AgraFlora Organics International Inc. Says Flagship Crop Asset, Propagation Services Canada Inc. Receives Agricultural Loan
As part of the loan, the group’s Delta facility will receive $ 5,000,000, which will provide full funding to the licensed growing areas and allow the team to market their first crop of low-cost, high-potency cannabis. .
AgraFlora Organics International Inc. (CSE: AGRA) (FRA: PU31) (OTCPINK: AGFAF) said that Propagation Services Canada Inc. (PSC), its flagship crop asset located in Delta, British Columbia, has received a farm loan to market its cannabis crop and continue phase 1 of the corporate culture strategy.
As part of the loan, the group’s 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 low-cost, high-cost cannabis crop. power, roughly, in Q1 2021.
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Delta’s organized elite genetics portfolio at the Delta facility was designed to work with PSC’s Delta-based infrastructure and utilizing 422,828 square feet of grow space with semi-pressurized and semi-semi-pressurized Venlo greenhouses. open at the cutting edge of technology.
In a statement, AgraFlora’s Board of Directors said, “Having a fully funded Phase 1 grow strategy allows us to deliver high potency cannabis strains in 2021. As partners of PSC, we have fully confidence in the ability of the Houwelings family to achieve this strategy. , given their long history of high-quality agricultural production in low-cost environments, as well as the healthy condition of our award-winning genetics.
With demand for high potency products tending to increase, especially in the low price segment, the company said PSC is uniquely positioned to produce a compelling value proposition for wholesale customers: high potency cannabis with desirable strains at a competitive price.
AgraFlora Organics is a leading cannabis company that creates shareholder value through the development of revenue-generating operating assets in the global cannabis industry. It focuses primarily on the Canadian cannabis industry, the most advanced and regulated legal cannabis market in the world.
Flagship Canadian 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, has focused on reshaping the Canadian flower market with high potency, low cost cannabis flowers, and AAA Heidelberg, a producer of craft-focused cannabis 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.
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. Through the joint venture, Propagation Services Canada will operate an automated greenhouse with an expandable footprint of up to 2,200,000 square feet, and it is expected to begin its cannabis business and revenue in 2020 with a focus on high-volume cannabis production. power at the lowest possible cost. to drive margin growth and profitability.
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