VANCOUVER, Jan. 7, 2019 /CNW/ - AgraFlora Organics
International Inc. (formerly PUF Ventures Inc.) ("AgraFlora Organics" or the "Company")
(CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis
company, is pleased to announce that it has engaged good manufacturing practices (GMP) facility experts to design post
production exports for the European Union (EU) in preparation for the first crop of cannabis to be planted at its the large-scale
Delta Greenhouse Complex later this year. The Company has also initiated discussions regarding supply agreements and product
development partnerships with several European Union based pharma companies.
"I am very pleased to announce we have engaged European GMP facility experts to design post production products for export
markets," said Derek Ivany, President and CEO, AgraFlora Organics International Inc. "The first
250,000 square feet of cultivation space at Propagation Services Canada's Delta Greenhouse Complex will be coming online in
mid-2019 and it is important that we have multiple sales avenues for our final product. We have taken steps to establish our
domestic distribution network and have initiated discussions with multiple pharma companies based in the European Union to
establish an export market. We expect to make an further announcement regarding domestic and export supply and product
development agreements in the first half of 2019."
AgraFlora's management team is actively establishing a customer base for its medical cannabis flower and propagating plants
including the recently announced medical cannabis supply agreement with Namaste Technologies and propagation plant supply
agreement with Cabbay Holdings Corp.
The European Union represents a significant opportunity for AgraFlora as it is home to more than 500 million people, a
population significantly larger than the combined population of the United States and Canada—the
two largest cannabis markets in the world today. The legalization of medical and recreational cannabis is gaining traction across
Europe including Germany, one of the fastest-growing medical
cannabis marketplaces in the world.
Propagation Services Canada is a joint venture company in the process of retrofitting a large-scale greenhouse complex in
Delta, BC. The fully funded retrofit of the 2,200,000 square foot complex is to be completed in
three phases:
- Phase 1 includes the retrofit of 350,000 square feet, including 100,000 post-production facilities, completion scheduled
for Q2 2019;
- Phase 2 includes an additional 1,450,000 square feet to be completed by Q4 2019;
- Phase 3 consists of 400,000 square feet scheduled for completion in Q2 2020.
The Delta greenhouse complex includes advanced growing systems for greenhouse HVAC, watering
and lighting. It includes it own natural gas co-gen energy plant which provides cost effective electricity for lighting and
heating of the large-scale greenhouse. The result is a highly efficient and one the most cost-effective growing operation in the
industry.
About AgraFlora Organics International Inc.
AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis
industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner
in Propagation Service Canada and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta,
BC. The Company has a successful record of creating shareholder value and is actively pursuing other opportunities within
the cannabis industry. For more information please visit: www.agraflora.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Derek Ivany
President & CEO
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or
accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and
statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or
management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions,
by their very nature, they involve inherent risks and uncertainties.
SOURCE AgraFlora Organics International Inc.
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