AgraFlora Organics International Inc.
(“
AgraFlora” or the
“
Company”) (
CSE: AGRA) (Frankfurt:
PU31) (OTCPK: PUFXF), a growth oriented and diversified
international cannabis company, is pleased to provide the following
operational guidance and corporate development updates pertaining
to its wholly-owned, vertically integrated cannabinoid-infused
cosmetics/topicals subsidiary, Canutra Naturals Ltd. (“Canutra”):
- U.S. expansion of Canutra’s trusted consumer brand suite,
including its Whole Hemp Health line of all natural skin care
products, derived from 100% Organic Canadian hemp seed oil:
° Introduction of its vertically integrated “farm-to-face”
cultivation, manufacturing and distribution model across all 50
U.S. States; ° Canutra/Whole Hemp Health product
portfolio available for purchase at www.wholehemphealth.ca;
- Exclusive partnership with leading digital marketing firm,
Covault Technologies Inc. (“Covault”): ° To
leverage Covault’s proprietary e-commerce marketing platform and
suite of automation tools to initiate geometric growth across the
continental U.S.;
- Definitive discussions to secure national listings of its
product portfolio through prominent, high traffic U.S. distribution
channels including: ° Pharmacies;
° Naturopathic clinics; ° Salons/spas;
and, ° Health and wellness retailers;
- Achievement of shelved Canutra products in over 20 Canadian
brick and mortar locations, augmented by forecasted Q3 purchase
orders expanding its retail product footprint to 100 unique
locations; ° Strategically selected to amplify
brand awareness within the Company’s Canadian target
demographic; ° Locations are diverse
geographically and will function as a springboard to introduce
Canutra’s luxury, hemp-powered personal care products from coast to
coast;
- Initiation of multifaceted social media and e-commerce
influencer marketing campaigns, targeting select U.S. marketplaces
primed for mass adoption such as New York, Los Angeles and
Seattle;
- Architecture of a network of temporary Canutra/Whole Hemp
Health branded pop-up shops, further expanding the Company’s retail
footprint and brand presence in an economical and contemporary
manner;
- Continued collaboration with the Universite de Moncton (“UM”)
with the objective of augmenting Canutra’s portfolio of
intellectual property (“IP”) including: ° High CBD
hemp cultivation techniques; ° Advanced extraction
methodologies; ° Cultivar development;
° Inoculation formulations; and,
° Proprietary cannabinoid profiles for future skin care
product lines;
- Imminent expected award of Canutra’s 2019 cannabis research
license from Health Canada.
By way of its wholly-owned, cannabinoid-infused
cosmetics/topicals subsidiary, Canutra, AgraFlora is equipped with
robust cultivation, extraction, manufacturing and distribution
capabilities from the Company’s flagship facility in Kent County,
New Brunswick. Canutra owns and operates 76 acres of unzoned, arid
agricultural land, including 1,000 feet of river frontage.
The Company’s New Brunswick facility, formerly a Federally owned
farm and research facility, boasts over 17,500 square feet of
commercial-grade production facilities, as well as 12 separate
free-standing structures. Canutra was granted an industrial hemp
licence by Health Canada for its New Brunswick land parcel and
expects the imminent award of its 2019 Health Canada cannabis
research license in the coming weeks.
Canutra manufactures and distributes premium personal care,
cosmetics and cannabinoid-infused product lines including a suite
of trusted consumer brands such as Whole Hemp Health; a Canadian
all-natural, hand-made skin care line, formulated with 100%
Canadian organic hemp seed oil. Canutra markets its Whole Hemp
Health products by way of brick-and-mortar retail outlets, Amazon
Prime, as well as direct to consumer, through an integrated Shopify
e-commerce platform.
The Company has continued it pre-existing cannabis/hemp research
and development partnership with the Universite de Moncton (“UM”)
and is pursuing ongoing collaborations with UM to augment its IP
portfolio.
Leveraging Canutra’s turnkey cultivation/manufacturing
ecosystem, AgraFlora is positioned to capitalize on current and
future market trends in the rapidly expanding cannabinoid-infused
consumer package goods (“CPG”) space. Existing turnkey
cultivation/manufacturing capabilities will expedite the Company’s
ability to swiftly expand the breadth of its product line to more
than 40 SKUs. Canutra is finalizing the development phase of a
suite of innovative SKUs including:
- Organic cosmetics with anti-aging properties;
- Shampoos and conditioners; and,
- Sunscreens.
Tony Harris, Chief Executive Officer of Canutra stated: “We are
thrilled to formally announce the debut of our premium Whole Hemp
Health cosmetics line across the continental United States.
Compliant distribution south of the border has long been a pinnacle
to Canutra’s sustainable sales stratagem. Our recent acquisition by
AgraFlora, as well as the subsequent expedited nature of the
knowledge transfer process, has allowed us to access diverse
economies of scale and robust corporate resources, as made evident
by our accelerated entry into the U.S. market.
“By leveraging Covault’s tried and tested e-commerce marketing
platform, we intend to pursue hyper growth within the enormous
addressable U.S. marketplace. Canutra exclusive partnership with
Covault’s permits us unbridled access to a proprietary marketing
toolset, furnished with unique capabilities, extending far beyond
what a traditional e-commerce strategy would provide.”
Canutra plans to initiate multifaceted social media/e-commerce
influencer marketing campaigns, targeting select U.S. marketplaces
primed for mass adoption such as New York, Los Angeles and Seattle.
The Company will deploy Covault’s diverse analytical tool suite to
assist with managing and measuring a host of key consumer data
analytics.
The Company is also in the process of architecting a network of
temporary Canutra/Whole Hemp Health branded pop-up shops, further
amplifying AgraFlora’s retail footprint and brand presence in an
economical and topical manner. Luxury retailers such as Neiman
Markus, Nordstrom’s and Harrods have signaled corporate initiatives
to incorporate premium hemp-based personal skin care into their
retail strategies. Canutra plans to pursue supplier relationships
to be involved with luxury retailers in the near future.
Hemp Business Journal projects that the global hemp industry
will grow to US$1.8 billion in sales by 2020 at 22% 5-year compound
annual growth rate (“CAGR”). Personal care products, as well as
foodstuffs, including those infused with CBD, are forecasted to
lead exponential growth within the global hemp category.
Brandon Boddy, Chairman and Chief Executive Officer of AgraFlora
stated: “Canutra's diverse product offering is situated at the
nexus of the US$130-billion global cosmetics/skin care market, and
the burgeoning North American cannabinoid market. The North
American cannabis industry is forecasted to grow to US$19-billion
by 2020 and Canutra is tactically positioned to capture signature
market share.
“The combination of pharmaceutical and cosmetics expertise
affords Canutra a strategic advantage within the rapidly growing
hemp and cannabis topicals industries. The Canutra team has the
proven expertise required to design a sales strategy that can be
properly executed and is committed to bringing their trusted
product portfolio from the farm to the customer's face in a novel
and dependable fashion.”
About Covault Technologies Inc.
Covault connects brands and their resellers to simplify their
co-marketing programs. In the U.S.A. each year, roughly half of the
nearly $70 billion of co-op funding that brands offer to their
resellers goes unclaimed. Covault is the only platform that
streamlines co-marketing empowering resellers to access previously
unclaimed funds. Reaching shared consumers through digital and
traditional media, brands and their resellers gain market
analytics, increase market share and drive sales through the
Covault technology.
About AgraFlora Organics International Inc.
AgraFlora Organics International Inc. is a growth oriented and
diversified company focused on the international cannabis industry.
It owns an indoor cultivation operation in London, ON and is a
joint venture partner in Propagation Service Canada and its
large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The
Company has a successful record of creating shareholder value and
is actively pursuing other opportunities within the cannabis
industry. For more information please visit: www.agraflora.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Brandon Boddy Chairman & CEOT: (604) 682-2928
For additional information: AgraFlora Organics
International Inc. Tim McNultyE: ir@agraflora.com T: (800)
783-6056 |
For French inquiries: Remy Scalabrini, Maricom Inc.E:
rs@maricom.ca T: (888) 585-MARI |
The CSE and Information Service Provider have
not reviewed and does not accept responsibility for the accuracy or
adequacy of this release.
Forward-looking Information Cautionary
Statement
Except for statements of historic fact, this
news release contains certain "forward-looking information" within
the meaning of applicable securities law. Forward-looking
information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are
based on the opinions and estimates at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking statements
including, but not limited to delays or uncertainties with
regulatory approvals, including that of the CSE. There are
uncertainties inherent in forward-looking information, including
factors beyond the Company’s control. There are no assurances that
the business plans for AgraFlora Organics described in this news
release will come into effect on the terms or time frame described
herein. The Company undertakes no obligation to update
forward-looking information if circumstances or management's
estimates or opinions should change except as required by law. The
reader is cautioned not to place undue reliance on forward-looking
statements. Additional information identifying risks and
uncertainties that could affect financial results is contained in
the Company’s filings with Canadian securities regulators, which
are available at www.sedar.com.
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