AFFINOR GROWERS IN (OTCMKTS:RSSFF) is seeing some nice volume today after positive news continues to trickle out for the company. First, RSSFF announced a purchase order for 32 vertical farming towers. The revenue will amount to around $66,666. Second, RSSFF announced a financing effort, and, third, the company has a Caribbean licensing agreement that interests us.
Foremost, the recent purchase order brings some needed revenue in for RSSFF. The order represents a strong advertisement for the company’s product line of vertical growing systems. Nick Brusatore CEO, commented that “Today marks a very exciting milestone for Vertical Designs, Affinor Grower and the growing vertical farming industry. I believe this important state of the art facility will be a showcase for the future of organic food production”. According to the company, RSSFF’s indoor controlled vertical farming technology is the only growing system that can offer true perpetual year round harvesting. Unlike other vertical systems, the equipment is specifically designed so the plant moves horizontally in phases from seedling to harvest. In each phase, the plant will be exposed to a unique micro-climate, providing an optimal environment based on the plant’s growth cycle requirements, allowing them to achieve their full potential. All plants are grown in their natural medium, organic soil, without the use of chemicals or pesticides.
AFFINOR GROWERS IN (OTCMKTS:RSSFF) is a 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 using its vertical farming techniques. Affinor is committed to becoming a pre-eminent supplier and grower, using exclusive vertical farming techniques.
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Earlier, and less recently, RSSFF closed the first tranche for total proceeds of $3,999,666. The company intends to use its overallotment option to close the final tranche for up to an additional $4 million.
And lastly, RSSFF announced a licensing agreement with Vertical Designs Aruba.
RSSFF will receive 10% ownership in VDA and VDA will order all towers from Affinor for its farm to be based in Aruba. The license granted to VDA will cover the region of the Caribbean and as VDA expands into other countries in the Caribbean and incorporates new subsidiaries, it may sublicense RSSFF’s technology and will receive a 10% stake in all other sublicenses or subsidiaries throughout the Caribbean.
Important to note, Aruba does not currently have a legal cannabis market, but laws are evolving around the world and the Caribbean could be on the horizon. Brusatore commented that “I am very excited about the new agriculture market we are about to access in the Caribbean, this will bring RSSFF’s technology, additional jobs and training for Aruba.”
AFFINOR GROWERS IN (OTCMKTS:RSSFF) has a market cap of $18.19M with a float of 112.82M. RSSFF is seeing a nice jump in volume as the price has remained volatile but there is still a lot more that needs to be seen from this growing company. We will be writing updates soon on this exciting story. Sign-up for continuing coverage on shares of $RSSFF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $RSSFF, either long or short, and we have not been compensated for this article.