REPEAT - AgraFlora Organics Provides Final Licensing Guidance and Operational Update At 2.2M Sq./Ft. Delta Greenhouse Complex...
September 09 2019 - 8:00AM
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 provide the following
licensing guidance and operational updates pertaining to the
Company’s 2,200,000 square foot Delta Greenhouse Complex:
- Completion of perimeter security fencing;
- Installation of comprehensive surveillance and anti-intrusion
systems, as well as access control infrastructure supported by
servers and sustained by independent, backup generators;
- Completion of Post Harvest zones including dry rooms, trim
room, secure storage and packaging facilities;
- Retrofitting of garment hygiene rooms, security/administration
offices, as well as staff amenities;
- Installation of state-of-the-art air exchange system equipped
with climate and odour controls;
- Full roof vent insect netting installation for crop
protection;
- Supplemental light output upgrades and the furnishing of light
deprivation screens;
- Installation of irrigation buffer tanks, mixing stations, and
distribution system;
- Retrofit and upgrade of Argus® Titan climate control
system;
- Completed grow room divisions for climate and hygiene
isolation; and,
- Successful submission of its affirmation of readiness and video
evidence package (the “Evidence Package”) to Health Canada for its
Phase 1 build-out.
- Evidence Package submission is the final measure required in
order to demonstrate and confirm to Health Canada that the Delta
Greenhouse Complex is fully built, operationally ready and in
compliance with the Cannabis Act and Cannabis Regulations, prior to
being issued its standard cultivation licence.
The Company’s Phase 1 retrofit of its flagship Delta Greenhouse
Complex is comprised of approximately 431,000 square feet of
cultivation/processing expanse, including over 130,000 square feet
of net flower canopy and is estimated to produce 15,000,000 million
grams of premium cannabis annually. With the completion PSC’s Phase
1 retrofit, the Company's current annual projected output of dried
flower is approximately 160,000 kg including 2020 forecasted
production at its purpose built AAA Heidelberg craft cannabis
cultivation facility. In addition, AgraFlora anticipates the
successful recapture of over 1,000,000 grams of premium cannabis
trim to be manufactured into ancillary value-added cannabis
products on an annualized basis.
AgraFlora worked with experienced security and licensing
consultants at 3|Sixty Secure to obtain consulting services and
produce the attestation package for the license application.
3|Sixty’s consultants are industry experts who have worked directly
with more than 60 per cent of Canadian LPs and ensure their
clients’ attestation packages meet the highest standards
possible.
Brandon Boddy, Chairman and Chief Executive Officer of AgraFlora
stated: “The successful submission of our Evidence Package to
Health Canada is a momentous milestone in AgraFlora’s evolution
towards the cultivation of premium, genetically characterized
cannabis under 2.2 million square feet of glass at our world-class
Delta Greenhouse Complex. Based on the most recent timelines from
Health Canada, AgraFlora anticipates the award of a standard
cultivation license within six to eight weeks.
Many thanks to the high functioning and multifaceted Houweling’s
team for their commitment to this JV; consistently achieving
mission critical, project level deliverables under budget and ahead
of schedule.
The award of standard cultivation license from Health Canada at
our Delta facility will signal to the marketplace that AgraFlora is
primed to realize considerable cash flows from a top tier cannabis
cultivation and processing hub. Through astute engineering and
planning, our bellwether Delta facility will support the expansion
of capacity while maintaining its full operational capabilities
throughout Phase 2 and 3 of our planned retrofit.”
AgraFlora projects that Phase 1 of the Delta Greenhouse Complex
retrofit will be completed on or before October 31st, 2019 and upon
receipt of a standard cultivation license, in accordance with the
Cannabis Act and Regulations, expects to immediately import a
portfolio of high-end cultivars under a declaration from Health
Canada. As a result of extensive deliberations with PSC and its
industry consultants, the Company's internal forecasts indicate
that the inaugural harvest at its Delta Greenhouse Complex will
occur within the first quarter of 2020.
Concurrent to AgraFlora’s inaugural harvest, the Company plans
to initiate Phase 2 of the Delta Greenhouse Complex retrofit in
December of 2019, which will include:
- 10 flower rooms with over 1,000,000 square feet of canopy;
and,
- 40,000 square feet of post harvest/processing space.
Ruben Houweling, General Manager of PSC stated: “The Phase 1
retrofit of the Delta Greenhouse Complex and resulting submission
of our Evidence Package to Health Canada was a exercise of expert
execution in project management, cost analysis and agricultural
innovation; culminating in over 160 skilled trade workers on site
working in parallel paths to create one of the most advanced hybrid
cannabis cultivation facilities in Canada, if not the world.
With the anticipated award of our standard cultivation license
just weeks away and the commencement of Phase 2’s retrofit
scheduled for December 2020- material levels of production are
imminent”.
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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