PAVENHAM

Early Warning Report Filed Pursuant to NI 62-103

Retrieved on: 
Thursday, August 11, 2022
Settlement, 4th floor, GLOBE, Debt settlement, National instrument, Unit, Acquisition, NEWS, Company, Early warning, Ownership, National, Howe Street, Security (finance), Holding company

VANCOUVER, British Columbia, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Pavenham Development Corp. (“Pavenham”), with an address at 2321 Bolding Road, Mill Bay, British Columbia, V0R 2P4, has acquired ownership of 1,600,000 units (“Units”) issued by Affinor Growers Inc. (the “Company”), a corporation with a head office at 595 Howe Street, 4th Floor, Vancouver, British Columbia V6C 2T5 (the “Acquisition”). Each Unit is comprised of one common share in the capital of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire one additional Share at a price of $0.15 for a period of 12 months from the date of issuance.

Key Points: 
  • Each Unit is comprised of one common share in the capital of the Company (a Share) and one Share purchase warrant (a Warrant).
  • Pavenham acquired the Units pursuant to a debt settlement agreement (the Debt Settlement Agreement) dated August 2, 2022 (the Debt Settlement Agreement) between the Company and Pavenham.
  • This press release is issued pursuant to early warning requirements of National Instrument 62-104 and National Instrument 62-103, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the Early Warning Report).
  • A copy of the Early Warning Report will be available under the Companys SEDAR profile at www.sedar.com and may be obtained by contacting: Nick Brusatore, Chief Executive Officer, Affinor Growers Inc. at [email protected] or 604-356-0411.

Affinor Growers Announces Securities for Debt Transactions

Retrieved on: 
Tuesday, August 2, 2022
Debt settlement, Jan Arnoldus Schouten, GLOBE, Legislation, AFI, Creditor, Debt, MI, Minority, Vegetable, Company, OTCQB, CSE, CAD, Security (finance), BC

VANCOUVER, British Columbia, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Affinor Growers Inc. (Affinor or the Company) (CSE: AFI; OTCQB: RSSFF), a vertical farming technology and operations company with a commercial production facility in Abbotsford, BC, announces that it has entered into debt settlement agreements with certain creditors (the Creditors) to settle an aggregate of CAD$229,355 in debt (the Debt).

Key Points: 
  • VANCOUVER, British Columbia, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Affinor Growers Inc. (Affinor or the Company) (CSE: AFI; OTCQB: RSSFF), a vertical farming technology and operations company with a commercial production facility in Abbotsford, BC, announces that it has entered into debt settlement agreements with certain creditors (the Creditors) to settle an aggregate of CAD$229,355 in debt (the Debt).
  • The issuance of Units to Mr. Brusatore and Pavenham officer constitute "related party transactions" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions (MI 61-101).
  • The participation by the officer in the Debt Settlement was approved by directors of the Company who are independent in connection with such transactions.
  • All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.