Affinor Growers Announces $0.20 Unit Private Placement

VANCOUVER, British Columbia, June 24, 2022 (GLOBE NEWSWIRE) -- Affinor Growers Inc. (“Affinor” or the “Company”) (CNSX:AFI.CN) (OTC-BB:RSSFF) is pleased to announce it is undertaking a private placement of up to 10,000,000 units (the “Units”) at a price of CDN$0.20 per Unit for gross proceeds of up to CDN$2,000,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one additional Share (a “Warrant Share”) at a price of CDN$0.30 per Warrant Share, for a period of 24 months from the date of issuance. Proceeds from the Offering will be used to increase production capacity in the Company’s current greenhouse and build the new Atlantis building for more production and allow for selling turnkey facilities as well as for working capital.