AgraFlora Organics Prepares for October 17th Health Canada Regulations with Vertically Integrated Edibles Infrastructure, To ...
October 03 2019 - 3:01AM
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 the Company’s wholly-owned subsidiary,
Canutra Naturals Ltd., in conjunction with the Université de
Moncton (“UM”) continues to achieve material advancements
pertaining to the genetic-engineering and phenotyping of a
portfolio of high-CBD cannabis varietals at its flagship 76-acre
campus in Kent County, New Brunswick.
Canutra holds a cannabis research licence from Health Canada
under the Cannabis Regulations Act, which permits the development
of proprietary cannabis genetics and phenotypes. Upon achievement
of required ancillary licenses, as well as regulatory guidance,
AgraFlora plans to commercialize its proprietary, CBD-rich strains
as formulation/base inputs at its state-of-the art 51,500 square
foot edibles manufacturing facility in Winnipeg, Manitoba (the
“Winnipeg Edibles Facility”)
(https://ediblesandinfusions.com/).
AgraFlora will also leverage advanced extraction methodologies,
developed throughout its continued intellectual property (“IP”)
aggregation campaign to supplement internal SOPs, as well as
process flows at its Winnipeg Edibles Facility; further reinforcing
the Company’s vertical integration and knowledge transfer
mandates.
The Winnipeg Edibles Facility totalling 51,500 square feet is
equipped with over 30,000 square feet of dedicated edibles
production space, as well as an 8,000 square foot
pharmaceutical-grade, edibles research laboratory. Once activated,
the Winnipeg Edibles Facility will be operated by a roster of third
generation chocolatiers/confectioners and will boast
state-of-the-art manufacturing equipment capable of producing an
assortment of both cannabinoid/terpene-infused products for
medicinal, functional and adult use, including:
- Gummies, hard candy, and gums;
- Baked goods;
- Flavoured tinctures;
- Gourmet snacks, including cannabis-infused honey, maple syrup,
sugar and fruit, and vegetable puree-based snacks; and,
- CBD-infused pet products.
AgraFlora continues to adhere to previously announced Winnipeg
Edibles Facility infrastructure upgrade timelines and expects to
submit applications to Health Canada for standard processing and
sales licences on October 17, 2019. AgraFlora continues to
participate in provincial edibles product calls, as well as other
mandated provincial edibles, topicals and concentrates procurement
activities. The Company anticipates that the Winnipeg Edibles
Facility will be fully operational by the first quarter of
2020.
The Company has submitted its application to Health Canada for a
corresponding cannabis research and development licence at its
Winnipeg Edibles Facility, with anticipated award of said license
within the next 30 days. Receipt of full-spectrum cannabinoid
concentrates is expected post licensing to assist with product
development and ancillary research and development activities.
Pharmaceutical-grade equipment for the Winnipeg Edibles Facility’s,
research and development laboratory has been shipped from the
manufacturer and is expected to arrive on site within the next 15
business days.
AgraFlora is also pleased to reaffirm the following operational
updates and licencing guidance relating to the Winnipeg Edibles
Facility:
- All applicable cooking, depositing, packaging and lab equipment
has been identified and ordered:• Once completed, the facility will
be turnkey in nature and boast complete automation, from the time
inputs arrive in tankers to the time finished products are
shipped;
- Product and packaging has been designed with capability to
package child resistant re-sealable bags, bottles, droppers and
tubes;
- Security system designed and ordered for install in the next 60
days; and,
- Anticipated licence application and submission of its
affirmation of readiness and video evidence package to Health
Canada by December 2019.
Brandon Boddy, Chairman and Chief Executive Officer of
AgraFlora, stated: “Unparalleled corporate foresight, coupled with
the dedicated deployment of capital into accretive assets, such as
the Winnipeg Edibles Facility, has positioned AgraFlora to
materialize as a market leader within the landscape of cannabis
2.0. Our robust, downstream asset portfolio, highlighted by marquee
operations within the edibles and topicals industries, has levered
us to capture geometric upside from Health Canada’s impending
October 17th regulations. Our ability to capitalize on material
revenues from upstream cultivation to downstream product
formulation, manufacturing, extraction and end-retail distribution
will become a significant differentiator among our Tier 1 industry
peers.
"We are of the opinion that, once complete, our Winnipeg Edibles
Facility will emerge as the most efficient and technologically
advanced edibles manufacturing facility on the planet. Once again
demonstrated by the planned commercialization of our proprietary,
CBD-rich strains as base inputs at our Winnipeg Edibles Facility-
AgraFlora’s successful implementation of full vertical integration
will support increased efficiency across business channels and
allow for maximum economic margin capture for the enterprise.”
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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