VANCOUVER, British Columbia, June 08, 2022 (GLOBE NEWSWIRE) -- Affinor Growers Inc. ("Affinor" or the "Company") (CSE: AFI; OTCQB: RSSFF), a vertical farming technology and operations company with a commercial production facility in Abbotsford, BC, is pleased to announce that the Company intends to consolidate the common shares in the capital of the Company (the "Shares") on the basis of a one (1) post-consolidated Share for each ten (10) pre-consolidated Shares (the "Consolidation"). The proposed Consolidation is subject to the approval of the Canadian Securities Exchange (the "CSE"). The Company's name and stock symbol are currently expected to remain unchanged following the Consolidation.
The Company currently has 221,463,625 Shares issued and outstanding and if the proposed Consolidation is undertaken, the Company will have approximately 22,146,362 Shares issued and outstanding.
The Company also announces that Nick Brusatore has been appointed Interim Chief Financial Officer of the Company effective immediately. Mr. Brusatore will replace Sarj Dhaliwal who served as the Company's Chief Financial Officer from December 8, 2020 to June 07, 2022.
Nick Brusatore is a design expert in the commercial production of plants using vertical growing technology. Nick was nominated for the award of excellence in Canada for agriculture in 2012 and was an early pioneer in the vertical farming space back in 2000. He is the initial funder and founder of Affinor Growers (AFI.CN).
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 and vegetables in a sustainable manner. The Company is currently growing strawberries for local markets in its 15,000 square foot greenhouse in Abbotsford, BC.
To learn more about Affinor, visit: www.affinorgrowers.com
Affinor Growers Inc.
Nick Brusatore:
nick@affinorgrowers.com
Tel: (604) 356-0411
www.affinorgrowers.com
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute forward looking information. Forward looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking information. The Company's actual results could differ materially from those anticipated in this forward looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable based on current expectations, but no assurance can be given that these expectations will prove to be correct and such forward looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
