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AgraFlora Organics International Inc. (AGRA.CN)

Canadian Sec - Canadian Sec Real Time Price. Currency in CAD
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0.03000.0000 (0.00%)
At close: 3:47PM EDT
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Previous Close0.0300
Open0.0000
Bid0.0250 x 0
Ask0.0300 x 0
Day's Range0.0000 - 0.0000
52 Week Range
Volume0
Avg. Volume5,447,429
Market Cap44.724M
Beta (5Y Monthly)1.01
PE Ratio (TTM)N/A
EPS (TTM)-0.0560
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • AgraFlora Announces Farmako Supply Agreement of Proprietary THC Testkits to STADAPHARM
    GlobeNewswire

    AgraFlora Announces Farmako Supply Agreement of Proprietary THC Testkits to STADAPHARM

    Wholly-Owned German Subsidiary Developed THC Testkits In-House to Help Pharmacists Identify Medical CannabisVANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that its wholly-owned subsidiary, Farmako GmbH (“Farmako”) – a GDP certified pharmaceutical wholesaler with a focus on the cannabinoid therapy – has begun supplying STADAPHARM GmbH (“STADAPHARM”) with its proprietary THC Testkits (the “THC Testkits”). The THC Testkits were developed and produced by Farmako in-house and will be supplied to STADAPHARM as a tool for pharmacists to detect THC and identify medical cannabis flowers and extracts in an easy, quick and cost-efficient way. STADAPHARM, which is responsible for the Specialty Pharmaceuticals business within the STADA Group, will be entering the medical cannabis market in the second quarter of 2021. The company will launch its own THC-containing cannabis flower products and extracts and will also offer the THC Testkits, developed and produced by Farmako, along with its own products to pharmacists for the identity testing of medical cannabis. “Katrin and everyone at Farmako continue to demonstrate their ingenuity and passion for the cannabis industry in Germany. 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,” said Elise Coppens, Chief Executive Officer and Director of AgraFlora. “Discussion in the German cannabis market often circles around the high barriers for patients, suppliers, doctors and pharmacists. Therefore, we as Farmako want to facilitate easier access to cannabinoid therapy for patients with a high burden of suffering via fair prices, reliable supply and efficient service for healthcare professionals. For us, cooperation is an important element of competition, only in this way can we develop the market for the benefit of patients. Therefore, we are very happy about this partnership with STADAPHARM, a highly renowned pharma corporation,” commented Katrin Eckmans, CEO of Farmako GmbH. Farmako has been supplying THC Testkits to pharmacies since December 2020. The THC Testkit, for which Farmako holds patent protection, facilitates identity testing of cannabis in only five minutes, without the need for further auxiliary devices or expensive reference substances – thus offering a better alternative to the time-consuming and costly thin layer chromatography method of identity testing pharmaceutical ingredients or medicines containing THC. Further, the THC Testkit has been validated by the German testing laboratory DSI-pharm, Quality Services International GmbH, regarding its specificity for the purpose of identifying cannabis flowers and extracts according to German Pharmacopoeia. Farmako has been active as reliable supplier of medical cannabis flowers since beginning of 2019. In Q4 2020 the product portfolio was enhanced by pharma-grade CBD isolate (GMP) as well as the THC TestKit and IMC cannabis flowers. In the second quarter of 2021, Farmako will further complement its product range by offering its own high THC cannabis extracts at a fair price. In this way, Farmako takes root as a supplier with a comprehensive portfolio in the medical cannabis market and continues to present itself as reliable partner for the retail and wholesale market. About AgraFlora Organics International Inc. AgraFlora Organics International Inc. is a leading cannabis company building shareholder value through the development of revenue generating operating 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 agraflora.ca and its profile page on SEDAR at www.sedar.com. ON BEHALF OF THE BOARD OF DIRECTORSNick Kuzyk, Investor RelationsE: ir@agraflora.caT: (800) 783-6056 For French inquiries:Maricom Inc. Remy Scalabrini E: rs@maricom.ca 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 StatementExcept 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.

  • AgraFlora and Other Owners Agree to Sell Edibles Business for $35 Million to Organigram
    GlobeNewswire

    AgraFlora and Other Owners Agree to Sell Edibles Business for $35 Million to Organigram

    $22 Million in Shares of Organigram Received at Closing and Up To $13 Million More Receivable Upon Achievement of Certain Earn-Out MilestonesVANCOUVER, British Columbia, April 06, 2021 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that it and its fellow shareholders have entered into an agreement to sell The Edibles & Infusions Corporation (“EIC”), an entity of which AgraFlora owns 43%, to Organigram Holdings Inc. (TSX: OGI and NASDAQ: OGI) (“OGI”), for consideration of $22 million in shares of OGI (the “EIC Transaction”), plus up to an additional $13 million in shares of OGI (the “Additional Consideration”) receivable upon the EIC business achieving certain earn-out milestones (the “Milestones”). The EIC Transaction strongly positions AgraFlora for the future 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,” said Elise Coppens, Chief Executive Officer and Director of AgraFlora. “The EIC facility was designed to handle both smaller-batch artisanal manufacturing and, more importantly, large-scale nutraceutical-grade and high-efficiency production with a view to gaining EU GMP certification. Organigram found the facility’s design and flexibility attractive, while AgraFlora is now better positioned with its net share of the transaction proceeds to explore new opportunities, potentially in the United States. As such, we view this transaction as truly mutually beneficial,” added Ms. Coppens. Key Transaction Terms The gross purchase price receivable by AgraFlora and the other shareholders on closing of the EIC Transaction is $22 million, receivable in full by the issuance of 5,045,872 common shares of OGI based on its closing price of $4.36 on April 5, 2021. Upon satisfaction of the Milestones, OGI will issue up to an aggregate of an additional $13 million of its common shares proportionately to AgraFlora and the other shareholders, for which the number of common shares will be determined upon achievement of each Milestone. The Milestones include: $3.5 million to be received in common shares of OGI on first listing prior to December 31, 2021 in either the Ontario or Alberta recreational market of EIC or Organigram branded product (which was manufactured at the EIC facility);$7.0 million to be received in common shares of OGI on the successful completion of $15 million in net revenue during the 12 months ended December 31, 2022;$2.5 million to be received in common shares of OGI on the generation of $7 million in Adjusted EBITDA for the 12 months ended December 31, 2022. The purchaser is an arm’s length party to AgraFlora. The EIC Transaction has been approved by AgraFlora’s Board of Directors. Milestone payments to be received in common shares of OGI shall be priced at the closing price on the Toronto Stock Exchange (“TSX”) on the day prior to settlement. The EIC Transaction has received approval from the TSX and has also received customary conditions and approvals from OGI’s senior lenders. Advisors Borden Ladner Gervais LLP, Chaitons LLP, MLT Aikins Law and Purdy Law acted as legal advisors to the vendors. About AgraFlora Organics International Inc. AgraFlora Organics International Inc. is a leading cannabis company building shareholder value through the development of revenue generating operating 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 agraflora.ca and its profile page on SEDAR at www.sedar.com. ON BEHALF OF THE BOARD OF DIRECTORSNick Kuzyk, Investor RelationsE: ir@agraflora.caT: (800) 783-6056 For French inquiries:Maricom Inc. Remy Scalabrini E: rs@maricom.ca 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 StatementExcept 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.

  • AgraFlora Announces Definitive Agreement to Sell its AAA Heidelberg Subsidiary
    GlobeNewswire

    AgraFlora Announces Definitive Agreement to Sell its AAA Heidelberg Subsidiary

    VANCOUVER, British Columbia, April 01, 2021 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce the signing of a definitive agreement (the “Agreement”) to sell its wholly-owned subsidiary, AAA Heidelberg Inc. (“AAA”), for cash consideration of approximately $1 million (the “Transaction”). AAA operates an 8,800 square foot indoor growing facility in London, Ontario. The closing of the Transaction is subject to customary approvals and 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. 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,” said Elise Coppens, Chief Executive Officer and Director of AgraFlora. “On behalf of the Board of Directors, I would like to thank the purchaser for their professionalism and expediency during the course of this Transaction,” added Ms. Coppens. About AgraFlora Organics International Inc. AgraFlora Organics International Inc. is a leading cannabis company building shareholder value through the development of revenue generating operating 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 agraflora.ca and its profile page on SEDAR at www.sedar.com. ON BEHALF OF THE BOARD OF DIRECTORSNick Kuzyk, Investor RelationsE: ir@agraflora.caT: (800) 783-6056 For French inquiries:Maricom Inc.Remy ScalabriniE: rs@maricom.ca 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 StatementExcept 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.