VANCOUVER, British Columbia, Nov. 25, 2020 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that it has acquired High Performance Liquid Chromatography (“HPLC”) equipment for AgraFlora’s 51,000-Square-foot fully-automated edibles manufacturing facility in Winnipeg, Manitoba (the “Edibles Facility”).
The addition of an Agilent HPLC driven analytical testing platform at the Edibles Facility will allow AgraFlora to rapidly develop and launch new edibles products which have been formulated from the Company’s previously announced (See press release dated August 27, 2020) Research and Development (“R&D”) trials through the Company’s Health Canada R&D license.
James Fletcher, EIC Co-Founder and Operational Manager stated, "Implementing this suite of HPLC analytical equipment into our production strategy will reduce our 3rd party product testing costs, while improving product safety and quality by allowing us to continuously monitor edible production to ensure quality standards are being met. This should also greatly improve our speed to market with unique SKU’s and allow us to offer some of the most price competitive products in the market.”
The Agilent analytical platform will also allow for the Edibles Facility to expand its in-house capability to support future cannabis oil extraction. AgraFlora remains confident that the Company will receive Standard Processing License from Health Canada in Q4 of 2020.
The Company acquired the HPLC equipment in consideration for the issuance of 10,000,000 common shares in the capital of the Company at a deemed value of $0.03 per share.
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 Edibles and Infusions Corporation
Edibles and Infusions Corporation is a joint venture formed between AgraFlora and one of North America’s leading confectionary manufacturing families. The Joint Venture partner is one of Canada’s oldest confectionary companies with over 100 years of active operations, and currently supplies confectionary and candy to over 20,000 locations throughout North America. Edibles and Infusions is constructing a purpose built, highly automated facility located in Winnipeg, MB. The facility employs state-of-the-art manufacturing equipment to produce pharmaceutical-grade quality cannabis edibles with a precise level of consistency for improved dosing accuracy, consistent consumer experiences and increased consumer safety. Edibles and Infusions is one of a small group of Canadian companies to successfully obtain a Research and Development License from Health Canada for edibles formulation testing and expects to commence fully-licensed manufacturing operations in 2020.
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.