AgraFlora Organics 2.2 Million Square Foot Delta Facility is the Second Largest Cannabis Greenhouse in Canada
2018年12月20日 - 3:35AM
Agraflora Organics International Inc. (CSE: AGRA) (Frankfurt: PU31)
(OTCPK: PUFXF) (formerly PUF Ventures Inc.) released a three stage
timeline last week for the retrofitting of their new greenhouse
facility in Delta, BC. What they did not relay to the public at the
time, however, is that this 2.2 million square foot facility in
Delta now represents the second largest cannabis greenhouse
facility in Canada (among those that are currently physically
built). AGRA’s Delta facility is second in size only to the Smiths
Falls facility owned by Canopy Growth Corp., the world’s largest
cannabis company, and it is larger than the other two biggest
cannabis facilities in Canada. AGRA’s Delta greenhouse is 100,000
square feet larger than Aurora Cannabis Inc.’s facility in
Edmonton, and it is also more than 700,000 square feet larger than
the current size of the Leamington facility owned by Aphria Inc.
With this substantial square footage, of course, also comes the
potential for significant plant growth and sales. According to AGRA
CEO Derek Ivany, the facility in Delta will be capable of producing
“...approximately 0.12 kg [of cannabis flower] per square foot,”
allowing it to boast an annual production capacity of 250 million
grams of high-quality cannabis product, and AGRA has already
solidified offtake agreements with two major cannabis organizations
in Canada in order to provide themselves with potential future
sales outlets. AGRA became part of Canopy Growth Corp’s CraftGrow
Family in 2017, and, in an announcement released this past
Thursday, AGRA stated that Namaste Technologies, through its
wholly-owned subsidiary Cannmart Inc, will have the right of first
refusal on the purchase of up to 25,000,000 grams of cannabis from
AGRA at a price of $4.00 per gram. The Namaste arrangement alone
represents up to $100 million in potential future revenue for
AGRA.
The greenhouse in Delta was secured through a partnership with
the Houweling’s Group, and it is this partnership that will also
help AGRA both maximize the growing potential of the facility and
ensure that it is up and running on schedule. The Houweling’s
Groups brings forty years of greenhouse experience and growing
expertise to the project as well as a plethora of established
infrastructure. The Houweling’s Group is a fully vertically
integrated organization with a total of 8.4 million square feet of
greenhouse space in Canada and the United States and more than 200
employees. They have employee groups working in growing,
harvesting, distribution, administration, I.T. and finance, and
this means that they are fully self-sufficient.
In order to fund AGRA’s plans for retrofitting the greenhouse in
Delta, AGRA has secured another $7.5 million in financing from the
Delta Organic Cannabis Corp. (DOCC). In September of 2018 AGRA
entered into a $40-million equity participation and earn-in
agreement with DOCC, a privately held Toronto-based investment
company managed by some of Canada’s leading cannabis investors, and
so far $20-million of this money has already been provided. On
October 18th, an initial tranche of $12.5 million was secured,
while the most recent $7.5 million came through on December 10th.
Both tranches were purchased at a share price of approximately 45
cents.
As stated previously, AGRA will be retrofitting their Delta
greenhouse in three stages, aiming to make the facility fully
operational by 2021. The first stage will include the completion of
350,000 square feet of growing space and 100,000 square feet of
post production facilities and is scheduled to be completed in the
second quarter of 2019. The second stage will include an additional
1.45 million square feet to be completed by the fourth quarter of
2019. Finally, another 400,000 square feet of space will be
completed by the end of 2020.
With all of these aspects combined, AGRA has placed themselves
in an enviable position within the Canadian cannabis industry. Not
only does the company have one of the top three largest cannabis
greenhouses in the country, but they also have the financing,
expertise, infrastructure, and sales outlets needed to maximize the
potential of the project.
About Agraflora Organics International Inc.
Agraflora Organics International is a growth-oriented and
diversified company focused on the international cannabis industry.
It has ownership in several cannabis companies, including AAA
Heidelberg Inc. and Propagation Services Canada in Canada, and is
actively pursuing other opportunities within the cannabis industry.
Agraflora Organics has an option to purchase 100 percent of AAA
Heidelberg, a licensed producer under the Access to Cannabis for
Medical Purposes Regulations. ON BEHALF OF THE BOARD OF DIRECTORS
Derek Ivany, President & CEO For additional information:
AgraFlora Organics International Inc. E: ir@agraflora.comT:
(800) 783-6056 No stock exchange or securities regulatory authority
has reviewed or accepted responsibility for the adequacy or
accuracy of this release. Some of the statements contained in this
release are forward-looking statements, such as estimates and
statements that describe the Issuer's future plans, objectives or
goals, including words to the effect that the Issuer or management
expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties.
Global Objective MarketingThis piece was written
and distributed by Global Objective Marketing (GOM). All of the
information contained within was produced using publicly available
information and any opinions about individuals, companies or
industries expressed within this release belong solely to GOM. The
opinions expressed by GOM should not be considered as complete,
accurate, or current investment advice. Any investment decisions
made by readers are theirs and theirs alone. To ensure that you are
making investment decisions that serve your own best interests, we
recommend that you utilize the services of a professional financial
planner or advisor. In order to comply with Section 17(b) of the
1933 Securities Act, GOM discloses that it was paid a sum of
fifteen-hundred CAD to write this content for AgraFlora Organics
International.
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