AgraFlora Applauds Former Portfolio Company Natures Hemp’s Acquisition of Holy Crap Breakfast Cereal; Strengthens Brand Pre...
August 27 2019 - 2:35PM
AgraFlora Organics International
Inc. (“
AgraFlora” or the
“
Company”) (
CSE: AGRA) (Frankfurt:
PU31) (OTCPK: AGFAF), a growth oriented and
diversified international cannabis company, is pleased to
announce that Natures Hemp Corp (“NHC”), a former portfolio company
which was spun out to shareholders of AGRA in August of 2018, has
acquired 100% of the assets of HapiFoods Group Inc., the founder of
Holy Crap breakfast cereal. As seen on the CBC’s original hit
series “Dragon’s Den”, Holy Crap offers four distinct SKU’s all of
which contain certified organic, non-GMO, kosher and gluten free
ingredients such as hemp seed, buckwheat, chia seeds, and
gluten-free oats.
Since its establishment in 2009, Holy Crap
cereal has gained favour with health conscious consumers by
delivering a variety of great tasting functional food
offerings. Historically, Holy Crap products have garnered
shelf space in as many as 2,500 stores across Canada at retail
outlets such as Whole Foods, London Drugs, IGA, Save-On Foods,
Urban Fare, Capers, and Stong’s Market. At its zenith, Holy
Crap achieved sales of over $5,000,000 CDN per annum.
“We are very excited to acquire such a reputable
brand in the functional health food industry,” stated Derek Ivany,
Chief Executive Officer of Natures Hemp Corp. “According to a
recent report by Zion Market Research, the global hemp-based food
market is forecast to generate approximately $4.89 Billion by
2026. With a move towards more health focused food choices
amongst consumers across all demographic spectrums, the utilization
of hemp as a food product has gained popularity as it is rich in
protein, vitamins, and minerals, such as gamma-linolenic acid
(“GLA”), omega-3 and omega-6. We believe that the growth
possibilities for Holy Crap are tremendous and Natures Hemp will be
embarking on various unique initiatives to further develop the
brand and business, increase market share, and capture various
synergies across our network in the global hemp and cannabis
sector.”
Brandon Boddy, Chairman and CEO of AgraFlora
stated, “As a former portfolio company of AgraFlora, we are
very pleased to see Natures Hemp succeeding in their mandate in the
hemp functional food sector. Their advancement is a testament
to the continued value creation under the AgraFlora banner and we
are eager to further assess both upstream and downstream synergies
across our platform companies in order to capture additional
opportunities and efficiencies.”
Natures Hemp Corp was spun out of AgraFlora
Organics International Inc. in August of 2018 and is led by former
AgraFlora President and Director, Derek Ivany. In addition to
the recent acquisition of Holy Crap, Natures Hemp has been
developing a healthy alternative non-dairy coffee creamer, which is
made using whole hemp seeds. The Company plans on making an
application to list its common shares on the Canadian Securities
Exchange during Q4 of 2019.
About Natures Hemp Corp.Natures
Hemp Corp. is a biotechnology and consumer products corporation
focused on unlocking the true value of hemp and developing a new
generation of plant-based, nutrient rich cannabidiol (“CBD”) food,
beverage and healthcare related products. It is establishing its
own farms to produce high quality organic hemp plants and using a
proprietary extraction technology to produce legal hemp fibers and
CBD extract. It is also launching a premium brand of quality CBD
products with an emphasis on health and wellness.
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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