VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Affinor Growers Inc. ("Affinor" or the "Company") (CSE: AFI; OTCQB: RSSFF) is pleased to announce it has signed a commercialization agreement dated November 29, 2021 (the "Commercialization Agreement") with Britespan Building Systems Inc. ("Britespan"), a private Ontario Corporation, to engineer and manufacture new polycarbonate greenhouses co-designed by Affinor and Britespan.
Britespan currently designs, engineers, and manufactures prefabricated buildings in Canada and internationally. Affinor conceived the "Atlantis" greenhouse (the "Atlantis Greenhouse") by adding a polycarbonate material to the outside surface of the Britespan building trusses, dramatically improving certain key performance characteristics of commercial greenhouse systems. The Atlantis Greenhouse optimally accommodates Affinor's vertical growing technology and processes.
Pursuant to the terms and conditions of the Commercialization Agreement, Affinor will be the exclusive worldwide dealer of the Atlantis Greenhouse and Britespan will be the exclusive worldwide supplier of the Atlantis Greenhouse Structure for a term of ten years, with automatic 2-year renewals thereafter. Affinor and Britespan have joint right, title and interest in the Atlantis Greenhouse, including any enhancements, changes or improvements introduced by either party. Britespan has agreed to pay all costs required to design the Atlantis Greenhouse Structure, as well as prefabricate and manufacture the component parts. Affinor retains sole responsibility for ongoing servicing of contracts and relations of customers having purchased an Atlantis Greenhouse.
Affinor and Britespan have also agreed to work together to manufacture the first full-scale demonstration greenhouse (the "Demonstration Greenhouse"), to be built adjacent to Affinor's current lease location on Page Road in Abbotsford. Affinor is responsible for the operation of the Demonstration Greenhouse, including the collection and interpretation of data, and the reporting of the greenhouse performance. This data will form a basis by which Affinor and Britespan will price the Atlantis Greenhouse for commercial sale.
This agreement puts Affinor in a unique position of having complete, turnkey systems for vertical farming technology and processes. The greenhouse design is expected to be competitively priced and quick to build, with special characteristics to accommodate any climate. The Atlantis Greenhouse is a key component of Affinor's 5-year scaleup and growth plan.
CEO Nick Brusatore commented: "The future of indoor and greenhouse vertical farming depends largely on physics for high quality production. The Atlantis Greenhouse design accommodates the environmental requirements for automated, vertical farming production, to prepare us for radical climate changes and the various environments we face globally. I expect that the Atlantis Greenhouse will be very competitive and environmentally superior."
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, vegetables, and cannabis in a sustainable manner. The company's showcase 15,000 square foot greenhouse in Abbotsford, BC is currently growing strawberries.
To learn more about Affinor, visit: www.affinorgrowers.com
On behalf of the Board of Directors,
Affinor Growers Inc.
Nick Brusatore CEO./ Director
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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