Affinor Signs Letter of Intent to Purchase 49% of a Legally Licensed Medical Marijuana Company in Washington State
MONTREAL, CANADA--(Marketwired - May 28, 2014) - Affinor Resources (CSE:AFI)(FRANKFURT:1AF)(PINKSHEETS:RSSFF) ("Affinor" or the "Corporation) is excited to announce it's intention to acquire interest in Good to Grow Medical Dispensary and grower located on the Olympic Peninsula in Washington State.
Under the terms, Affinor will acquire 49% of Good To Grow company for cash payment of USD 620,000 over 6 months following the signature of the Definitive Agreement, subject to satisfactory completion of due diligence and regularity approval. The acquisition will be in respect of the Washington State law.
Nick Brusatore, Chairman of Affinor, comment: "This is an extremely exciting day for Affinor. This is a huge deal that will definitely bring the company to a much higher level".
The Port of Willapa Harbor in Raymond, Washington, became the first government body in the state to establish a large scale marijuana growing operation legally under section I-502. Initiative 502 is one of two marijuana-legalization initiatives approved in the US which opens the door to legal investment in a business that already generates well over $1 billion in sales every year. In Washington State, I-502 has spawned an intricate taxation plan and a "three-tier" market structure for production, processing and retailing.
Raymond WA city officials say the legal marijuana growing operation is operating to the letter of the law and within regulations. The new growing industry enjoys significant public support and they are excited about the creation of many new jobs.
Affinor is exploring ways to ensure consistent revenue streams for the potential joint venture. This opportunity gives Affinor's trade, agricultural and drug development experts the freedom to explore export markets globally.
About Affinor Resources Inc.
Affinor 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.
Contact Information
Sebastien Plouffe
President & CEO
(514) 947-2272
splouffe@affinorresources.com
http://www.affinorresources.com
Contact Information, spokesperson
Vertical Designs Ltd
Nick Brusatore, CEO
(604) 356-0411
nbrusatore@gmail.com
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Momentum PR Inc
Max Gagne, President
(514) 913-0351
