AgraFlora Organics To Develop Terpene-Infused Over-the-Counter CBD Alternative at New Brunswick Cannabis Campus
October 24 2019 - 3:05AM
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
has initiated development of Cannessence, a terpene-infused,
organic cannabis sativa seed oil consumer packaged good
(“CPG”). AgraFlora will position Cannessence within the marketplace
as a legal, over-the-counter (“OTC”) substitute to conventional
CBD.
Cannessence will have a unique formulated terpene profile
coupled with organic cannabis sativa seed oil to amplify the
activation of the endocannabinoid system (the “ECS”); thus
optimizing cannabinoid uptake, as well as standardizing
pharmacological effects within the ECS of both humans and pets. The
Company anticipates that it will market its Cannessence product
portfolio in capsule, topical and tincture format.
The Company also plans to incorporate its proprietary
Cannessence formulation as a base serum into its existing Whole
Hemp Health (“WHH”) product line. This scalable integration will
further augment its vertically integrated “farm-to-face” mandate
while increasing the efficiency of the Company’s existing premium
WHH SKUs. An ultra-premium all-natural, skin care line, WHH is
formulated with 100 per-cent organic cannabis sativa seed
oil and is marketed by way of brick-and-mortar retail outlets,
Amazon Prime, as well as direct to consumer, through an integrated
Shopify e-commerce platform.
The initial synthesis of Cannessence will be championed by
AgraFlora’s cannabinoid R&D consultancy arm in conjunction with
the Université de Moncton (“UM”) and will be comprised of the
following initial deliverables:
- Cannabinoid extraction and essential oil recovery;
- Purification stage for the separation of fats and lipids, or
other modifications deemed necessary; and,
- A mixing/emulsification stage with the objective of formulating
a unique matrix.
AgraFlora plans to pursue secure national listings of its
Cannessence product portfolio through prominent, high-traffic
distribution channels including: c-store, pharmacies, naturopathic
clinics, salons/spas, as well as health and wellness retailers. The
Company will also integrate Cannessence in its 17,500 North
American points of distribution.
The Company will leverage its 76-acres riverfront Kent County,
New Brunswick cannabis campus (the “Cannabis Campus”) and its
cannabis research licence from Health Canada under the Cannabis
Regulations Act to formulate/synthesize its revolutionary
Cannessence product suite. AgraFlora’s Cannabis 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.
AgraFlora also announces the commencement of a retrofit to seven
of the non-core operating buildings at its Cannabis Campus. The
retrofit is projected to be completed concurrent to AgraFlora’s
2020 industrial hemp plating initiatives and will include:
- Structural restorations;
- Water system restoration;
- Ventilation system maintenance; and
- Additional processing/laboratory/storage area preparation.
Brandon Boddy, Chairman and Chief Executive Officer of AgraFlora
stated: “The formulation of an over-the-counter CBD alternative
that boasts measurable efficacy, as well as therapeutic-grade
terpene blends will further differentiate AgraFlora within an
increasingly competitive dried flower marketplace. By way of our
precisely formulated Cannessence terpene profile and complementary
omega compounds, we intend to optimize the function of the ECS in
human and pets alike through the activation of one of its main
receptors- thus magnifying cannabinoid uptake and promoting organic
endocannabinoids production.
Cannessence has all the hallmarks of a disruptive Cannabis 2.0
SKU that we plan to introduce across Gateway Newstand’s 200 plus
locations. Our Cannessence formulation will harness power of
terpenes, coupled with all-natural essential oils including
limonene, alpha-pinene, beta-caryophyllene, linalool, and
beta-myrcene to afford our consumers a safe, non-prescriptive
alternative to conventional CBD products.”
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 Services 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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