AgraFlora Organics International Inc. (AGRA) recently announced the acquisition of more than 180 kinds of medical marijuana seeds from a British Columbia-based privately held genetics agency on the Sunshine Coast. The deal sees AgraFlora Organics scoring a unique genetics acquisition from Vendure Genetics Labs for a broad variety of cannabis seeds cultivars with various THC and CBD profiles. These high and low dosage profiles of each substance supply some product sorts for multiple sorts of medical marijuana customers.
Apart from THC and CBD content, the 184 breeds embrace quite a lot of terpene profiles for various flavors and smells which are presently out there within the Canadian leisure and medical markets.
Altering the terpene profile of dried flower cannabis product has been a significant focus of analysis and improvement for corporations within the marijuana industry for the reason that passage of the Cannabis Act legalized adult-use of cannabis nationwide.
The potential of terpenes to lure in constructive buyer interactions was highlighted when the bitter diesel flavored Ruxton 3 product from Broken Coast Cannabis won the Top Reviewed Product slot on the Canadian Cannabis Awards 2018.
Chief Executive Officer of AGRA, Derek lvany, commented on the newly acquired cannabis seed varieties:
“The library permits us to work with different licensed producers and help our propagation enterprise with quite a lot of high-quality strains. Plant genetics is a key enterprise driver of the medical marijuana business, and by making this acquisition, we’re establishing a management place within the Canadian market.”
The corporate modified names from PUF Ventures Inc. to AgraFlora in November when preliminary cultivation of medical marijuana merchandise started at a London, Ontario facility and work commenced on a three-phase retrofit of one other current facility in BC.
The retrofit will see a 2,200,000 square-foot construction addition transformed right into a cannabis seeds greenhouse to ramp up total medical cannabis manufacturing. The primary section is scheduled to be accomplished by the end of Q1 2019, with the second part scheduled to wrap up by the end of the approaching 12 months.
The venture is being funded by a $40 million fairness participation and earn-in settlement with Delta Organic Cannabis. The initial $12.5 million tranches of that deal closed in late October.
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