VANCOUVER, British Columbia, April 03, 2020 (GLOBE NEWSWIRE) — 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 its key asset, Propagation Services Canada (the “Delta Facility”) has completed additional steps in the process to obtain a license to cultivate cannabis from Health Canada and confirms its commitment to deliver the cultivation license at the Delta Facility prior to the end of Q2 2020, barring any material change in Health Canada’s service standards as a result of prevailing socioeconomic conditions.
On April 3rd 2020, the Delta Facility submitted responses to the third request for more information (the “RMI”) from Health Canada with respect to its cultivation application. The information submitted pursuant to the third RMI was submitted to clarify information previously submitted to Health Canada on February 28, 2020.
AgraFlora believes that the Company has taken the last major step towards licensing, having submitted robust responses to Health Canada’s requests in February and now again in March. Preparations have commenced to start cultivating once the license is obtained, including completing our genetics transaction to pursue our high-potency, low-cost product strategy.
Furthermore, AgraFlora would like to applaud Health Canada and its individual employees for maintaining licensing operations as we all navigate the challenges created by the COVID-19 crisis. While there is no guarantee as to the timing of the license grant, or if there will not be any further requests for additional information, based on available information the Company believes it has submitted all required information.
About AgraFlora Organics International Inc.
AgraFlora Organics International Inc. is a leading cannabis company building shareholder value through the development of revenue generating operating assets in the global cannabis industry. AgraFlora is focused primarily on the Canadian cannabis industry; the world’s most advanced and regulated legal cannabis market. Flagship Canadian assets include: Edibles & Infusions, a fully automated manufacturing facility in Winnipeg, MB for white-label and consumer branded edible production; Propagation Services Canada, a large-scale commercial greenhouse in Delta, BC focused on reshaping the Canadian flower market with high-potency, low cost cannabis flower, and AAA Heidelberg, a craft focused cannabis producer in London, ON. In addition, AgraFlora’s wholly owned subsidiary Farmako GmbH is scaling towards its goal of being Europe’s leading distributor of medical cannabis. Farmako currently has active distribution operations in Germany and expects to commence active operations in the United Kingdom in 2020. For more information please visit: https://agraflora.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
Brandon Boddy
Chairman & CEO
T: (604) 398-3147
| For additional information: | |
| AgraFlora Organics International Inc. Tim McNulty E: [email protected] T: (800) 783-6056 |
For French inquiries: Remy Scalabrini, Maricom Inc. E: [email protected] T: (888) 585-MARI |
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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.
