Affinor Growers expects to complete the acquisition of RoofTop.
Affinor Growers (RSSFF: OTCQB) announced that they expect to complete the previously announced acquisition of all the issued and outstanding securities of RoofTop. This agreement was first announced on September 11, 2014. RoofTop will receive a cash payment of $500,000 and 1,636,363 shares of common stock of RSSFF as soon as the City of Vancouver executes the lease assignment. There was a delay that occurred and was unexpected, which caused the parties to amend the agreement, extending the closing date until October 3, 2014.
The Intellectual Property that Affinor will receive from this acquisition is very important to the company and will be useful in the future development and production aspects in the United States.
Shares of RSSFF responded very favorably to this announcement and shares were up 15% today. RSSFF is up over 25% since September 24th and we see legs left to this run. Shares are trading below their 20 and 50 day moving average, but positive news and high volume will help the stock breakout to the upside.
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