|By Marketwired .||
|May 2, 2014 08:00 AM EDT||
MONTREAL, CANADA -- (Marketwired) -- 05/02/14 -- Affinor Resources (CSE:AFI)(FRANKFURT:1AF)(PINKSHEETS:RSSFF) ("Affinor" or the "Corporation) executes master plan to begin global food production.
Affinor is excited to announce it has reached an agreement in principle to secure an exclusive license (the "License") to the world's first automated technology growing non-GMO grade A1 market ready strawberries with Vertical Designs Ltd. ("VDL"). Large, sweet berries grown purely from water and organic soil result from using a new automated software driven growing system. Mechanical pollination and zero water waste provide Affinor with the ability to grow crops indoor year-round regardless of seasonality.
VDL systems are not typical farming methods. They have been designed to industrialize, automate and mass-produce strawberries for global demand; working to solve global food security and shortage issues.
Affinor will use proprietary technology, optimized separately for growing leafy green vegetables and other food and produce items responding to market demands.
The advantage over traditional growing methods includes:
-- Zero water waste; -- Reduced Shipping costs and reliance on fossil fuels; -- Elimination of pesticides and other chemicals; -- Mechanical pollination helps save threatened bee colonies; -- 10 to 15 times increased yield per square foot of land; -- Dramatically reduced spoilage and extended shelf life of crops produced; -- Minimized environmental impact in terms of water use, land, and power; -- Less variable pricing with consistently available local product; -- Reduced capital requirements to maintain large scale farming equipment; -- Jobs creation and opportunities for employment in remote communities.
Pursuant to the terms of the Licence, Affinor will pay an aggregate $250,000 and issue a total of 1,000,000 common shares of the Corporation (the "Issuance") at deemed price of $0.25 per share to VDL upon the execution of the definitive Licence, which is expected to be early next week. In exchange VDL will run the development budgets, designs and deliver a turnkey production facility as well as secure purchasing agreement for all of the Corporation's production. VDL will be entitled to 5% net royalty on the production.
VDL being a related party to Affinor within the meaning of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (the "Regulation 61-101"). The Issuance will constitutes a "related party transaction" within the meaning of Regulation 61-101. However, the directors of the Corporation have determined that the exemptions from formal valuation and minority approval requirements provided for respectively under subsections 5.5(a) and 5.7(1)(a) of Regulation 61-101 can be relied on as neither the fair market value of the securities issued in favour of the related party nor the fair market value of the consideration paid for these securities exceed 25% of the Corporation's market capitalization. None of the Corporation's directors has expressed any contrary views or disagreements with respect to the foregoing. A material change report in respect of this related party transaction will be filed by the Corporation but could not be filed earlier than 21 days prior to the closing of the Licence due to the fact that the terms of the License were not confirmed and the necessity to act in a timely manner.
Sebastien Plouffe, President and CEO of Affinor, comments: "This transaction is exactly what our shareholders needed. While waiting for Health Canada to issue licences regarding Medical Marijuana in order to become a grower of premier in Medical Marijuana, we are taking a huge step to achieve our utimate goal to generate revenues and profits by setting the company to produce other major cash crops such as Romaine lettuce and Strawberies. We believe that this model will revolutionize the world in the area of food production by which a 12 months per year production will be executed without any pesticide and with very high quality products. We already have targeted the location to build the first facility and we shall execute the plan as soon as possible. Thanks VDL for this amazing opportunity, we are defininitly building a strong and long term relation with one of the best in the industry."
All securities issued pursuant to the Issuance will be subject to a hold period ending fourth month a day after their issuance.
About Affinor Resources Inc.
Affinor Resources is a diversified publicly traded company on the Canadian Securities Exchange under the symbol ("AFI"). Affinor is focused on the Medical Marijuana industry as well as becoming a producer of other cash crops such as Romaine lettuce and Strawberries.
On Behalf of the Board of Directors
AFFINOR RESOURCES INC.
Sebastien Plouffe, President & CEO
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
FORWARD LOOKING INFORMATION
This News Release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com. This News Release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
President & CEO
Momentum PR Inc
Max Gagne, President
Contact Information, spokesperson
Vertical Designs Ltd
Nick Brusatore, CEO
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, will analyze how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining B...
May. 30, 2015 11:45 AM EDT Reads: 568
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal S...
May. 30, 2015 11:30 AM EDT Reads: 4,011
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust...
May. 30, 2015 11:15 AM EDT Reads: 1,088
The world is at a tipping point where the technology, the device and global adoption are converging to such a point that we will see an explosion of a world where smartphone devices not only allow us to talk to each other, but allow for communication between everything – serving as a central hub from which we control our world – MediaTek is at the heart of both driving this and allowing the markets to drive this reality forward themselves. The next wave of consumer gadgets is here – smart, con...
May. 30, 2015 11:15 AM EDT Reads: 833
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enter...
May. 30, 2015 11:15 AM EDT Reads: 2,172
Cloud computing started a technology revolution; now DevOps is driving that revolution forward. By enabling new approaches to service delivery, cloud and DevOps together are delivering even greater speed, agility, and efficiency. No wonder leading innovators are adopting DevOps and cloud together! In his session at DevOps Summit, Andi Mann, Vice President of Strategic Solutions at CA Technologies, explored the synergies in these two approaches, with practical tips, techniques, research data, wa...
May. 30, 2015 11:00 AM EDT Reads: 6,664
paradigm shifts in networking, to cloud and licensure, and all the Internet of Things in between. In 2014 automation was the name of the game. In his session at DevOps Summit, Matthew Joyce, a Sales Engineer at Big Switch, will discuss why in 2015 it’s complexity reduction. Matthew Joyce, a sales engineer at Big Switch, is helping push networking into the 21st century. He is also a hacker at NYC Resistor. Previously he worked at NASA Ames Research Center with the Nebula Project (where OpenSta...
May. 30, 2015 11:00 AM EDT Reads: 654
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
May. 30, 2015 11:00 AM EDT Reads: 785
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
May. 30, 2015 11:00 AM EDT Reads: 1,499
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
May. 30, 2015 11:00 AM EDT Reads: 1,575
The multi-trillion economic opportunity around the "Internet of Things" (IoT) is emerging as the hottest topic for investors in 2015. As we connect the physical world with information technology, data from actions, processes and the environment can increase sales, improve efficiencies, automate daily activities and minimize risk. In his session at @ThingsExpo, Ed Maguire, Senior Analyst at CLSA Americas, will describe what is new and different about IoT, explore financial, technological and re...
May. 30, 2015 11:00 AM EDT Reads: 683
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
May. 30, 2015 11:00 AM EDT Reads: 5,501
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue o...
May. 30, 2015 11:00 AM EDT Reads: 1,040
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
May. 30, 2015 10:30 AM EDT Reads: 4,368
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption...
May. 30, 2015 10:30 AM EDT Reads: 888