AgraFlora Organics International Inc. announced that Propagation Services Canada Inc., the Company’s flagship cultivation asset located in Delta, British Columbia (the “Delta Facility” or “PSC”) has received an Agriculture Loan (the “Loan”) to bring its cannabis cultivation to market and continue Phase 1 of the Company’s cultivation strategy. As part of the Loan, the Delta Facility will receive $5,000,000 which will provide full funding to the licensed cultivation areas and will allow the PSC team to bring their first crop of low cost, high potency cannabis to market, on a wholesale basis, in Q1 2021.
The curated portfolio of elite genetics at the Delta facility has been tailored to work with PSC’s Delta based infrastructure and utilizing 422,828 sq. ft. of cultivation space with state-of-the-art semi-pressurized, semi-open Venlo greenhouses. The AgraFlora Board of Directors commented that “Having a fully funded Phase 1 cultivation strategy allows us to deliver high potency cannabis strains in 2021. As partners at PSC, we have full confidence in the Houwelings family’s ability to achieve this strategy, given their long history of high-quality agricultural production in low-cost environments, as well as the healthy condition of our award winning genetics.”
With demand for high potency product trending upward especially within the value pricing segment, PSC is uniquely positioned to produce a compelling value proposition for wholesale customers: high potency cannabis with desirable strains at a competitive price.
AgraFlora Organics International Inc. is a 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. https://agraflora.com/.
Propagation Services Canada is a joint-venture formed between AgraFlora and the Houwelings Group, one of North America’s leading producers and innovators in the greenhouse vegetable production industry.