- Affinor Growers (AFI) has signed a binding letter of intent with Vertical Designs Aruba
- Affinor will purchase 100 per cent of the private equity in Vertical Designs Aruba
- The corporation was established in 2018 to produce fruits, vegetables and, has a pending medical cannabis production license from the Government of Aruba
- The deal is contingent on the company receiving the cannabis license among other things
- Affinor Growers is flat, trading at C$0.04 per share.
Affinor Growers (AFI) has signed a binding letter of intent with Vertical Designs Aruba.
Affinor will purchase 100 per cent of the private equity in Vertical Designs Aruba.
The Aruba corporation was established in 2018 to produce fruits, vegetables and, has a pending medical cannabis production license from the Government of Aruba.
The deal is pending the receipt of that government cannabis production license.
Pending approval, the consideration is all shares at 52,000,000 common shares and contingent upon the achievement of certain performance milestones.
Affinor’s plan in Aruba is to produce food and cannabis sustainably and cost-efficiently.
Over 100 acres on the proposed north island site is available and can accommodate 1,000 vertical towers per acre. Full development would create a new global medical cannabis industry leader and open international markets.
The benefits to Aruba include local food production to reduce imports, high wage employment, education, technology transfer and taxation income.
“Affinor’s mission is to serve the world with sustainable agriculture technology with no compromises on quality. I am so excited about this project. Aruba is a warm, beautiful country filled with wonderful people. I am so proud to be part of the movement for global sustainability and national self-sufficiency serving nations like Aruba,” said Affinor CEO Nick Brusatore.
Affinor Growers is flat, trading at C$0.04 per share.
