VANCOUVER, British Columbia, April 05, 2022 (GLOBE NEWSWIRE) —
Agra Ventures Ltd.
(“AGRA”
or
the
“Company”)
(CSE: AGRA)
(OTC:
AGFAF) (FRA:
PU30),
a growth-oriented and diversified company focused on the international cannabis industry, announces that it has entered into an agreement with holders of the Company’s 10.00% Senior Unsecured Convertible Debentures (the “
Debentures
”) to amend the Debentures to extend the maturity date for an additional twelve months to March 12, 2023. The Company has additionally satisfied the aggregate accrued interest on the Debentures for the period from January 1, 2021 to December 31, 2021, totaling $2,100,000, by the issuance of 1,200,000 common shares in the capital of the Company on a pro rata basis to the holders of the Debentures.
About
Agra 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
.
ON
BEHALF
OF
THE
BOARD
OF
DIRECTORS
Nick
Kuzyk,
Investor
Relations
E:
[email protected]
T:
(800)
783-6056
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
Agra Ventures 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.
SOURCE:
Agra
Ventures
Ltd.
