9th August 2022
Stock Market

Affinor Growers (CSE:AFI) Announces $2M Private Placement

Affinor Growers (AFI) is undertaking a private placement for gross proceeds of up to $2,000,000.

The company will issue up to 10,000,000 units at a price of $0.20 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional share at a price of $0.30 for a period of 24 months.

Proceeds will be used to increase production capacity in the company’s current greenhouse and build the new Atlantis building as well as for working capital.

The offering is subject to the receipt of all necessary corporate and regulatory approvals, including the approvals of the Canadian Securities Exchange.

All securities issued in connection with the offering will be subject to a statutory hold period of four months.

A finder’s fee may be paid to eligible arm’s length finders in accordance with CSE policies and applicable securities laws.

Affinor is focused on developing vertical farming technologies to grow fruits, vegetables, and cannabis in a sustainable manner.

1 Comment

  • […] The company announced a $2 million private placement on the 6th of July, with proceeds to be used to increase production capacity in the company’s current greenhouse and build the new Atlantis building as well as for working capital. The company also announced that Rick Easthom has resigned as Chairman of the Company, effective immediately, to pursue his other business interests. Mr. Easthom will continue to serve as a director of the Company and as a member of the Company’s Audit Committee. Mr. Easthom has been an advisor for the Corporation since June 2014 and was appointed to the board of directors in 2016. […]

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