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Affinor Growers (C.AFI), down 7%, announces Saskatchewan expansion plans

Stockhouse Editorial
0 Comments| June 10, 2014

Affinor Growers (CSE:AFI, Stock Forum), a Montreal Quebec-based medical marijuana hopeful and premium fruit and vegetable growing firm, announced today that the company is planning to construct its first state-of-the-art strawberry growing facility on 240 acres of land south of Saskatoon in the province of Saskatchewan.


According to the news release, even though the company's offer has been accepted for the purchase of the property, the transaction is still subject to due diligence and board approval.


The company will continue farming crops while building the new facility. After its construction, the company intends to work in concert with the University of Saskatchewan to provide working opportunities for agricultural students and post-graduates.


Company president and CEO, Sebastien Plouffe, commented, “Saskatchewan Provincial governments have incentives for investments into agriculture and job creation and the Affinor Growers team is excited to explore ways to best collaborate and expand into such a receptive culture in Canada.”


Affinor was in the news recently when the company entered into an LOI for the acquisition of Fab-All for $10 million yesterday.


Shares fell 7.45% on the news to $0.87 per share.


Currently there are 61.0m outstanding shares with a market cap of $53.0 million.

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