AgraFlora’s 2.2 Million Square Foot Delta Facility Now Fully Funded
March 25 2019 - 3:49PM
AgraFlora Organics International Inc. ("AgraFlora" or the
"Company") (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF) announced
earlier today that it has closed the final two tranches of its $40
million equity participation and earn-in agreement with Delta
Organic Cannabis Corp. Investors have been eagerly awaiting the
completion of this deal, not only because it represents a landmark
achievement for the Company, but also because it means that the
Company’s 2.2 million square foot greenhouse facility in Delta, BC,
is now officially, and entirely, funded.
AgraFlora owns an effective 50-per-cent economic interest in the
Delta, BC greenhouse project that is currently the second largest
built cannabis facility in Canada, and the Company is presently in
the process of finishing the first phase of retrofitting operations
on it. This first phase will include the full preparation of
350,000 square feet of cultivation and post-processing space, and
the Company is aiming to have this phase completed by the summer of
2019. The remainder of the greenhouse space will be retrofitted in
two subsequent phases, the final of which is scheduled to be
completed at the start of 2020.
Beyond simply the finalization of this deal, the completion of
this funding means several things for AgraFlora. For one, the
Company can now focus its attention and resources on some of the
new opportunities it has been pursuing over the last year. For
example, AgraFlora announced just last week that it is in a due
diligence process with Dixie Brands Inc., an organization whose
cannabis-infused products are in high demand throughout the United
States. The two companies are investigating how they might partner
in penetrating the growing cannabis market in the European Union.
AgraFlora has also recently executed a letter of intent with Blox
Labs Inc. so that the two might join forces in managing and
operating state-of-the-art agricultural greenhouse facilities, and
several months ago the Company related to investors that it had, in
partnership with Relay Medical Corp, formed Glow Life Technologies,
an organization focused on pursuing medical-related technology
opportunities in the global cannabis space.
Secondly, the finalization of this deal means that investors can
be increasingly confident in the assertion that AgraFlora is on
track to potentially become one of the mainstay players in the
Canadian cannabis space in terms of its cannabis production
capacity. With the completion of all three retrofitting phases at
the Delta facility, AgraFlora estimates that, as of 2020, it will
be capable of growing 250,000,000 grams of high quality cannabis
every single year. Based on the landscape of the current Canadian
marketplace, this would make the Delta operation the fourth largest
grower in the country on a per gram basis. Despite this, AgraFlora,
although not as advanced in terms of the business cycle, persists
in having a market capitalization much lower than that of its
competitors. For example, as of the time of this release, AgraFlora
has a market capitalization of $278,842,211. Tilray Inc., an
organization with an estimated 2020 growing capacity 25,000,000
grams lower than that of AgraFlora’s, has a current market
capitalization of $6,626,789,577. This same phenomenon exists in
the case of Aphria. Aphria has an estimated 2020 growing capacity
just two percent greater than that of AgraFlora’s, but they have a
current market capitalization that is more than eleven times higher
at $3,233,949,098. While production capacity is certainly not the
only measure of a company’s potential within the cannabis space, it
does play a vital role in an organizations ability to meet the
demands of its investors and clients.
AgraFlora now has the infrastructure and the financing they need
in order to confidently move towards their goal of being one of the
biggest cannabis producers in Canada, and with their multiple new
opportunities with companies like Dixie, Blox, and Relay, they are
well positioned to become a force within the global cannabis space
as well.
About AgraFlora Organics International Inc.
AgraFlora is a growth-oriented and diversified company focused
on the international cannabis industry. It owns an indoor
cultivation operation in London, Ont., and is a joint venture
partner in Propagation Service Canada and its large-scale
2.2-million-square-foot greenhouse complex in Delta, B.C. The
company has a successful record of creating shareholder value and
is actively pursuing other opportunities within the cannabis
industry.
Global Objective Marketing
Do you want the same kind of exposure that AgraFlora is
receiving here? Contact Global Objective Marketing and we will
produce professionally written press release content for your
business and distribute it to any market that you wish to reach.
For more information, please visit
https://www.globalobjectivemarketing.com/.
This piece was written and distributed by Global Objective
Marketing (GOM). All of the information contained within was
produced using publicly available information and any opinions
about individuals, companies or industries expressed within this
release belong solely to GOM. The opinions expressed by GOM should
not be considered as complete, accurate, or current investment
advice. Any investment decisions made by readers are theirs and
theirs alone. To ensure that you are making investment decisions
that serve your own best interests, we recommend that you utilize
the services of a professional financial planner or advisor. In
order to comply with Section 17(b) of the 1933 Securities Act, GOM
discloses that it was paid a sum of fifteen hundred dollars CAD to
write this content for AgraFlora.
For additional information:
AgraFlora Organics International Inc.
E: ir@agraflora.com
T: (800) 783-6056
Agra Ventures (CSE:AGRA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Agra Ventures (CSE:AGRA)
Historical Stock Chart
From Jul 2023 to Jul 2024