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Thursday, October 23, 2014

Affinor Growers Inc.


Affinor Growers Signs Definitive Agreement to License Vertical Growing Technology to GeoNovus



MONTREAL, CANADA--(Marketwired - Oct. 23, 2014) - Affinor Growers (CSE:AFI)(OTCQB:RSSFF)(FRANKFURT:1AF) ("Affinor" or the "Corporation) announced today that it will sub-license it's patented, food growing technology (the "Technology") licensed from Vertical Design Ltd. previously announced on October 22, 2014, to GeoNovus Minerals Corp. (TSX VENTURE:GNM)(USA:GMINF) (hereinafter "GeoNovus") giving them access to the agricultural market place (the "Agreement"). This marks the start of Affinor's plan to sublicense the Technology around the world, to the exclusion of Ontario, Alberta and the Maritimes (the «Territory»). This agreement will give GeoNovus access to innovative, fully sustainable and complete growing solutions, which are the result of over 12 years of R&D based on predecessor systems, prototypes, and significant third party validation. GeoNovus will be sub-licensed to use these enhanced farming methods including the proprietary mechanical pollination system, to grow various crops year-round, indoors regardless of seasonality with near zero water waste.

Under the Agreement, Affinor is sublicensing a vertical growing technology to GeoNovus for a facility in Langley, British Columbia, as well as in Uruguay, in exchange for six million (6,000,000) common shares of GeoNovus on signature of the Agreement, and another six million (6,000,000) common shares in six (6) months following the signature of the Agreement, subject to regulatory approval. GeoNovus will also pay a royalty of 3% to Affinor on all of its net sales. Pursuant to the Agreement, Affinor will act as a consultant to GeoNovus by bringing its expertise to implement the Technology and making this project a success for all parties.

GeoNovus president Mike England states, "This licensing agreement will allow GeoNovus access to one of the world's most advanced and potentially profitable vertical farming systems. This technology compliments our current Uruguayan operations and opens up tremendous potential within the multi-billion dollar agricultural market place."

Nick Brusatore, Chairman, comments: "We are thrilled to see our food model to emerge and partnering with GeoNovus and providing them with an exclusive license for our vertical growing technology in Uruguay and in Langley, BC. Not only does this give Affinor a potential royalty stream from GeoNovus' future vertical growing operations but will also provide valuable testing and data from world class scientific facilities in Uruguay while opening-up the Mercosur region for future business".

About Affinor Growers Inc.
Affinor Growers is a diversified publicly traded company on the Canadian Securities Exchange under the symbol ("AFI"). Affinor is focused on growing high quality crops such as romaine lettuce, spinach, strawberries and high quality medical Marijuana. Affinor is committed to becoming a pre-eminent grower, using exclusive vertical farming techniques.
On Behalf of the Board of Directors
AFFINOR GROWERS 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


Affinor Growers Inc.
Sebastien Plouffe
President & CEO
(514) 947-2272
splouffe@affinorgrowers.com
www.affinorgrowers.com

Affinor Growers Inc. - spokesperson
Nick Brusatore
Executive Chairman
(604) 356-0411
nbrusatore@gmail.com
Xmet Inc.


Xmet Elects to Proceed with Phase Two Exploration Program on Blackflake West



TORONTO, ONTARIO--(Marketwired - Oct. 23, 2014) - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) is pleased to announce that it has elected to proceed with Phase Two of the Blackflake West Option Agreement with Metal Creek Resources Corp. (TSX VENTURE:MEK). Xmet has paid to Metals Creek the sum of $15,000 and has issued a further 1,000,000 common shares to Metals Creek in accordance with the terms of its option agreement. Phase Two involves diamond drilling of our All-Channel EM response. "Our exploration results to date on the Blackflake West make proceeding with our option an easy decision. We believe our All Channel EM response to be a significant milestone, having an airborne electromagnetic profile is similar to that of Zenyatta's. We are currently conducting an IP survey on the property which will enable us to more precisely plan the drill program." said Alexander Stewart, Xmet Chairman and CEO.

About Xmet's Blackflake Project
Xmet's Blackflake Project comprises over 30,000 acres of 100% owned claims and over 8,000 acres of fifty percent owned or optioned claims located approximately 60km to the northwest of Hearst, Ontario and is adjacent to Zenyatta's Hydrothermal Graphite Deposit. Xmet has now conducted three airborne electromagnetic surveys, VTEM and TDEM, which discovered multiple electromagnetic conductors making the targets highly prospective for further exploration. Xmet has developed an excellent working relationship with the Constance Lake First Nation, with whom the company signed an ongoing Exploration Agreement. Xmet has received all necessary approvals from the Ministry of Northern Development and Mines to conduct ground geophysics on and to drill the 'All Channel' target.

About Blackflake West
Xmet Inc. has the option to earn up to a 60% interest on a portion of the Blackflake West Graphite Project from Metals Creek Resources Corp. by incurring a series of work commitments on the property as well as cash payments and share issuances as detailed in our May 22nd, 2014 news release. Additional land claims contiguous to the optioned portion of the Blackflake West are either 100% or 50% owned by Xmet Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Xmet assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Xmet. Additional information identifying risks and uncertainties is contained in filings by Xmet with Canadian securities regulators, which filings are available under Xmet's profile at www.sedar.com.
 

Contact Information


Xmet Inc.
Alexander Stewart
Chief Executive Officer
(416) 644-6588
astewart@xmet.ca

Xmet Inc.
Stephen Stewart
President
(416) 644-6588
sstewart@xmet.ca
www.xmet.ca