Vancouver, British Columbia / May 21st, 2019 – AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF) is pleased to announce that effective immediately, Mr. Brandon Boddy has been appointed Chairman and CEO of AgraFlora. Mr. Boddy has been mandated with accelerating the Company’s licensed domestic cannabis production activities, as well as actively championing various corporate initiatives, including:
- Creating accretive shareholder value by way of mergers and acquisitions (“M&A”);
- Implementing the company’s domestic and international supply chains processes; and,
- Executing on high-margin European downstream opportunities.
As a Co-Founder of Auxly Cannabis Group Inc. (“Auxly”), formerly Cannabis Wheaton Income Corp., Mr. Boddy was instrumental in raising over $300 million in capital, as well as spearheading an array of corporate development and M&A initiatives. Auxly is globally recognized as a premier vertically integrated cannabis company and at its zenith achieved a market capitalization of over $1.8 billon.
The Company also announces that Mr. Derek Ivany, is stepping down as President, CEO and a Director of AgraFlora. Mr. Ivany will remain engaged with AgraFlora in a formal consultative capacity, specifically tasked at overseeing the internal knowledge transfer process, as well as managing the Company’s diverse investment portfolio. In addition, Derek will continue to lead Natures Hemp Corp., which is progressing with its mandate within the holistic medicinal natural health-oriented Hemp and CBD segment. Natures Hemp was spun out to the shareholders of AGRA on August 28, 2018 and is a reporting issuer in Alberta, British Columbia and Ontario.
“It has been a sincere pleasure to have dedicated the last four years of my life to the business of AgraFlora,” said Derek Ivany. “Through the hard work and dedication of our extraordinary team we have been able to successfully navigate the regulatory complexities of this burgeoning industry in order to position AGRA as a licensed, mainstay player in the Canadian cannabis sector, equipped with the second largest cannabis greenhouse in Canada. Brandon’s knowledge of all spheres of the capital markets space, his clear ability to execute and his entrepreneurial nature, along with a demonstrated capacity to lead and delegate in dynamic and growing organizations represent the skill sets that AgraFlora needs as it moves towards production and sales. I am confident in the track record that Brandon brings to the Company and am excited to be working alongside him in order to ensure continued success to the benefit of all stakeholders.”
“I am ecstatic to be joining AgraFlora as Chairman and CEO and look forward to leveraging my many years of venture formation and operational experience, coupled with an extensive network of institutional investors to further advance AgraFlora’s pursuit of vertically integrated cannabis operations,” said Brandon Boddy, newly appointed Chairman and CEO of AgraFlora. “The 2,200,000 square foot Delta Greenhouse Complex is slated to be one of the largest and most advanced cannabis cultivation operations worldwide and will act as a springboard for the continued integration of upstream, mid-stream, construction and downstream capabilities. I would like to personally take this opportunity to applaud Derek for his tremendous accomplishments in developing AgraFlora’s business to date.”
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 Service Canada and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Brandon Boddy
Chairman & CEO
T: (604) 682-2928
For additional information:
AgraFlora Organics International Inc.
Tim McNulty
E: [email protected] T: (800) 783-6056
For French inquiries:
Remy Scalabrini, Maricom Inc.
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.