VANCOUVER, May 7, 2019 /CNW/ - Agrios Global Holdings Ltd. (CSE: AGRO) (OTCQB: AGGHF) (FSE: ØSA - WKN-A2N62K) ("Agrios" or the "Company") is pleased to announce that Yunnan Hua Ma Biological Development Co. Ltd. ("HMB"), a subsidiary of Agrios Asia Holdings Limited ("Agrios Asia") has recently obtained an Industrial Hemp Cultivation Permit (the "Permit") in Yunnan Province, the People's Republic of China.
The Permit, grants HMB rights to cultivate industrial hemp in the region and to transport industrial hemp seeds, hemp raw materials, hemp stalk and their processed products. Yunnan was the first province in China to allow hemp cultivation in 2010 and has since issued licences for hemp cultivation on more than 220,000 mu (36,300+ acres).
HMB intends to grow 200mu (1mu = 667m2) of Industrial hemp in the 2019 season. A smaller first crop is adequate to continue HMB's development of hemp cultivation and to supply raw materials for current biotechnology research which is focused on utilizing hemp fibers as a bio-degradable alternative for the manufacture of single use disposable utensils.
Both Federal and Provincial authorities from Yunnan's capital, Kunming, have also granted HMB an Import & Export Permit allowing for the direct import and export of goods, internationally as allowable by China customs. In addition, a Food Trading Permit, allows HMB to buy and sell pre-packaged and non-packaged food products, including speciality foods, health foods and nutraceuticals, through both retail and wholesale market channels.
Hemp food and feed products are important markets in China as well as in western countries. Hemp seeds with an essential fatty acid content over 80 percent, boast a higher ratio of these "good fats" than soy alternatives, while offering lower levels of harmful saturated fats. This wholesome consistency makes hemp food products a promising source of healthy, sustainable plant proteins for people and animals alike. From a nutritional-physiological perspective, hemp food products are immensely valuable.
HMB's acquisition of the three new permits for cultivation, import/export and food trading provides an exciting opportunity for Agrios' subsidiaries to join in the rapidly expanding trade of hemp products in and out of China. China's exports of industrial hemp products are projected to grow to US $1.5 billion by 2020, according to New Frontier Data, an independent, technology-driven analytics company specializing in the cannabis industry.
Stephanie Wong, Managing Director of Agrios Asia stated, "acquiring a hemp cultivation Permit is an important milestone for Agrios Asia, as the Company intends to become one of the key players in the development of the hemp industry in China. We are now well positioned to diversify and expand our market reach."
About Agrios Global Holdings Ltd.
Agrios Global Holdings is a data driven agriculture technology and services company advancing the latest innovations in indoor growing science. The Company owns, leases and manages properties and equipment for eco-sustainable agronomy and provides advisory services to support all aspects of aeroponic cultivation in the cannabis sector. Agrios is actively pursuing new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions. Based in Vancouver, BC. Agrios is managed by a highly accomplished team of experienced industry and capital markets experts who are committed to the growth of the company.
This news release was prepared by management of Agrios, which takes full responsibility for its contents. The Canadian Securities Exchange ("CSE") has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Agrios' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to corporate strategy and Agrios' ability to execute such strategy, future developments regarding Agrios' expansion into various markets including numerous states within the United States of America, and into Asia, expected costs of hemp fiber, intended development and sales of hemp products, market demand for hemp products, and the business and operations of Agrios as it relates to the Yunnan Province
Although Agrios has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Agrios disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Agrios does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE Agrios Global Holdings Ltd.
View original content: http://www.newswire.ca/en/releases/archive/May2019/07/c9971.html
Ute Koessler, T: 604-336-2444, investor@agriosglobal.comCopyright CNW Group 2019