Affinor Growers Completes Financing with Dutchess Opportunity Fund
Affinor Growers Inc. (CSE:AFI,OTCQB:RSSFF) announced that it’s entered into a US$30-million equity line finance agreement with Dutchess Opportunity Fund II LP.
As quoted in the press release:
The Corporation has agreed to file a registration statement with the U.S. Securities & Exchange Commission (“SEC”) covering the shares that may be issued to Dutchess under the terms of the investment agreement. After the SEC has declared the registration statement related to the transaction effective, the company has the right at its sole discretion over a period of three years to sell up to $30 million US of common stock under the terms set forth in the agreement.
Sebastien Plouffe, president and CEO at Affinor, commented:
We are very pleased to have completed this financing with the Dutchess group as we see them as a long term capital partner. This new financing will allow Affinor to achieve this significant milestone to complete the Quebec greenhouse facility in St-Chrysostome, Quebec, which is key to show to the world our model and final products using our own technology.
Meanwhile, Douglas Leighton of Dutchess said:
Dutchess is one of the more active institutional investors in cannabis-related enterprises, and we are delighted to add Affinor to our portfolio. We believe this funding will help the company continue with the Company’s technological growth.