Welcome!

News Feed Item

Affinor Licences New Technology from Vertical Designs Ltd. to Mass-Produce Premium Strawberries as First Cash Crop

MONTREAL, CANADA -- (Marketwired) -- 05/02/14 -- 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.

Contacts:
Contact Information
Sebastien Plouffe
President & CEO
(514) 947-2272
[email protected]
www.affinorresources.com

Contact Information
Momentum PR Inc
Max Gagne, President
(514) 913-0351
[email protected]

Contact Information, spokesperson
Vertical Designs Ltd
Nick Brusatore, CEO
(604) 356-0411
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
If there is anything we have learned by now, is that every business paves their own unique path for releasing software- every pipeline, implementation and practices are a bit different, and DevOps comes in all shapes and sizes. Software delivery practices are often comprised of set of several complementing (or even competing) methodologies – such as leveraging Agile, DevOps and even a mix of ITIL, to create the combination that’s most suitable for your organization and that maximize your busines...
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...