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AgraFlora to Acquire Assets of Organic Flower to Include Interest in Delta Greenhouse Complex.

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Vincent

MANews-(C)2009-2019

29 May 2019 - Canada-based cannabis-focussed company AgraFlora Organics International Inc. (CSE: AGRA) (FWB: PU31) (OTCPK: PUFXF) has entered into a binding letter of tent to purchase 100% of the assets of Canada-based investments holding company Organic Flower Investments Group Inc. (CSE: SOW) (FWB:2K6) (OTC: QILFF), the company said.

Organic Flower's assets include the company's 20% interest in the Delta Greenhouse Complex, an array of domestic downstream/product formulation operations and the rights to an trans-European distribution network.

It is anticipated that the sale price for the assets will be comprised of 1.15 shares of Agraflora for each one issued and outstanding share of OFIG at the time of closing with the Consideration Shares to be distributed to the shareholders of the company.

The Proposed Transaction will reunite 70% of the 2.2m square foot Delta, British Columbia greenhouse complex, under the AgraFlora corporate umbrella. The combined company's interest in 2020-funded production of the Delta Greenhouse Complex is forecasted to be 175m grams of premium dried cannabis flower.

The combined entity will be equipped with world-class upstream cultivation assets and diverse downstream capabilities that will act as a beachhead into the 700m person European marketplace, as well as crystalise a distinctive first mover advantage within the edibles, cannabinoid-infused beverage and product formulation market...

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