AgraFlora Accepts Resignation of Director to Facilitate Transition of its Corporate Strategy
Vancouver British Columbia / March 10, 2021 – AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that it has recently accepted the resignation of Christopher (Chris) Hornung from the Company’s board of directors. Mr. Hornung’s amicable resignation facilitates the expected appointment of a new director to the Company’s board in the near future and is aligned with the recent appointment of Elise Coppens as AgraFlora’s new Chief Executive Officer (“CEO”) and Director to implement the next phase of the Company’s corporate strategy.
The directorship vacancy created by Mr. Hornung’s resignation shall remain unoccupied until such a time as the Company has completed the search to fill the role. “I would like to thank Chris for his tenure on the board of directors and his dedication to AgraFlora over that time. We wish him well in his future endeavours and appreciate his professionalism throughout the transition process,” said Elise Coppens, CEO and Director of AgraFlora. “As we continue to reshape the organization for the future, the board and I are excited to have discussions with potential candidates, multiple of which have already been identified,” added Ms. Coppens.
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. Flagship Canadian assets include: Edibles & Infusions, a fully automated manufacturing facility in Winnipeg, MB for white-label and consumer-branded edibles production; Propagation Services Canada, a large-scale commercial greenhouse in Delta, BC focused on reshaping the Canadian flower market with high-potency, low-cost cannabis; and AAA Heidelberg, a craft-focused cannabis producer in London, ON. 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 DIRECTORS
Nick Kuzyk, Investor Relations
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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.