VANCOUVER, British Columbia, July 19, 2021 (GLOBE NEWSWIRE) —
AgraFlora
Organics
International
Inc.
(“
AgraFlora
” or the “
Company
”) (CSE:
AGRA
) (Frankfurt:
PU31
) (OTCPK:
AGFAF
) announces that its Board of Directors has approved the settlement of amounts owing for services rendered (the ”
Debt Settlement
“) through the issuance of common shares (the “
Shares
”). Pursuant to the Debt Settlement, the Company issued an aggregate amount of 803,783 Shares at a deemed price of $0.05 per Share. All Shares issued will be subject to a minimum hold period of four months and one day from the date of issuance.
About
AgraFlora
Organics
International
Inc.
AgraFlora Organics International Inc. is a cannabis company building shareholder value through the development of revenue-generating, operated 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. Its flagship Canadian asset is Propagation Services Canada, a large-scale commercial greenhouse in Delta, BC focused on reshaping the Canadian flower market with high-potency, low-cost cannabis. In addition, AgraFlora’s wholly-owned subsidiary, Farmako GmbH, is focused on becoming 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 2021. For more information about AgraFlora, please visit
www.agraflora.ca
and its profile page on SEDAR at
www.sedar.com
.
ON
BEHALF
OF
THE
BOARD
OF
DIRECTORS
Nick Kuzyk, Investor Relations
E:
[email protected]
T: (800) 783-6056
For
French
inquiries:
Maricom Inc. Remy Scalabrini
E:
[email protected]
T: (888) 585-MARI
The
CSE
and
Information
Service
Provider
have
not
reviewed
and
does
not
accept
responsibility
for
the
accuracy
or
adequacy
of
this
release.
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.
