AgraFlora Announces Debt Settlement

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.



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