AgraFlora Organics International Inc (CSE:AGRA) (OTCPINK:AGFAF) (FRA:PU31) reported that it expects to roll out the first cannabis sales in mid 2Q 2021 from cultivation operations at the Propagation Services Canada (PSC) facility in Delta, British Columbia.
The company said based on the data collected from its 4Q 2020 harvest, it expects to cultivate 10,000 plants and aims to yield 50 grams per plant of saleable product in 2021.
“Our data shows that timing is right in the market for our product. Currently >20% THC cannabis flower varieties rising in value and we aim to solidify good partners for our product and also take advantage of the robust spot market,” AgraFlora Board of Directors said in a statement.
AgraFlora added that the grow team at the Delta Facility believes that their multi-generational experience and favourable growing environment will boost PSC to become a leader in pricing low cost, high-THC cannabis.
AgraFlora’s 2021 Phase 1 guidance also includes:
- PSC to complete dry room infrastructure slated to provide capacity for ~500,000 grams of dried saleable product;
- Projected to begin executing on wholesale transactions in May 2021;
- PSC strategy remains to be positioned as the leader in pricing of low-cost, high THC cannabis for 2021;
- AgraFlora to release 5 different varieties for first sale to wholesale partners
The company noted that it will begin utilizing its recently-received agriculture loan to complete the Phase 1 rollout of infrastructure required for saleable product, and will begin upgrading the dry rooms at the Delta Facility to hold a capacity of 500,000 grams of dry saleable high potency varieties.
AgraFlora Organics International grows, distributes and markets premium cannabis and cannabis-infused products. Its strategy is two-pronged: supply the Canadian recreational market with high-potency flower and edible products, while serving the European medical cannabis market.
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