AgraFlora’s Delta greenhouse receives agricultural loan

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Figure 1

Delta, BC AgraFlora Greenhouse

Delta, BC AgraFlora Greenhouse

VANCOUVER, British Columbia, November 23, 2020 (GLOBE NEWSWIRE) – AgraFlora Organics International Inc. (“AgraFlora“or the”Society”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that Propagation Services Canada Inc., the Company’s flagship crop asset located in Delta, British Columbia (the “Delta Facility” or “PSC”) has received an agricultural loan (the “Ready”) to bring its cannabis cultivation to market and continue with phase 1 of the company’s cultivation strategy.

As part of the loan, the Delta facility will receive $ 5,000,000, which will provide full funding to the licensed growing areas and allow the PSC team to market their first crop of low cost, high potency cannabis, basically in the first trimester. 2021.

The Delta Facility’s elite genetics portfolio has been designed to work with PSC’s Delta-based infrastructure and utilizing 422,828 square feet of grow space with semi-pressurized and semi-open Venlo greenhouses at the cutting edge of technology.

AgraFlora’s Board of Directors stated that “having a fully funded Phase 1 grow strategy allows us to deliver high potency cannabis strains in 2021. As partners of PSC, we have full confidence in the ability of the Houwelings family to achieve this strategy, given their long history. high-quality agricultural production in low-cost environments, as well as the healthy state of our award-winning genetics.

With demand for high potency products on the rise, particularly in the value price segment, PSC is uniquely positioned to produce a compelling value proposition for wholesale customers: high potency cannabis with desirable strains at a price point. competitive.

A photo accompanying this announcement is available on https://www.globenewswire.com/NewsRoom/AttachmentNg/c0e17fe8-9809-4186-a581-8ca4c855a66c

About AgraFlora Organics International Inc.

AgraFlora Organics International Inc. is a leading cannabis company creating shareholder value through the development of revenue-generating operating assets in the global cannabis industry. AgraFlora focuses primarily on the Canadian cannabis industry, the most advanced and regulated legal cannabis market in the world. Canadian flagship assets include: Edibles & Infusions, a fully automated manufacturing facility in Winnipeg, Manitoba, for the production of white label and consumer brand edibles; Propagation Services Canada, a large-scale commercial greenhouse in Delta, British Columbia, focused on reshaping the Canadian flower market with high potency, low cost cannabis flowers, and AAA Heidelberg, a producer of cannabis specializing in crafts in London, Ontario. In addition, AgraFlora’s 100% subsidiary, Farmako GmbH, is moving closer to its goal of being the leading European distributor of medical cannabis. Farmako currently has active distribution operations in Germany and plans to start active UK operations in 2020. For more information, please visit: https://agraflora.com/.

About Propagation Services Canada

Propagation Services Canada is a joint venture between AgraFlora and the Houwelings Group, one of North America’s leading producers and innovators in the greenhouse vegetable production industry. For three generations, Houwelings has championed innovation in vegetable production in North America, holds several patents and develops large-scale commercial greenhouses in British Columbia, California and Utah. The Houwelings Group was the first in the United States to use cogeneration of heat and power and the first to develop a proprietary sealed culture technology. As part of the joint venture, Propagation Services Canada will operate an automated greenhouse with an expandable footprint of up to 2,200,000 square feet. Propagation Services Canada is expected to begin cannabis operations and revenues in 2020 with a focus on the production of high potency cannabis at the lowest price. possible cost to drive margin growth and profitability.

ON BEHALF OF THE BOARD OF DIRECTORS
Brandon boddy
Chairman and CEO
T: (604) 398-3147

For more information :

For requests in French:

AgraFlora Organics International Inc.

Maricom inc.

Nicolas konkin

Remy Scalabrini

E: [email protected]

E: [email protected]

T: (800) 783-6056

T: (888) 585-MARI

The CSE and the information service provider have not reviewed and accept no responsibility for the accuracy or adequacy of this release.

Caution regarding forward-looking information
Except for statements of historical fact, this press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as “plan” “expect” “plan” “intend” “believe” “anticipate” “estimate” and other words or statements similar to certain events. or conditions “could” or “could” occur. Forward-looking statements are based on opinions and estimates at the date the statements are made and are subject to various risks and uncertainties and other factors that could cause actual events or results to differ materially from those. anticipated in 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 control of the Company. There is no guarantee that the business plans for AgraFlora Organics described in this press release will come into effect on the terms or on the schedule described herein. The Company assumes no obligation to update forward-looking information if circumstances or management’s estimates or opinions change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying the risks and uncertainties that could affect the financial results is contained in the documents filed by the Company with the Canadian securities regulators, which are available at www.sedar.com.



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