AgraFlora Organics Provides Corporate Update
30 Abril 2020 - 4:00PM
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 closed a
non-brokered private placement of 266,666,667 units (each a
“
Unit”) of the Company at a price of $0.075 per
Unit for gross proceeds of $20,000,000.
Each Unit shall consist of one (1) common share
(each a “Share”) and one (1) transferable Share
purchase warrant (each a “Warrant”). Each
Warrant entitles the holder thereof to purchase one (1) additional
Share of the Company for a period of five year from closing at a
price of $0.10 per Share.
Furthermore, the Company will proceed with the
issuance of an additional 2,692,905 Shares at a deemed value of
$0.075 per Share to certain creditors for past consulting and other
services provided to the Company for settlement of $201,967.87 in
debt.
The Company announces that Brandon Boddy has
been appointed as Corporate Secretary of the Company, effective
April 24, 2020. To facilitate this change, Jan Urata has stepped
down as Corporate Secretary. The Company wishes to thank Ms.
Urata for her contribution to the Company.
Additionally, the Company has granted incentive
stock options to purchase a total of 95 million Shares with an
exercise price of $0.075 per Share for a period of five years from
issuance to certain directors, officers and consultants, in
accordance with the provisions of its stock option plan.
All securities issued will be subject to a
statutory four month hold period, in accordance with applicable
securities laws. A finder’s fee is applicable on this
transaction.
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 & Corporate
SecretaryT: (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.caT: (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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