Affinor Signs Letter of Intent to Purchase 49% of a Legally Licensed Medical Marijuana Company in Washington State
May 28 2014 - 12:33PM
Marketwired
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 InformationSebastien PlouffePresident & CEO(514)
947-2272splouffe@affinorresources.comhttp://www.affinorresources.comContact
Information, spokespersonVertical Designs LtdNick Brusatore,
CEO(604) 356-0411nbrusatore@gmail.comContact InformationMomentum PR
IncMax Gagne, President(514) 913-0351
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