VANCOUVER, April 9, 2019 /CNW/ - AgraFlora Organics
International Inc. ("AgraFlora" or the "Company") (CSE: AGRA) (Frankfurt: PU31) (OTCPK:
PUFXF), a growth oriented and diversified international cannabis company, and ICC International Cannabis Corp. (CSE:
WRLD.U)(FWB: 8K51)(OTC: WLDCF) ("ICC" or "International Cannabis"), have entered into an agreement whereby AgraFlora
will transfer its portfolio of exotic, native Colombian cannabis genetics to ICC for international marketing and distribution
purposes.
"This partnership further equips International Cannabis with the ability to provide highly coveted Colombian cannabis flower
to its global distribution network of approximately 39,000 pharmacies and retail outlets," said Eugene
Beukman, Chief Executive Officer and a Director of International Cannabis. "The transfer of these native Colombian strains
will also allow for the continued differentiation of the International Cannabis brand in an increasingly generic and homogenized
market."
"Pure Grow has assembled a unique genetic library of cannabis native to Colombia which we
believe is poised to become a valuable asset for our company," said Derek Ivany, President &
CEO, AgraFlora Organics International Inc. "With the aim of maximizing the value of our genetics portfolio, we have confidence in
our new partnership with ICC as they have built an extensive infrastructure across the value chain in the international cannabis
marketplace. Their vast international presence consists of distribution networks and various licenses in multiple
jurisdictions that will assist in introducing our genetics library to the marketplace."
In May 2018, AgraFlora formed a wholly owned subsidiary, Pure Grow Medicinals S.A.S. ("Pure
Grow"), to pursue cannabis cultivation and genetics opportunities in Colombia. Pure Grow has
since been working in concert with a Cannabis Cup winner whose strain "Medellin Gold" has received industry accolade and has,
since formation, acquired a select library of rare and exotic native cannabis seed varieties from various regions in the
country.
The Companies genetics portfolio consists of rare, native cannabis strains from the regions of Valle del Cauca, Cauca,
Magdalena and Antioquia in Colombia. Under the agreement, Pure Grow is transferring to
International Cannabis a library consisting of 20 unique strains that include both prominent tetrahydrocannabinol ("THC") and
cannabidiol ("CBD") varietals, including highly sought-after strains such as:
- Caucana,
- Purpura,
- Medellin Gold,
- Maroc.
As both the World Health Organization and many countries around the world shift their stance in favour of medical use of
CBD-dominant cannabis oils and CBD-derived products, the demand for high-yield CBD strains is expected to increase
geometrically.
Under the terms of the agreement, AgraFlora will retain the rights to the genetics library for its own uses within
North America, and International Cannabis is granted exclusive rights elsewhere globally.
In consideration for the transfer of the genetics library, ICC will issue one million common shares to AgraFlora. The valuation
of the shares will be based upon the five-day VWAP of ICC's common shares for the five trading sessions prior to the announcement
of the agreement.
About International Cannabis Corp.
ICC International Cannabis, through its subsidiaries, has operating assets and is developing a world-class platform for
cultivation, extraction, formulation and distribution across the globe in the United Kingdom,
Denmark, Poland, Switzerland,
Germany, Macedonia, Bulgaria,
Serbia, Croatia, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia,
South Africa and Lesotho. Learn more about ICC by visiting our website at: https://intlcannabiscorp.com/
About AgraFlora Organics International Inc.
AgraFlora 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 ICC INTERNATIONAL CANNABIS CORP. BOARD OF DIRECTORS
Eugene Beukman
Chief Executive Officer & Director
ON BEHALF OF THE AGRAFLORA ORGANICS 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.
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 commercialization plans for
UXD 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 filings are available at www.sedar.com
SOURCE AgraFlora Organics International Inc.
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