I guess my post was accidentally timely - PUFXF breaking out, up 20% on 6x volume.
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AgraFlora Organics Provides Corporate Update
Ryan Allway
February 28th, 2019
VANCOUVER, Feb. 28, 2019 /CNW/ – AgraFlora Organics International Inc. (the “ Company “) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis company, is pleased to provide an update to recent corporate activities and to the previously announced Equity Participation and Earn-In Agreement with Delta Organic Cannabis Corp. (“DOCC”) for up to a $40 million investment at a price of approximately $0.45 per share for the retrofit of a large-scale medical cannabis cultivation operation in Delta, British Columbia.
Concurrently with the retrofit of the 2,200,000 square foot greenhouse complex located in Delta, BC, the Company has reached several important milestones in the past four months:
- $20 million investment received from DOCC for the previously announced Equity Participation and Earn-In Agreement,
- Cannabis supply agreement signed with Namaste Technologies for up to 25,000,000 grams of cannabis or 10% of total production from the Delta Greenhouse Complex for $4 per gram,
- Engaged good manufacturing practices (GMP) facility experts to design post production exports for the European Union (EU) in preparation for the first crop of cannabis to be planted at its the large-scale Delta Greenhouse Complex,
- Acquired the remaining interest in licensed producer AAA Heidelberg making it a wholly owned subsidiary,
- Propagation supply agreement signed with Cabbay Holdings Corp. to supply high-CBD cannabis plants for a 5-acre outdoor grow operation,
- Letter of intent executed with Blox Labs to build a best-in-class team of professionals to manage and operate state-of-the-art agricultural greenhouse facilities,
- Formed Glow Life Technologies in partnership with Relay Medical Corp. to pursue medical related technology opportunities in the global cannabis sector,
- Large library of cannabis seed varieties from diverse lineages acquired from a private genetics firm.
In addition, AgraFlora expects to be in receipt of the balance of the funds of the financing ($20 million) by March 31, 2019. Due to the size and complexity of the transaction, additional time is required to complete the transaction.
“We have made considerable progress over the past four months as we moved from an AMCPR applicant to an innovative high-quality licensed cannabis producer,” said Derek Ivany, President and CEO of AgraFlora Organics. “We continue to move aggressively to prepare the Delta Greenhouse Complex for its first cannabis crop. We are focused on installing an advanced security system along with state-of-the-art lighting, watering and air purification technology to meet and exceed all regulatory and industry standards. We are also pursuing cannabis supply agreements with domestic and international customers in preparation for the first crop to be planted in Delta, BC. I would like to thank the project team for all their work and effort to keep the conversion of the Delta Greenhouse Complex on schedule and on budget. When at full capacity the Delta facility will be the second largest cannabis production site in Canada.”
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.
AgraFlora (PUFXF and AGRA.C) continues its breakout. Up another 15% on strong volume. This will be at least a 10-bagger in 18 months. Word is getting out.
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Rick, I was looking at this a little while ago and didn’t jump in maybe its time looks good
I’m waiting for a pullback because it has run well over the past couple weeks. But at the same time I was saying that at .25 and .28. And if I think the eventual price will be multiples higher, then I guess it doesn’t matter in the long run, but I do want to try to maximize my cost basis. Profit taking has to come in at some point.
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Looking good on AGRA, I got in early yesterday thinking it was going to pull back today but didn’t:grin:
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Picking up more PUFXF on this pullback here at .35
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AgraFlora Organics to Explore International Listing
NEWS PROVIDED BY
AgraFlora Organics International Inc.
Mar 08, 2019, 17:19 ET
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VANCOUVER, March 8, 2019 /CNW/ - AgraFlora Organics International Inc. (the " Company ") (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis company, is pleased to announce its intension to pursue a public listing on a major international stock exchange. Management is currently analyzing the strategic advantages of a potential listing on the Nasdaq, the New York Stock Exchange or the AIM, a division of the London Stock Exchange (LSE).
“We are focused on building a leading international medical cannabis company and a listing on a major U.S. exchange or the AIM would significantly expand our global presence,” said Derek Ivany, President and CEO of AgraFlora Organics. “An international listing provides access to international shareholders and capital and will increase long term shareholder value by significantly increasing market awareness, liquidity and by attracting a broader audience of investors. The Delta Greenhouse Complex conversion continues at an aggressive pace and we continue to be on schedule to have the first phase complete by the end of June.”
AgraFlora has initiated due diligence on the Nasdaq, the New York Stock Exchange and the AIM, a division of the London Stock Exchange. The management team will examine all listing options and will select the stock exchange that will provide the Company with the most long-term benefits.
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
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In regards to the AgraFlora stock, can someone tell me why the outstanding shares varies between sites. I see 340 million outstanding shares on yahoo finance. On E-trade it shows 10 million.
Not sure why they vary specifically, but they are obviously getting their counts from different sources.
I would go with what the company has filed on Sedar.com, but I haven’t seen the 4th Quarter 2018 filings yet. The Q3 filings have 296 million OS, but other sources (Bloomberg, MarketWatch) have 371 million. Not sure where Bloomberg and MW are getting their counts from though.
VANCOUVER, March 20, 2019
VANCOUVER, March 20, 2019 /CNW/ - AgraFlora Organics International Inc. (" AgraFlora ") (the " Company “) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis company, is pleased to announce it is acquiring an additional 10% of the shares of Propagation Services Canada Inc. (” PSC “) for $14 million payable by common shares of AgraFlora at a price of $0.68 per share, equivalent to 20,588,235 common shares. The transaction has been agreed to in principle and approved by both boards of directors of AgraFlora and PSC. Following the transaction, the ownership of PSC will consist of AgraFlora as to 60%, the Houwelings Partnership Group as to 30% and the investors of Delta Organics Cannabis Corp. (” DOCC ") as to 10%.
“It is important for AgraFlora to continue to have a majority stake in the joint venture company Propagation Services Canada,” said Derek Ivany, President and CEO of AgraFlora. “The Delta Greenhouse Complex will become our marquee facility with 2.1 million square feet of greenhouse space and 100,000 square feet in production facilities. Progress on the retrofit continues to be on target and we expect to submit our licensing application video to Health Canada by the end of June.”
AgraFlora is issuing common shares at $0.68 per share which is an approximate 53% premium to the shares paid to DOCC at $0.445 for its 20% purchase of PSC, as announced in November 2018. The 10% acquired by AgraFlora comes from four shareholders of PSC who have shown confidence in the AgraFlora management team by converting their PSC shares into shares of AgraFlora. This is an arm’s length transaction and no finder’s fees are to be paid.
Upon closing the final $20 million payment of a previously announced financing, DOCC will receive an additional 10% from AgraFlora and AgraFlora will remain the majority shareholder with a 50% ownership position of PSC, with the Houwelings Partnership Group with 30% and the investors of DOCC with 20%. AgraFlora’s 50% ownership of PSC will entitle it to 50% of the annual estimated production of 250,000,000 grams from the Delta Greenhouse Complex.
Company 2020 Estimated Annual
Capacity (in grams) Current Market
Capitalization (in CAN)
1 Aurora Cannabis 700,000,000 $9,363,165,980
2 Canopy Growth Corp. 525,000,000 $21,086,608,500
3 Aphria 255,000,000 $3,431,750,100
4 AgraFlora & PSC* 250,000,000 $274,616,000
5 Tilray 225,000,000 $9,363,165,980
6 The Green Organic Dutchman 195,000,000 $1,487,491,200
7 Cronos Group 150,000,000 $9,449,098,000
8 OrganiGram Holdings 113,000,000 $1,359,645,800
9 Hexo Corp. 108,000,000 $1,936,048,000
10 CannTrust Holdings 105,000,000 $1,375,432,800
(*2021, data source: public filings, company estimates, Motley Fool, Marijuana Index)
About Propagation Services Canada Inc.
Propagation Services Canada is a joint venture company focused on the cannabis flower and propagation market in Canada. Its Delta Greenhouse Complex covers approximately 2.2 million square feet and is one of the most technologically advanced greenhouses in North America, with an experienced staff, full propagation services, advanced HVAC, lighting and water systems and its own 8.8 MW powerplant.
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 Inc. 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
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Thanks for posting DoneDeal. The 2020 Estimated Annual Capacity vs Market Cap table illustrates just how undervalued AgraFlora is (or how overvalued the competitors are if that is one’s take). Regardless, that is why I’ve jumped in responsibly heavy into PUFXF and have been buying the dips.
The stock is still way under the radar, though savvy investors who are looking for hidden gems in the cannabis sector are starting to discover the AgraFlora story. Additionally, it was recently added to the Horizons Marijuana Life Sciences Index ETF which will give it even more credibility and exposure.
https://finance.yahoo.com/news/horizons-etfs-rebalances-horizons-marijuana-201400609.html
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Totally agree guys this is a hidden gem, I was looking at this on the Canadian side at .45 and got in @.47. I added again today thinking this could be 1.20 short term well under valued IMHO
Thanks for the heads up!! Always looking for early opportunity in this sector.
It got hit early this morning not sure why maybe a little profit taking.
PUFXF with a 20% or so retracement from the recent high of .64. This might be tempting to average down here, but I’m gonna hold off another day or two since I have more than I want and I neglected to lock in profits when .62 was staring me in the face.
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Is something giving you cause for concern Rick?
Since little bounce back this morning hopefully we can climb steadily from here
Has AgraFlora released 4 qtr 2018 financial statements? I can’t find them.
Haven’t seen them yet.