AgraFlora Organics Provides Operational Update and Sales License Guidance at AAA Heidelberg Craft Cannabis Facility
September 24 2019 - 3:05AM
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 update and sales licensing guidance at its wholly
owned, AAA Heidelberg craft cannabis cultivation facility located
in London, Ontario:
- Activation of two flower rooms for the cultivation of
ultra-premium, craft cannabis flower;
- Completed installation of grow lights, grow tables and fans for
mother and veg rooms;
- Planned import of a portfolio of high-end cultivars under a
declaration from Health Canada;
- Anticipated inaugural harvest for Q4 2019;
- Completed interior and exterior caulking and sealing of GPP
walls and floors;
- Anticipated export permit application in Q3 2019.
AAA Heidelberg is a licensed cannabis cultivation facility under
Health Canada's Access to Cannabis for Medical Purposes Regulations
(“ACMPR”). The AAA Heidelberg facility is equipped with five
partitioned flower rooms, affording the company ample canopy
earmarked for ultra-premium craft cannabis cultivation.
Upon completion of a test harvest, as well as the associated
test crop submissions and approvals from Health Canada, AgraFlora
plans to apply for both sales and processing licences at its AAA
Heidelberg craft cannabis facility; with the objective of producing
finished cannabis form factors for domestic distribution including,
soft gels, tinctures, distillates and THC oils.
To further its vertically integrated mandate, AgraFlora is also
contemplating establishing an on-site dispensary at the AAA
Heidelberg facility, per pending Alcohol and Gaming Commission of
Ontario (“AGCO”) regulations, capitalizing on a potential 1.5
million consumer catchment area within a 90-minute radius. London,
Ontario, is Canada's 11th largest metropolitan area and is
tactically located at the nexus of Toronto, Ontario, Detroit,
Michigan and Buffalo, New York, affording the Company a lucrative
opportunity to capture a significant portion of the cannabis
tourism marketplace.
AgraFlora is also considering submitting an application under
Health Canada's Cannabis Act and Cannabis Regulations in accordance
with Subsection 11(5) of the cannabis regulations, which would
permit the Company to engage in the following value-added
activities:
- The sale and distribution of dried cannabis, fresh cannabis,
cannabis plants and cannabis plant seeds to any of the following
licence holders: micro-cultivation, standard cultivation,
processing, analytical testing, research or cannabis drug
licence;
- The sale and distribution of cannabis plants and cannabis plant
seeds to a holder of a licence for a nursery;
- The sale and distribution of cannabis plants and cannabis plant
seeds, that are cannabis products, to: a holder of a licence for
sale, or a person authorized to sell cannabis under a provincial
act by reason of Subsection 69(1) of the act;
- The sale and delivery of cannabis plants and cannabis plant
seeds, that are cannabis products, to the purchaser of the products
at the request of: a person authorized to sell cannabis under a
provincial act by reason of Subsection 69(1) of the act, or a
holder of a licence for sale.
Successful receipt of the above stated licence would allow
AgraFlora to immediately engage in business-to-business (“B2B”)
sales to its strategic partners and/or other qualified licence
holders under the Cannabis Act and accompanying Cannabis
Regulations.
Brandon Boddy, Chairman and Chief Executive Officer of AgraFlora
stated: “The activation of two flower rooms at our 100% owned and
operated AAA Heidelberg craft cannabis facility will act as a
springboard for our complementary Health Canada licensing
initiatives. The marriage of superior product formulation
capabilities, extensive CPG/branded product market entrance
experience and unique CBD/THC distribution infrastructure, will
permit continued brand loyalty for AgraFlora’s product suite, while
addressing priority medical conditions within the domestic cannabis
theatre and beyond.”
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 is also retrofitting a 51,500-square-foot good
manufacturing practice (“GMP”) edibles manufacturing facility in
Winnipeg, Manitoba. AgraFlora 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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