VANCOUVER, British Columbia, October 12, 2022 (GLOBE NEWSWIRE) — Affinor Growers Inc. (“affinor” or the “company“) AFI RSSFF is pleased to announce that it has closed a first tranche of a non-brokered private placement (the “Financing”) for gross proceeds of $124,000.
Funding is in units at $0.08 per unit. Each unit consists of one common share and one common share purchase warrant (“Warrant”). Each warrant entitles the holder to purchase one common share of Affinor growers at a price of $0.10 per share for a period of 24 months from the date of issuance.
The Company may pay 8% finder’s fees in cash and 8% in finder’s warrants. Each warrant is exercisable to purchase one common share at a purchase price of $0.10 for a period of 12 months from the date of issuance.
The net proceeds of the private placement will be used for planting/production costs and to support the startup of the Abbotsford facility.
Insiders have contributed $100,000 to the private placement.
The offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including those of the Canadian Securities Exchange (the “CSE“).
All securities issued in connection with the offering are subject to a statutory hold period of four months plus one day from the date of issue under applicable securities laws. In connection with the Offering, a finder’s fee may be paid to qualifying arm’s length finders in accordance with the CSE Rules and applicable securities laws.
The securities being offered have not been and will not be held under the United States Securities Act of 1933, as amended (the “US Securities Act“) or state securities laws and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the US Securities Act and applicable state securities laws.
About Affinor
Affinor is a public company trading on the CSE under the…
