News out this morning. AgraFlora Organics Expects to Enter Edibles Market in Q1
VANCOUVER, British Columbia, Jan. 13, 2021 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“ AgraFlora ” or the “ Company ”) ( CSE: AGRA ) (Frankfurt: PU31 ) (OTCPK: AGFAF) is pleased to provide an update on the Company’s entrance to the edibles market with the completion of the first phase of R&D trials at its Health Canada licensed 51,000-Square-foot fully-automated edibles manufacturing facility in Winnipeg, Manitoba (the “ Edibles Facility ”).
Prior to receiving a standard processing license from Health Canada, AGRA commenced ( See press release dated August 27, 2020 ) cultivating long-term production relationships through Research and Development (“ R&D ”) trials utilizing the Company’s Health Canada R&D license. The development phase of the R&D trials is now complete and the company has created efficient processes for desired formulations and product varieties and expects to enter the edibles market in Q1 of 2021.
James Fletcher, EIC Co-Founder and Operational Manager stated, “Supply contracts continue to move forward with our Licensed Producer relationships, and we are confident that our gummies with consistent and flavourful variants will soon dominate the gummies category. Our family’s 97 years of confectionary experience provides us a solid culture of quality, craftmanship and efficiency to offer a variety of infused gummy products to multiple LP clients at a time.”
“The Company believes that their infused cannabis activated pectin and gelatin gummies variants are well timed given the strength of demand for consistent, quality and tasty gummy products. A recent OCS report showed the gummy category carried the highest market share in the edibles segment compared to chocolate and brownie alternatives at 65% with demand expected to continue to rise.” Commented the Agraflora Board of Directors.
The Edibles Facility will utilize its current state of the art laboratory set up to produce approximately 60,000 pieces per eight-hour shift and can manage a variety of brands at once given the efficient nature of the automated production line. The facility’s equipment and design allow EIC to easily pivot and provide specific dosing and custom gummies that meet regulatory requirements and customer specifications. These efficiencies also allow AgraFlora to produce saleable products at a lower cost.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cc28b45a-f278-49c6-bcee-8871beafcb4a