Latest News from Affinor Growers
Affinor Growers Closes $30 Million US Equity Line Facility With Dutchess Opportunity Fund II, LP
MONTREAL, CANADA--(Marketwired - Feb. 19, 2015) - Affinor Growers (CSE:AFI)(OTCQB:RSSFF)(FRANKFURT:1AF) ("Affinor" or the "Corporation") a company focused on mass producing, high quality, in-demand produce and high quality plants for global distribution, announced today that it has entered into a $30 million US equity line facility agreement with Dutchess Opportunity Fund II, LP, a Delaware limited partnership.
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 of Affinor, comments: "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".
Douglas Leighton, managing partner at Dutchess, comments: "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."
About Dutchess Opportunity Fund, II, LP
Dutchess Opportunity Fund II LP invests in special situations assisting growth-stage and mature companies alike. Founded in 1996, Dutchess Capital, through its investment funds, has managed over $2 billion in transactional value for companies, which span a wide array of sectors. With offices in Boston, New York, London, Beijing, and São Paulo, Dutchess Opportunity Fund II LP invests in global investment opportunities and has become a leading investor in cannabis-related businesses. For further information about Dutchess, please visit dutchesscapital.com.