A Canadian company has its eye on the future of marijuana in Aruba and the Caribbean, signing a deal this week to produce marijuana and food there in the near future.
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Affinor Growers Ltd. of Canada this week signed an exclusive license agreement with Vertical Designs Aruba Inc. (“VDA”) to produce marijuana and food using the Affinor Growers patented rotating vertical towers.
In return for granting the license, Affinor Growers will receive 10 percent 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 sub-license Affinor’s technology. Affinor will receive a 10 percent stake in all other sub licences or subsidiaries through-out the Caribbean.
Marijuana is not currently legal in Aruba or the Caribbean, but the deal is “in the event laws changes.”
The company says that one of the key advantages to growing plants using the tower technology in Aruba is the favourable growing climate. Nicholas Brusatore, CEO commented: “I am very excited about the new agriculture market we are about to access in the Caribbean, this will bring Affinor’s technology, additional jobs and training for Aruba.”
Affinor Growers is a publicly traded company on the Canadian Securities Exchange under the symbol (“AFI”). The company is currently focused on growing high quality crops such as romaine lettuce, spinach, strawberries using its vertical farming techniques.
credit:420intel.com
