) is pleased to announce it has signed an exclusive license agreement with Vertical Designs Aruba Inc. (“VDA”) to produce marijuana and food using the Affinor Growers patented rotating vertical towers.
In return for granting the license, Affinor Growers will receive 10% ownership in VDA and VDA will order all towers from Affinor for its farm to be based in Aruba. The license granted to VDA will cover the region of the Caribbean and as VDA expands into other countries in the Caribbean and incorporates new subsidiaries, it may sub license Affinor’s technology and Affinor will receive a 10% stake in all other sub licences or subsidiaries through out the Caribbean.
Marijuana is not currently legal in Aruba, however in the event laws change we will be ready to service the Marijuana market. One of the key advantages to growing plants using the tower technology in Aruba is the favourable growing climate.
Nicholas Brusatore, CEO commented that, “I am very excited about the new agriculture market we are about to access in the Caribbean, this will bring Affinor’s technology, additional jobs and training for Aruba.”
About Affinor Growers
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.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts 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 the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.