Affinor Growers Inc. has signed a letter of intent (LOI) with Freshbay Inc. with respect to a deep-earth geothermal agricultural site located in Hinton, Alta.
Freshbay currently intends to build a geothermal agricultural site over 19 acres and comprised of over 800,000 square feet of greenhouse facilities located in Hinton, Alberta where it intends to produce an array of fruits and vegetables, including strawberries (the “Project Site”). The LOI sets out the general terms and conditions pursuant to which Affinor will (i) supply its newly designed 3-level vertical farming rotating towers, (ii) Provide Freshbay with all 800,000 square feet of the “New” Atlantis Greenhouses for use at the Project Site, and (iii) assist Freshbay with production of strawberries and provide off take agreement for all products grown in the Affinor tech Pursuant to the LOI, the parties will enter into a purchase and sale agreement, license agreement, or other similar agreement (the “Definitive Agreement”) by no later than March 30, 2023.
Affinor CEO, Nick Brusatore commented: “We are pleased to be involved in this geothermal project with Freshbay. Our vertical growing technology was designed for projects of this scale and in this northern location. The heat energy, amount of sunshine, and glacier-fed water are optimal factors in Hinton along with the dry, cold air through all seasons. We expect that this project will deliver on production quality with high yields to produce strawberries for local markets, the likes of which have never been seen before in Canada.”
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.
To learn more about Affinor, visit: https://www.affinorgrowers.com
On behalf of the Board of Directors,
Affinor Growers Inc.