Affinor Enters Into a Letter of Intent on a Distribution Agreement

VANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Affinor Growers Inc. (“AFI” or the “Company”) (CSE:AFI, OTC:RSSFF, Frankfurt:1AF) is pleased to announce that the Company has entered into a letter of intent (“LOI”) with Four Our Future Indigenous Economics Ltd. (“FOFIE”) to develop a distribution agreement whereby FOFIE will distribute Affinor products, technologies and/or services to:

• Indigenous communities, Indigenous governments, and Indigenous corporations and organizations;
• Canadian, provincial and municipal Governments in partnerships or with collaborative, service or protocol agreements with Indigenous communities;
  
• Corporations or Industry organizations in partnership or with collaborative or protocol agreements with Indigenous communities; and
  
• The distribution of Affinor products would be limited to sales in regions currently not covered by Affinor’s current licensing partners.

The LOI is for a period of 12 months and may be cancelled at any time by either party. The parties will work to move to a definitive distribution agreement over the 12-month period.

In addition to the LOI with Affinor, FOFIE also entered into a similar agreement with BW GLOBAL Structures Inc. (“BW GLOBAL”). Collectively, the three companies will collaborate on projects across Canada using BW GLOBAL’s technologically advanced greenhouse structures and Affinor’s patented vertical farming technology to help solve the food security issues plaguing the First Nations.

FOFIE is headed by Co-founder and President Chief Gilbert Jacob, more commonly known as Chief Gibby. Chief Gibby is a member of the Squamish Nation located in North Vancouver, British Columbia, Canada. He is one of the most influential Native leaders in Canada. He has been twice recognized as a significant member of society and honored with Vancouver Magazine's Power 50 Award. He is also the recipient of the Queen’s Diamond Jubilee Medal (in 2011), BC Aboriginal Business Award (in 2017), and Senate 150 Anniversary Medal (in 2018)

Chief Gibby commented “This tripartite agreement will facilitate the opportunity for Indigenous Peoples to grow, harvest and potentially sell their produce. A key component of Four Our Future’s mandate is to provide technologies and opportunities for our Indigenous Communities to have access to pure and healthy food to support the health and wellness of their people.”