REPEAT - AgraFlora Organics Awarded Cannabis Research License from Health Canada
September 18 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 announce the
Company’s wholly owned subsidiary, Canutra Naturals Ltd.
(“Canutra”), has been awarded a cannabis research licence (the
“Research License”) by Health Canada under the Cannabis Regulations
Act. The Research License permits Canutra to pursue the development
of proprietary cannabis genetics and phenotypes at its flagship
76-acre campus in Kent County, New Brunswick.
In conjunction with the Canutra’s existing cannabis research and
development partnership with the Université de Moncton (“UM”),
the company will leverage its recently awarded Research License to
augment its portfolio of unique cannabis genetics and phenotypes.
Canutra intends to utilize its proprietary cannabis genetics and
phenotypes as base-inputs for its suite of premium,
cannabinoid-infused cosmetics, which are presently marketed across
North America, the People's Republic of China and the Hong Kong
Special Administrative Region.
Canutra continues to demonstrate its leadership with regards to
cannabis-derived CPGs, due to its Health Canada awarded Research
License and continued collaboration with UM. The company also
continues to achieve material advancements throughout its IP
development and aggregation initiatives, including:
- High CBD hemp cultivation techniques;
- Advanced extraction methodologies;
- Cultivar development;
- Inoculation formulations; and
- Proprietary cannabinoid profiles for future skin care product
lines.
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 New Brunswick facility. Canutra
owns and operates 76 acres of unzoned, arid agricultural land,
including 1,000 feet of river frontage.
The New Brunswick campus, 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 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-per-cent-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.
Tony Harris, Chief Executive Officer of Canutra stated: “We are
thrilled to formally announce our research program to develop
unique and patentable cannabis genetics and phenotypes to be used
in the creation of functional cosmetics and proprietary skincare
formulas. Development of proprietary base-inputs derived from
custom cannabis plants and refined into a unique cannabinoid
formula, augments our already top tier Whole Hemp Health line of
products, and will serve to ensure the continued growth of our
products and shelf space and stay ahead of the pack in terms of
quality and functionality.
By leveraging our R&D team’s ability to create and perfect
unique cannabinoid combinations focused on skincare functionality,
we intend to become the leader of cosmetic cannabis technology in
Canada and the world.”
Brandon Boddy, Chairman and Chief Executive Officer of AgraFlora
stated: “Canutra's plan to create unique and functional farm to
face skincare product offerings is sure to boost an already
exponentially expanding sector. 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 research space and industries. We are most
confident the Canutra team with be able to develop world class
products that will excite even the most demanding of
consumers.”
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) 398-3147
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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