VANCOUVER, British Columbia, Aug. 24, 2020 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to provide an update on the progress of cultivation at Propagation Services Canada Inc., the Company’s flagship cultivation asset located in Delta, British Columbia (the “Delta Facility” or “PSC”) which commenced cultivation using a curated portfolio of live-plant genetics (the “Elite Genetics”) in June 2020 (See Press release dated June 15, 2020).
The Delta Facility expects to move to first harvest by early Q4 with first product available for sale of low-cost high potency cannabis strains expected in Q1 2021 on a wholesale basis.
The Elite Genetics at the Delta Facility have been tailored to go to work with PSC’s infrastructure and cultivation program and are expected to yield up to 44 varieties of strains to offer the Company’s wholesale clients a robust product offering while maintaining strong cannabinoid and terpene content plant yield and crops per year.
“The team has been doing a great transition from Tomato cultivation to Cannabis,” stated Ruben Houweling, General Manager of Houweling Nurseries. “Our preparation has paid off and we have had great results this summer in plant health and scale up. We are getting ready to start our first flowering cycles this fall.”
About the Delta Facility
The Delta Greenhouse is scalable, providing up to 2,200,000 sq. ft. of cannabis cultivation. Phase 1 of the cultivation strategy includes 422,828 sq. ft. of growing space utilizing a state-of-the-art pressurized, semi-open Venlo greenhouse design considered to be one of the most technically advanced and environmentally friendly greenhouse platforms in North America and is located in a unique agricultural micro-climate on the shores of the Pacific. Key features of the Delta Greenhouse include:
- Fully integrated on-site natural-gas-powered power plant;
- Advanced climate and humidity control management infrastructure;
- Proprietary energy-efficient air exchange to maintain stable climate conditions at a fraction of the cost of traditional HVAC systems;
- Ebb-and-flow watering systems to enhance complete irrigation recapture and water treatment;
- Multistage supplemental lighting augmented by natural sunlight to foster optimized illumination equilibrium; and
- A proprietary ERP system to allow for efficient resource management and cost tracking.
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/.
About Propagation Services Canada
Propagation Services Canada is a joint-venture formed between AgraFlora and the Houwelings Group, one of North America’s leading producers and innovators in the greenhouse vegetable production industry. For three generations, Houwelings has been championing innovation in North American vegetable production, holding multiple patents and developing large-scale commercial greenhouses in British Colombia, California and Utah. The Houwelings Group was the first in the USA to utilize combined heat and power co-generation, and the first to develop a proprietary sealed growing technology. Through the JV, Propagation Services Canada will operate an automated greenhouse facility with an expandable footprint of up to 2,200,000 sq. ft. Propagation Services Canada is expected to commence cannabis operations and revenue in 2020 with a focus on producing high-potency cannabis at the lowest possible cost to drive margin growth and profitability.
ON BEHALF OF THE BOARD OF DIRECTORS
Brandon Boddy
Chairman & CEO
T: (604) 398-3147
| For additional information: | For French inquiries: |
| AgraFlora Organics International Inc. | Maricom Inc. |
| Nicholas Konkin | Remy Scalabrini |
| E: ir@agraflora.com | E: rs@maricom.ca |
| T: (800) 783-6056 | 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.
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