VANCOUVER , May 21, 2019 /CNW/ - AgraFlora Organics International Inc. ("AgraFlora" or the "Company") (CSE: AGRA) (PU31.F) (OTCPK: PUFXF) is pleased to announce that effective immediately, Mr. Brandon Boddy has been appointed Chairman and CEO of AgraFlora. Mr. Boddy has been mandated with accelerating the Company's licensed domestic cannabis production activities, as well as actively championing various corporate initiatives, including:
- Creating accretive shareholder value by way of mergers and acquisitions ("M&A");
- Implementing the company's domestic and international supply chains processes; and,
- Executing on high-margin European downstream opportunities.
As a Co-Founder of Auxly Cannabis Group Inc. ("Auxly"), formerly Cannabis Wheaton Income Corp., Mr. Boddy was instrumental in raising over $300 million in capital, as well as spearheading an array of corporate development and M&A initiatives. Auxly is globally recognized as a premier vertically integrated cannabis company and at its zenith achieved a market capitalization of over $1.8 billon.
The Company also announces that Mr. Derek Ivany , is stepping down as President, CEO and a Director of AgraFlora. Mr. Ivany will remain engaged with AgraFlora in a formal consultative capacity, specifically tasked at overseeing the internal knowledge transfer process, as well as managing the Company's diverse investment portfolio. In addition, Derek will continue to lead Natures Hemp Corp., which is progressing with its mandate within the holistic medicinal natural health-oriented Hemp and CBD segment. Natures Hemp was spun out to the shareholders of AGRA on August 28, 2018 and is a reporting issuer in Alberta , British Columbia and Ontario.
"It has been a sincere pleasure to have dedicated the last four years of my life to the business of AgraFlora," said Derek Ivany . "Through the hard work and dedication of our extraordinary team we have been able to successfully navigate the regulatory complexities of this burgeoning industry in order to position AGRA as a licensed, mainstay player in the Canadian cannabis sector, equipped with the second largest cannabis greenhouse in Canada . Brandon's knowledge of all spheres of the capital markets space, his clear ability to execute and his entrepreneurial nature, along with a demonstrated capacity to lead and delegate in dynamic and growing organizations represent the skill sets that AgraFlora needs as it moves towards production and sales. I am confident in the track record that Brandon brings to the Company and am excited to be working alongside him in order to ensure continued success to the benefit of all stakeholders."
"I am ecstatic to be joining AgraFlora as Chairman and CEO and look forward to leveraging my many years of venture formation and operational experience, coupled with an extensive network of institutional investors to further advance AgraFlora's pursuit of vertically integrated cannabis operations," said Brandon Boddy , newly appointed Chairman and CEO of AgraFlora. "The 2,200,000 square foot Delta Greenhouse Complex is slated to be one of the largest and most advanced cannabis cultivation operations worldwide and will act as a springboard for the continued integration of upstream, mid-stream, construction and downstream capabilities. I would like to personally take this opportunity to applaud Derek for his tremendous accomplishments in developing AgraFlora's business to date."
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
Chairman & 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.
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