Affinor Growers Cancels Private Placement Financing and Provides Operational Update

Affinor Growers Cancels Private Placement Financing and Provides Operational Update

VANCOUVER, British Columbia, Aug. 23, 2021 (GLOBE NEWSWIRE) — Affinor Growers Inc. (“Affinor” or the “Company”) (CSE: AFI OTCQB: RSSFF) has cancelled its most recent private placement for one million dollars, and is looking at less dilutive financing going forward. The launch of the company’s first vertical commercial growing facility using its proprietary technology is scheduled for September 2021.

Affinor expects to plant its first strawberries this September. The company’s 15,000 square foot greenhouse in Abbotsford BC is substantially complete. Affinor’s first strawberry crop is expected to be sold in November 2021 through a large Canadian food distributor to Lower Mainland BC grocery stores. The company is working toward Canada GAP, Food Safe and Organic Certifications with plans for ESG compliance.
       
Affinor CEO, Nick Brusatore, commented: “We are in the final stages of preparation for our first commercial greenhouse production showcasing our technology. Integrating alternative energy, water conservation, soil remediation, patented vertical farming cleantech and automation has taken time. But now we are in the unique position of being able to ensure sustainability, high quality, cost efficiency, safety and the ability for rapid rollout across Canada.”

About Affinor

Affinor is a publicly traded company listed on the CSE under the symbol “AFI” and on the OTCQB under the symbol “RSSFF”. Affinor is focused on developing vertical farming technologies and using those technologies to grow fruits, vegetables, and cannabis in a sustainable manner.

To learn more about Affinor, visit: www.affinorgrowers.com

Renmark Financial Communications Inc.
Joshua Lavers: jlavers@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities of the Company referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (theU.S. Securities Act), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.


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