AgraFlora Acquires 184 New Cannabis Varieties from Genetics firm Vendure Genetics Labs
VANCOUVER, Dec. 27, 2018 /CNW/ - AgraFlora Organics International Inc. (formerly PUF Ventures Inc.) ("AgraFlora Organics" or the "Company") (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis company, is pleased to announce the acquisition of a large library of cannabis seed varieties from a private genetics firm based on the Sunshine Coast in British Columbia . AgraFlora has secured exclusive genetic acquisition agreements for a broad range of cannabis seed varieties from diverse lineages.
"The extensive genetic library of 184 unique cultivars will prove to be a valuable asset to our Company and the Propagation Services Canada joint venture and will allow for the cultivation of a diverse selection of high quality products at our 2,200,000 sq. ft. greenhouse complex in Delta, BC," said Derek lvany, President and CEO, AgraFlora Organics International. "The library also allows us to work with other licensed producers and support our propagation business with a variety of high quality strains. Plant genetics is a key business driver of cannabis industry and by making this acquisition we are establishing a leadership position in the Canadian marketplace. Furthermore we are in discussions with current and near term producers in other Geo-markets to sell them Genetics and plant cultures"
A total of 184 new varieties will be introduced in 2019 and cover the entire spectrum of low, intermediate, and high THC and CBD profiles. The genetics library includes medical and recreational strains of cannabis including the well-known classic Sativa and Indica and also includes rare Ruderalis varieties a low-THC species of cannabis which is native to Central and Eastern Europe that have historical medicinal benefits. The library also includes cultivars not previously available in the Canadian market including landrace strains from central Asia and Southern Africa, and new strains that have been bred for medical needs with special terpene profiles new to the Canadian market. The three principals of Vendure Genetics Labs have been in the genetics industry in Europe, Asia and Canada for the last 65 years combined and have agreed to exclusively work with Agraflora.
Research will continue to expand the unique and differentiated cannabis stains and early testing of recently discovered genetics could prove to be a completely new landrace strain.
About AgraFlora Organics International Inc.
AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Service Canada and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry. For more information please visit: www.agraflora.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Derek Ivany
President & CEO
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.
SOURCE AgraFlora Organics International Inc.
AgraFlora Organics International Inc., E: [email protected], T: (800) 783-6056
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