VANCOUVER, British Columbia, Nov. 27, 2019 (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 announce the Company’s subsidiary, The Edibles and Infusions Corporation (“Edible & Infusions”) has been awarded a cannabis research licence from Health Canada (the “Research License”) under the Cannabis Regulations Act.
The Research License equips AgraFlora with the ability to develop cannabis edible formulations, as well as perform human sensory testing for taste, appearance, aroma and texture at its 51,500 square foot edibles manufacturing facility located in Winnipeg, Manitoba (the “Winnipeg Edibles Facility”). The Research License also allows AgraFlora to possess and store dry cannabis, cannabis oils/concentrates and cannabis edibles.
The Company is preparing to immediately begin various formulation and product development campaigns upon the receipt of THC/CBD distillate at its on-site 750 square foot, pharmaceutical grade laboratory.
AgraFlora also announces that its roster of food engineers, nutritionists and scientists will be travelling to the Winnipeg Edibles Facility to assist with optimizing bioavailability, consistent dosing protocols and the flavouring of its formulations. The Company’s in-house food science consultancy arm is comprised by experienced microbiologists, as well as certified bakers trained by the American Institute of Baking (the “AIB”). The AIB is a 100-year-old cornerstone industry authority, which has successfully instituted food safety, quality management and optimized production practices for some of the world’s most prominent food conglomerates including P&G, Nestle, Kraft and Heinz.
AgraFlora’s food engineers, nutritionists and scientists have created numerous turnkey recipes for a variety of Fortune 500 companies, resulting in over US$300 million of attributable sales revenues. Armed with 30 years of combined experience within the competitive CPG food product development space, the Company’s in-house food science team has developed a portfolio of successful products for CPG industry leaders such as Dean Foods- the largest dairy company in America.
Brandon Boddy, Chairman and Chief Executive Officer of AgraFlora stated: “This Research Licence is a critical milestone for Edibles & Infusions and AgraFlora, as it is the final regulatory requirement that must be met before revenue generating product formulation and research initiatives can begin at our Winnipeg Edibles Facility. Many thanks to the high functioning and multifaceted Edibles & Infusions’ team for their commitment to this state of the art facility; consistently achieving mission-critical, project-level deliverables under budget and ahead of schedule.”
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 Services Canada Inc. and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company is also retrofitting a 51,500-square-foot good manufacturing practice (“GMP”) edibles manufacturing facility in Winnipeg, Manitoba. AgraFlora 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.
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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.
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