VANCOUVER, British Columbia, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Agra Ventures Ltd.(“AGRA”orthe“Company”)(CSE: AGRA)(Frankfurt:PU31)(OTCPK:AGFAF), a growth-oriented and diversified company focused on the international cannabis industry, announces that its Board of Directors has approved the Company’s issuance of 911,950 common shares (the “Shares”) at a deemed price of approximately $0.05 per Share as payment of the portion of the quarterly amount of interest due in Shares on a loan entered into in December of 2020. All Shares issued will be subject to a minimum hold period of four months and one day from the date of issuance.
AboutAgra Ventures Ltd.
Agra Ventures is a growth-oriented and diversified company focused on the international cannabis industry. The company is dedicated to the cultivation, distribution and marketing of high-quality cannabis and cannabis-infused products worldwide. Agra Ventures’ primary asset in Canada is Boundary Bay Cannabis located in Delta, BC, which is one of the largest cannabis greenhouse facilities focused on the cost-optimized cultivation of high-potency cannabis. Abroad, the company’s wholly owned subsidiary, Farmako GmbH, is focused on becoming Europe’s leading distributor of medical cannabis. Farmako currently has active product distribution operations in Germany and is fully licensed in the United Kingdom.
For more information about Agra Ventures, please visit www.agraventures.com and its profile page on SEDAR at www.sedar.com.
ONBEHALFOFTHEBOARDOFDIRECTORS
Nick Kuzyk, Investor Relations
E: ir@agraventures.com
T: (800) 783-6056
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Forward-lookingInformationCautionaryStatement
Exceptforstatementsofhistoricfactthisnewsreleasecontainscertain“forward-lookinginformation” within the meaning of applicable securities law. Forward-looking information isfrequentlycharacterizedbywordssuchas“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 atthe date the statements are made and are subject to a variety of risks and uncertainties and otherfactors that could cause actual events or results to differ materially from those anticipated in theforward-looking statements including but not limited to delays or uncertainties with regulatoryapprovalsincludingthatoftheCSE.Thereareuncertaintiesinherentinforward-lookinginformation including factors beyond the Company’s control. There are no assurances that thebusinessplansforAgra Ventures describedinthisnewsreleasewillcomeintoeffectonthe terms or time frame described herein. The Company undertakes no obligation to updateforward-looking information if circumstances or management’s estimates or opinions shouldchange except as required by law. The reader is cautioned not to place undue reliance onforward-looking statements. Additional information identifying risks and uncertainties that couldaffect financial results is contained in the Company’s filings with Canadian securities regulatorswhichareavailableatwww.sedar.com.
SOURCE: Agra Ventures Ltd.
