MjLink Cannabis Business News and Press
The company’s main Propagation Services Canada subsidiary has also rebranded as Boundary Bay Cannabis to coincide with the firm’s first cannabis crop harvest
AgraFlora Organics International Inc has announced that, effective on July 28, 2021, it will change its name to Agra Ventures Limited to reflect the “evolved vision and strategic direction” of the company under its current leadership.
The company said the Canadian Securities Exchange will publish a bulletin announcing the date of the name change, and the firm will begin trading under its new name on or about July 28, 2021. The shares will continue to trade under the “AGRA” ticker symbol on the Canadian Securities Exchange.
In addition, the company’s main subsidiary Propagation Services Canada has rebranded to Boundary Bay Cannabis to conjure up the picturesque setting in which its cannabis is grown in the Delta region, in British Columbia.
READ: AgraFlora says first wholesale crop at Delta greenhouse on track for sale at the end of summer
The company expects to sell the crop on a business-to-business basis to a licensed producer with a sales license, on a predetermined or spot basis
AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) CEO Elise Coppens told shareholders that the first wholesale crop growing at the Delta greenhouse in British Columbia is on track for processing and sale towards the end of summer this year.
In a letter to shareholders, Coppens said that the company has been focused on generating revenue through the sale of cannabis from the Delta facility.
AgraFlora is in a joint venture with Propagation Services Canada Inc (PSC), which operates a 2.2 million-square-foot greenhouse complex in Delta, British Columbia. The company has both an industrial hemp license and a standard cultivation license from Health Canada. Agraflora holds a 70% stake in PSC.
READ: AgraFlora Organics intends to be a top cannabis player in Canada and Europe
“The first wholesale crop growing at the Delta greenhouse is on track for its cultivation, drying, processing and sale toward the end of this summer,” said Coppens. “We expect to sell the crop on a business-to-business basis to an LP with a sales license, either on a predetermined or spot basis, depending on the crop’s quality and based on the results obtained via lab testing.”
The company expects to sell the crop on a business-to-business basis to a licensed producer with a sales license, either on a predetermined or spot basis
AgraFlora Organics International Inc (CSE:AGRA) (FRA:PU31) (OTCPINK:AGFAF) CEO Elise Coppens told shareholders that the first wholesale crop growing at the Delta greenhouse in British Columbia is on track for processing and sale towards the end of summer this year.
In a letter to shareholders, Coppens said that the company has been focused on generating revenue through the sale of cannabis from the Delta facility.
AgraFlora is in a joint venture with Propagation Services Canada Inc (PSC), which operates a 2.2 million-square-foot greenhouse complex in Delta, British Columbia. The company has both an industrial hemp license and a standard cultivation license from Health Canada. Agraflora holds a 70% stake in PSC.
READ: AgraFlora Organics intends to be a top cannabis player in Canada and Europe
“The first wholesale crop growing at the Delta greenhouse is on track for its cultivation, drying, processing and sale toward the end of this summer,” said Coppens. “We expect to sell the crop on a business-to-business basis to an LP with a sales license, either on a predetermined or spot basis, depending on the crop’s quality and based on the results obtained via lab testing.”
Fitzmaurice brings more than 14 years of experience in accounting and financial control, serving both public and private companies
AgraFlora Organics International Inc (CSE:AGRA) (FRA:PU31) (OTCPINK:AGFAF) announced that it has appointed veteran executive Fiona Fitzmaurice as its new CFO.
Fitzmaurice brings more than 14 years of experience in accounting and financial control, the company said, serving both public and private companies. Fitzmaurice has previously worked as CFO of companies including MacDonald Mines Exploration Ltd., Pasofino Gold and Mojave Jane Brands. She also has extensive experience with corporate audits, prospectus filings, private placements, financings and corporate acquisitions.
AgraFlora’s former CFO, Peter Nguyen, has amicably agreed to depart the company in order to “facilitate Ms. Fitzmaurice’s transition as the new steward of AgraFlora’s finances,” the company said.
READ: AgraFlora Organics subsidiary starts supplying THC Teskits to Stadapharm GmbH in Germany
“On behalf of the board of directors, I am pleased to welcome Fiona to AgraFlora’s management team as we continue to evolve the company’s streamlined corporate strategy and execute on our near-term goal of generating revenues from our core assets,” CEO Elise Coppens said in a statement.
The THC Testkit was developed and produced by Farmako in-house as a tool for pharmacists to detect THC and identify medical cannabis flowers and extracts easily, quickly and at low cost
AgraFlora Organics International Inc (CSE: AGRA) (FRA:PU31) (OTCPINK:AGFAF) announced that its German pharmaceutical wholesale subsidiary, Farmako GmbH, has begun supplying its proprietary THC Testkits to Stadapharm GmbH.
The THC Testkit was developed and produced by Farmako in-house as a tool for pharmacists to detect THC and identify medical cannabis flowers and extracts easily, quickly and at low cost, the company said.
Stadapharm, which is responsible for the specialty pharmaceuticals business within the German STADA Group, is expected to enter the medical cannabis market in the second quarter of 2021. The company plans to launch its own THC cannabis flower products and extracts and will also offer the Farmako THC Testkits, the company said.
READ: AgraFlora Organics CEO says recent asset sales give ‘us the financial flexibility’ to enter lucrative markets
“Katrin and everyone at Farmako continue to demonstrate their ingenuity and passion for the cannabis industry in Germany,” AgraFlora CEO Elise Coppens said in a statement. “I am very proud of the team and commend their efforts to develop the THC Testkit in-house, obtain patent protection, bring it to market and secure the supply agreement with Stadapharm.”
CEO Elise Coppens said AgraFlora is in “the best financial shape that it has been in over 24 months” after the sale of EIC and AAA Heidelberg
AgraFlora Organics International Inc (CSE:AGRA) (OTCMKTS:AGFAF) (FRA:PU31) CEO Elise Coppens told shareholders the “transformational sale” of two of its assets provided the company with the financial flexibility to look at entering more lucrative markets.
On Tuesday, AgraFlora struck an agreement to sell The Edibles & Infusions Corporation (EIC), an entity in which AgraFlora owns 43%, to Organigram Holdings Inc (TSE:OGI) (NASDAQ:OGI) (FRA:0OG) for $35 million.
Earlier this month, the Vancouver, British Columbia-based company which grows, distributes, and markets premium cannabis and cannabis-infused products, also struck a definitive agreement to sell its wholly-owned subsidiary AAA Heidelberg Inc (AAA) for around C$1 million in cash.
READ: AgraFlora and other owners to sell edibles business for $35M to Organigram Holdings
“It is always a difficult decision to sell a significant asset, however, the timing of our review of all company assets aligned well with the opportunity to receive the value that we did for this facility. Ultimately, the sale of AgraFlora’s share of EIC was a strategic decision,” Coppens said in a letter to shareholders.
The cannabis company said $22 million Organigram shares were received at closing, and up to $13 million more will be received on achieving earn-out milestones
AgraFlora Organics International Inc () () (FRA:PU31) has said it and its shareholders have struck an agreement to sell The Edibles & Infusions Corporation (EIC), an entity in which AgraFlora owns 43%, to Organigram Holdings Inc (TSE:OGI) (NASDAQ:OGI) for $35 million.
The Vancouver, British Columbia-based company which grows, distributes, and markets premium cannabis and cannabis-infused products, said that the EIC transaction “strongly positions” AgraFlora with its net share of up to $35 million in aggregate proceeds as it continues to evolve its competitive strategy within the changing global cannabis industry.
“AgraFlora and Organigram have enjoyed working towards the closing of the EIC Transaction,” AgraFlora CEO Elise Coppens said in a statement.
READ: AgraFlora Organics International to sell non-core subsidiary AAA Heidelberg
Coppens noted that the EIC facility was designed to handle both smaller-batch artisanal manufacturing and, “more importantly, large-scale nutraceutical-grade and high-efficiency production with view to gaining EU GMP certification.”
AAA operates an 8,800 square foot (sq ft) indoor growing facility in London, Ontario
AgraFlora Organics International Inc (CSE:AGRA) (FRA:PU31) (OTCPINK:AGFAF), the cannabis-focused company, said it had struck a definitive agreement to sell its wholly-owned subsidiary AAA Heidelberg Inc (AAA) for around C$1 million in cash.
READ: AgraFlora Organics names Canadian cannabis industry veteran Elise Coppens as its new CEO and board director
AAA operates an 8,800 square foot (sq ft) indoor growing facility in London, Ontario and the closing of the deal is expected to occur in the second quarter of 2021.
"With the positive developments being experienced in Delta, BC at our Propagation Services Canada facility, the AAA Heidelberg subsidiary was deemed to be non-core to the company," said Elise Coppens, chief executive and director of AgraFlora.
"Further, streamlining AgraFlora’s strategy, focusing on our core assets and benefiting from the cash proceeds of this Transaction are all high priorities for us at this transformative time.
Coppens’ previous roles have included but are not limited to serving as president of Bloomera, marketing director for Aurora Cannabis, and the director of international sales for Ample Organics
AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) announced Monday that Canadian cannabis industry veteran Elise Coppens has been appointed as its new CEO.
Coppens was also named to the company’s board of directors. Both appointments are effective from March 8 but subject to the final acceptance of the Canadian Securities Exchange.
During her career in the Canadian cannabis industry, AgraFlora noted that Coppens’ roles have included but are not limited to serving as president of Bloomera, marketing director for Aurora Cannabis, and the director of international sales for Ample Organics.
READ: AgraFlora Organics anticipates first PSC sales and revenue in summer of 2021
“I would like to thank the board of AgraFlora for welcoming me to the organization and I look forward to implementing my vision for the company immediately,” Coppens said in a statement. “AgraFlora has great assets and human capital, and with that foundation I am confident that we can add great value to the Company for the benefit of all stakeholders.”
The company said Propagation Services Canada, its flagship cultivation asset, is continuing its momentum towards first commercial sales
AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) has said Propagation Services Canada Inc (PSC), its flagship cultivation asset located in Delta, British Columbia, is continuing its momentum towards first commercial sales and is expected to report initial revenues in the summer of 2021.
The cannabis firm noted that the first commercial crop for sale will include three proprietary strains - Mimosa 37, Kosher Kush, and Gelato - which it said have been selected for their strong demand in Canada’s dried flower market, as well as their growing attributes within the greenhouse environment which align with their low-cost high-THC cannabis attributes.
READ: AgraFlora Organics expects to enter Canadian edibles market in 1Q 2021
AgraFlora added that PSC has gathered valuable data from crops grown to date and continues to “develop and strategize to further aid in its positioning as a leader in low-cost product”.
The firm also said recent modifications and calibrations provided by an international partner to existing drying rooms have allowed PSC to almost double anticipated drying capacity for a minimal investment, and that PSC will be optimizing its propagation operations by fine-tuning its climate strategy to produce healthy, rooted cuttings more quickly with high success rate monitoring irrigation mixtures to produce custom nutrient formulations for each stage of plant growth.
The development phase of the R&D trials is complete and the company has created efficient processes for desired formulations and products (gummies) as it prepares to go commercial
AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) said Wednesday it expects to enter the Canadian edibles market in the first quarter of 2021.
In a statement, the company said it has completed the first phase of research and development trials at its Health Canada-licensed, 51,000 square-foot, fully automated edibles manufacturing facility in Winnipeg, Manitoba.
Prior to receiving a standard processing license from Health Canada, the company had commenced cultivating long-term production relationships through R&D trials utilizing the company’s Health Canada R&D license.
READ: AgraFlora Organics receives cannabis edibles processing licence for its Winnipeg manufacturing facility
And now that the development phase of the R&D trials is now complete and the company has created efficient processes for desired formulations and products, AgraFlora said it is nearly prepared to enter the edibles market soon.
The standard processing license from Health Canada is expected to allow the facility to produce more than 250,000 pieces of cannabis edibles per eight-hour shift when fully operational
AgraFlora Organics International Inc () (OTCPINK:AGFAF) (FRA:PU31) announced that on December 11, 2020, it received a newly-issued standard processing license from Health Canada for the company’s 51,000-square-foot, fully-automated cannabis edibles manufacturing facility in Winnipeg, Manitoba.
The facility is part of the Edibles and Infusions Corporation (EIC) joint venture formed between AgraFlora and one of North America’s leading confectionary manufacturing families.
“We are delighted to receive the Manufacturing License at our Edibles Facility within our outlined timeframe. Our strong evidence package submission is a testament to the hard-working team we have assembled. We are now able to commercialize our formulations and bring to market cannabis activated pectin and gelatin gummies, hard candy, and sugar-free variants,” EIC co-founder and operational manager James Fletcher said in a statement.
READ: AgraFlora Organics intends to be a top cannabis player in Canada and Europe
The Winnipeg manufacturing facility, when fully operational, expects to produce more than 250,000 pieces of precisely-dosed edibles per eight-hour shift.
The company expects to cultivate 10,000 plants and aims to yield 50 grams per plant of saleable product in 2021
AgraFlora Organics International Inc () (OTCPINK:AGFAF) (FRA:PU31) reported that it expects to roll out the first cannabis sales in mid 2Q 2021 from cultivation operations at the Propagation Services Canada (PSC) facility in Delta, British Columbia.
The company said based on the data collected from its 4Q 2020 harvest, it expects to cultivate 10,000 plants and aims to yield 50 grams per plant of saleable product in 2021.
“Our data shows that timing is right in the market for our product. Currently >20% THC cannabis flower varieties rising in value and we aim to solidify good partners for our product and also take advantage of the robust spot market,” AgraFlora Board of Directors said in a statement.
READ: AgraFlora Organics intends to be a top cannabis player in Canada and Europe
AgraFlora added that the grow team at the Delta Facility believes that their multi-generational experience and favourable growing environment will boost PSC to become a leader in pricing low cost, high-THC cannabis.
The addition of the analytical testing platform will allow the company to rapidly develop and launch new edibles products
AgraFlora Organics International Inc () (FRA:PU31) (OTCPINK:AGFAF) has acquired High Performance Liquid Chromatography (HPLC) equipment for its 51,000-square-foot, fully automated edibles manufacturing facility in Winnipeg, Manitoba.
The company said the addition of an Agilent HPLC driven analytical testing platform at the edibles facility will allow it to rapidly develop and launch new edibles products which have already been formulated.
"Implementing this suite of HPLC analytical equipment into our production strategy will reduce our 3rd party product testing costs, while improving product safety and quality by allowing us to continuously monitor edible production to ensure quality standards are being met,” said James Fletcher, co-founder and operational manager for Edibles and Infusions Corporation, a subsidiary that runs the plant, in a statement.
READ: Agraflora Organics responds to Health Canada's RMI regarding its standard processing license application for edibles facility
“This should also greatly improve our speed to market with unique SKU’s and allow us to offer some of the most price competitive products in the market,” Fletcher added.
As part of the loan, the group's Delta Facility will receive $5,000,000 which will provide full funding to the licensed cultivation areas and will allow the team to bring their first crop of low cost, high potency cannabis to market
() (FRA:PU31) (OTCPINK:AGFAF) said that Propagation Services Canada Inc. (PSC), its flagship cultivation asset located in Delta, British Columbia has received an agriculture loan to bring its cannabis cultivation to market and continue Phase 1 of the company’s cultivation strategy.
As part of the loan, the group's Delta Facility will receive $5,000,000 which will provide full funding to the licensed cultivation areas and will allow the PSC team to bring their first crop of low cost, high potency cannabis to market, on a wholesale basis, in Q1 2021.
READ: Agraflora Organics responds to Health Canada's RMI regarding its standard processing license application for edibles facility in Winnipeg
The curated portfolio of elite genetics at the Delta facility has been tailored to work with PSC's Delta-based infrastructure and utilizing 422,828 square foot of cultivation space with state-of-the-art semi-pressurized, semi-open Venlo greenhouses.
In a statement, the AgraFlora board of directors commented: “Having a fully-funded Phase 1 cultivation strategy allows us to deliver high potency cannabis strains in 2021. As partners at PSC, we have full confidence in the Houwelings family's ability 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.”
The company said the RMI (request for more information) response is a key step towards achieving the coveted manufacturing license for the 51,000-square-foot, fully automated facility
Agraflora Organics International Inc () (OCTMKTS:AGFAF) has submitted a formal response to Health Canada's first request for more information (RMI) regarding the standard processing licence application for Agraflora's 51,000-square-foot, fully automated edibles manufacturing facility in Winnipeg, Manitoba.
In a statement Friday, the company said the RMI response is a key step towards achieving the standard processing license for the edibles facility. Agraflora in May submitted its site evidence package to Health Canada for the manufacturing license.
AgraFlora noted that on August 27 it launched research and development trials through its Health Canada R&D license to dial in formulations for cannabis-activated pectin and gelatin gummies, hard candy, and sugar-free variants.
READ: AgraFlora says subsidiary Farmako in distribution agreement with Adjupharm to supply medical cannabis in Germany
The Vancouver-based company said it is currently in discussions with multiple Canadian cannabis companies with respect to product development and formulation as an R&D service. It believes that R&D services contracts are a critical path to long-term production relationships.
Adjupharm, the German subsidiary of IM Cannabis Corp, will provide EU Good Manufacturing Practice quality medical cannabis to Farmako for a three-year term
AgraFlora Organics International Inc () said its subsidiary Farmako GmbH has entered into a binding distribution agreement with Adjupharm GmbH to supply medical cannabis in Germany.
Adjupharm, the German subsidiary of (), will provide EU Good Manufacturing Practice (GMP) quality medical cannabis to Farmako for a three-year term, according to a statement.
Farmako will distribute the products in Germany to patients under the brand to its established network of German pharmacies. The first products are expected to launch in October 2020.
READ: AgraFlora says Farmako subsidiary secures added supply of EU-GMP certified medical cannabis from ZenPharm
The products provided by Adjupharm and distributed by Farmako include initially high potency THC flower. The portfolio is expected to be enhanced throughout the first quarter of 2021 by balanced THC and CBD flower as well as CBD dominant flower.
The company said the agreement will facilitate the distribution of 1,500 kilograms of cannabis flower by Farmako in Germany over a three-year term
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said on Tuesday that its subsidiary Farmako GmbH has executed a binding supply agreement with ZenPharm Limited, a subsidiary of Global Inc (), to secure additional medical cannabis stock.
As result of the supply agreement, ZenPharm will supply EU Good Manufacturing Practice (GMP) quality medical cannabis flower cultivated by to Farmako for distribution to medical cannabis patients in Germany. The agreement will facilitate the distribution of 1,500 kilograms of cannabis flower by Farmako in Germany over a three-year term, said the company.
Farmako will distribute the products to its established network of German pharmacies and the products will carry Farmako’s branding, a key step in building “brand awareness and loyalty” with physicians, pharmacists and patients, noted the company. The products initially include high potency THC flower and balanced THC and CBD flower, two product categories that management believes are in highest demand in Germany. Shipments to Farmako are expected to start in November 2020.
READ: AgraFlora Organics expects first harvest at its Delta greenhouse in fourth quarter 2020
QAAFI received sativa seeds for a tissue culture program designed to enable high volume and pathogen-resistant plant cultivation for medicinal purposes
Asterion Cannabis Inc said Thursday its research partner had received sativa seeds for a tissue culture program designed to enable high volume and pathogen-resistant plant cultivation for medicinal purposes.
The Vancouver-based company said the seeds were received by the University of Queensland’s Queensland Alliance for Agriculture and Food Innovation (QAAFI) last week.
QAAFI has begun the program, which is aiming to expedite clonal propagation of elite sections of marijuana plants to allow for high-volume and uniform plant cultivation. Clonal propagation is the multiplication of genetically identical copies of individual plants.
READ: Asterion Cannabis updates on milestones in bid to become world’s largest pharma-grade medicinal cannabis supplier
In a statement, Asterion CEO Steven Van Deventer told shareholders that the firm was pleased that all the required regulatory approvals were received and the seeds are now in QAAFI’s possession.
The company said it has now dialed in formulations for cannabis activated pectin and gelatin gummies, hard candy and sugar-free variants
AgraFlora Organics International Inc () (OCTMKTS:AGFAF) said it has received a necessary CRA tax license and is now creating test cannabis edibles products through its Health Canada licensed research & development (R&D) lab at the group’s edibles manufacturing facility in Winnipeg, Manitoba.
The company said through its R&D license it has now dialed in formulations for cannabis activated pectin and gelatin gummies, hard candy and sugar-free variants.
READ: AgraFlora Organics expects first harvest at its Delta greenhouse in fourth quarter 2020
"As part of the R&D program, we have begun a testing project with Agilent to improve testing standards, methods, and ensure consistent quality. Our efficient and highly automated R&D production allows us to provide a variety of sample products for our prospective clients to try for their established brands,” said James Fletcher, one of the founders and the operational manager of Edibles and Infusions Corporation, a joint venture formed between AgraFlora and one of North America’s leading confectionery manufacturing families.
AgraFlora also said it submitted its site evidence package to Health Canada for a processing license on May 28, adding that it is in regular contact with the body and remains committed to the timeline of receiving the license in the fourth quarter of 2020.
