Breaking News!

Loading...

Wednesday, October 22, 2014

Affinor avoids dilution as exclusive commercial licensor


Affinor Growers Inc.


Affinor Growers Signs Exclusive Licensing Agreement With Vertical Designs Ltd.



MONTREAL, QUEBEC--(Marketwired - Oct. 22, 2014) - Affinor Growers (CSE:AFI)(OTCQB:RSSFF)(FRANKFURT:1AF) ("Affinor" or the "Corporation) announced today that it has enter into an Exclusive Patent License Agreement (the «Agreement») with Vertical Designs Ltd. ("VDL") to become the commercial licensor of VDL patented, food growing technology (the «Technology») on a worldwide territory excluding only Ontario, Alberta and the Maritimes (the «Territory»). Under the terms of the Agreement, Affinor will use VDL's Technology to produce high quality non-GMO fruits and vegetables, royalty free to VDL. An initial entry fee is paid to VDL by the issuance of 722,222 common shares of Affinor. This Agreement will allow Affinor to mass-produce all crops worldwide using VDL Technology, starting with the plant in Quebec. 100 % of the profits generated by the plant in St-Chrysostome, or any other facility operated in the future by the Corporation, will belong to Affinor.

Also under the Agreement, Affinor will be able to sublicense VDL Technology for fruits and vegetables to any other company or facility on the Territory and receive a royalty on sub-licensed production. Affinor will receive 50% of any fee or royalty paid to it by any sublicensee of the VDL Technology, the other portion being paid to VDL.

Sebastien Plouffe, President and CEO, comments: "this exclusive licensing agreement with VDL is huge and it shall benefit to Affinor shareholders. Instead of paying $15 million to acquire VDL, we avoid dilution by paying only 722,222 shares and to be the exclusive commercial licensor and we have the possibility to produce food almost anywhere in the world using VDL's technology".

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

Tuesday, October 21, 2014

Xmet Inc.


Xmet Commences Second Phase Ground IP Geophysics on Blackflake West 'All Channel' EM Targets



TORONTO, ONTARIO--(Marketwired - Oct. 21, 2014) - Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE:XME) is pleased to announce that, having completed the necessary eight kilometres of line cutting, it has commenced the second phase of its ground geophysical program on its Blackflake West 'All Channel' Electromagnetic ("EM") targets. The program is expected to be completed within the next seven days.

Xmet has engaged Smart Geophysics to perform the survey using dipole-dipole induced polarization ("IP") technology. The original All-Channel response, referred to in our news release of May 22nd, 2014, was originally from a VTEM flown by Metals Creek Resources. Our recent VTEM survey, referred to in our news release of September 29th, 2014, disclosed that this anomaly originates from the bedrock and was part of a larger All-Channel group of responses just to the northeast of the original. The IP survey currently underway will cover all of these EM All-Channel responses and assist in determining their characteristics.

"This last phase, prior to drilling, consists of ground Induced Polarization which will better delineate the targets for drilling and will also give us a better understanding of the 'All Channel' anomaly's strike and size," said Alexander Stewart Xmet's 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