VANCOUVER, British Columbia, Feb. 27, 2020 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF), a growth oriented and diversified international cannabis company, is pleased to welcome John Fowler, founder of one of Canada’s top consumer brands 7ACRES and former President and CEO of the Supreme Cannabis Company, Inc. (TSX: FIRE) from 2014 to 2019. John Fowler is the principal of Blaise Ventures Inc., a full-service consulting firm that has been engaged by the Company to support the execution of its strategic priorities to license, operationalize and solidify a path to profitability for the Company’s key assets including: Propagation Services Canada (“PSC”), Edibles & Infusions Corporation (“Edibles & Infusions”), AAA Heidelberg Inc. (“AAA”) and Farmako GmbH (“Farmako”). John and his team will further assist AgraFlora’s management team in identifying, evaluating and executing on accretive corporate opportunities including potential acquisitions, dispositions or new revenue channels in domestic or international markets.
“I entered 2020 looking for strong assets in the cannabis industry where I felt that our team could contribute to building strong and sustainable businesses, with a focus on engaging with key consumer segments to drive profitability and return on investment for shareholders,” said John Fowler, Principal of Blaise Ventures. “I spent the latter part of 2019 meeting with a wide range of cannabis companies throughout Canada, and was particularly impressed by AgraFlora’s market opportunity, which is further amplified by its key assets. Properly aligned, the Company’s assets are well positioned in 2020 to transform from development projects into customer-focused businesses that fill unmet Canadian consumer demand in true commercial cannabis edible production, high potency low cost cannabis flower, and craft cannabis. In addition, I saw an important International segment in the Farmako subsidiary which presents a great opportunity to organically scale one of Germany’s leading medical cannabis distributors into a leading distributor of medical cannabis for all of Europe.”
To date, John Fowler and Blaise Ventures have been focused on driving forward the licensing and commercialization of PSC, a large-scale greenhouse facility located in Delta, BC, as well as Edibles and Infusions, a highly automated cannabis edible facility located in Winnipeg, MB. Supported by a team equipped with deep industry experience and working directly with Health Canada, the Company expects its facilities to be licensed, operationalized and revenue generating before the end of 2020. Both PSC and Edibles & Infusions will focus first on driving revenue through wholesale transactions, thus accelerating revenue ramp-up while reducing associated selling and marketing costs.
The Company will leverage John’s extensive network of large and medium sized Canadian licensed producers, brands and processors to further expedite revenue generation within its wholesale model. Given the relative lack of large-scale, professional gummy manufacturing and the growing opportunity for well-priced, high-potency cannabis flower, Management believes that both PSC and Edibles & Infusions are well positioned to emerge as market disruptors when they enter revenue in Q4 2020.
“When I started in the cannabis industry, I did not have the luxury of experienced partners given how nascent this evolving space was at the time,” said John Fowler. “Furthermore, we had to build our business in an environment of uncertainty with respect to how the regulations and retail landscape would develop. AgraFlora is in an enviable position as it commercializes its assets at a time where most market dynamics are known. Cannabis 1.0 and 2.0 products are in the market and we have real consumer data to know what makes customers happy and what drives their demand. We also have a clear understanding of margin expectations within our B2B Channels, direct to consumer, as well as medical and recreational channels.”
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/.
ON BEHALF OF THE BOARD OF DIRECTORS
Brandon Boddy
Chairman & CEO
T: (604) 398-3147
For additional information:
AgraFlora Organics International Inc.
Tim McNulty
E: ir@agraflora.com
T: (800) 783-6056 |
For French inquiries:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca
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.
