Affinor Growers highlights third quarter accomplishments
- Commercial Farm foundation poured, structures installed.
- UFV beta testing for winter program underway.
- Equipment being tested by Cannabis grower.
- New license agreements in process
Vancouver (Canada), November 7 2017 - Affinor Growers (CSE:AFI, OTC:RSSFF, Frankfurt:1AF) (“Affinor” or the “Corporation”), is pleased to provide an update of the Company’s accomplishments over the last several months, and Affinor’s plans for the current year.
Our focus is to become the leading technology developer and supplier of vertical farming equipment, dramatically increasing the economics of farming, improving food security and increasing agriculture production for high value crops. Affinor continues to focus on strawberry development, but will also begin testing other crops including kale, leafy greens and cannabis. Affinor will continue to grow and harvest strawberries, kale and leafy greens with our beta prototypes installed at the University of Fraser Valley throughout the winter and spring 2018, as well as conduct cannabis trials at a separate third party licensed facility. The focus will continue on standardizing crop models and determining best practices for commercialization.
Affinor's goal over the next year is to shift from a development to an operational company by generating revenue from vertical tower sales, license agreements and introducing new agriculture technologies. We have numerous license agreements under negotiations with international and local companies as well as several current license holders under construction with equipment orders pending.
Commercial Farm in Abbotsford
Affinor expects to commission 32 towers with our license holder in Abbotsford British Columbia. These towers are capable of growing over 21,000 strawberry plants in a 10,000 square foot facility, compared to over 40,000 square feet required in field growing. The project is expected to be complete in the spring of 2018 for the next growing season. The facility will be one of our first license holders to commercially produce products using Affinor technology. Construction continues and all the construction permits have been granted, the foundation has been poured, frames holding the towers have been designed and ordered, and all greenhouse metal frames, trust and supports, have been erected and installed. The final component, the translucent polycarbonate cover to enclose and complete the greenhouse, will be installed over the next several months.
Beta Prototype Testing Update
Our summer 2017 trials using two 4 level beta prototype towers at the University of the Fraser Valley (“UFV”) Surrey BC location in the agriculture research greenhouse is now complete. (see news release November 1 2017, "Summer Strawberry Test Doubles Production"). Affinor's next objective is to produce strawberries throughout the winter with customized LED supplemental lighting for fruiting crops and diversify the crop trials with kale during the winter 2018.
Affinor and Cannabis Production
Affinor will continuing allow third parties to test cannabis on our growing technology, furthering yields and output by developing new crop models for short, high producing cannabis plants specific to the needs of the vertical towers, at licensed sites. A second trial using our smaller 4 level 16 arm tower will begin in November 2017. This test will be used to showcase the technology for personal use growers and to prove to commercial growers the larger scale viability. We are still negotiating with cannabis growers throughout North America to help facilitate a larger pilot plant cannabis growth trial.
The test previously planned with THC BioMed to use the growing technology for their cultivation is not proceeding at this time as they feel they cannot contribute any more to our testing than we are currently conducting. Once complete, they might be interested in proceeding with a multi-tower pilot trial.
Affinor’s option to purchase an LP application located in British Columbia is still under review as the applicants have not received their license to cultivate. Affinor continues to help and support the applicant throughout the process, as well as, review other late stage applications.
License Agreements and Sales
Affinor continues to negotiate several license agreements with various companies to use our technology based on our beta prototype concepts and preliminary production results. Each license agreement has the potential to generate significant equipment sales, long term royalties, ownership options and joint venture partnerships.
For More Information, please contact:
Jarrett Malnarick, President and CEO
About Affinor Growers Inc.
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.
On Behalf of the Board of Directors
AFFINOR GROWERS INC.
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.