The Firm Congratulates the New German Authorities for Making the Legalization of Leisure Hashish and Improvement of a Regulatory Framework a Precedence for the Nation within the Close to Time period
VANCOUVER, British Columbia, Feb. 11, 2022 (GLOBE NEWSWIRE) — Agra Ventures Ltd. (“AGRA” or the “Firm”) (CSE: AGRA) (OTC: AGFAF) (FRA: PU30), a growth-oriented and diversified firm targeted on the worldwide hashish business, is happy to announce that its wholly owned subsidiary, Farmako GmbH (“Farmako”), is properly positioned to profit from Germany’s deliberate legalization of leisure hashish as the brand new Chancellor of Germany, Olaf Scholz, has just lately vowed to make the change a prime precedence. The legalization of leisure hashish in Germany would allow Farmako to increase its providing of hashish extracts and dried flower in addition to CBD and THC Testkits, whereas doubtlessly additionally rising the manufacturing and distribution of different hashish merchandise and equipment. Based mostly in Frankfurt, Farmako is a GDP-certified pharmaceutical wholesaler that’s at present targeted on the medical hashish market to facilitate affected person entry to dependable cannabinoid therapies and supply help to healthcare professionals.
The brand new German authorities is a coalition of three events together with the German Social Democrats, the German Free Democrats, and the Inexperienced Occasion. Historically, the German authorities has been extra conservative and, due to this fact, this shift within the mixture of its ruling political events is anticipated to end in substantial modifications. In a current survey by infratest dimap, 49% of German residents are in favor of recreation hashish legalization. In 2014, solely 30% of German residents have been in favor of legalization, which signifies that medical hashish legalization and its use, in addition to extra analysis and understanding of hashish and its advantages, have been revolutionary within the eyes of German residents.1
As of 2016, hashish for medicinal functions has been authorized in Germany, nevertheless, additional decriminalizing hashish for leisure use is now a precedence for the nation’s new authorities inside the subsequent two years. The German financial system is anticipated to profit from the change in regulation as it’s projected that the federal government might earn $5 billion Euros yearly in tax income and lower your expenses on policing.2 Not solely do particular person companies like Farmako stand to profit from the legalization of leisure hashish in Germany, however its financial system is predicted to develop, crime charge is forecasted to lower and an estimated 27,000 new jobs are anticipated to be created.3
Extra particulars on Farmako’s merchandise could be discovered on its web site at www.farmako.de/en/.
Administration Commentary
“Legalization of hashish for leisure use in Germany is one thing that Farmako will certainly be joyful to help and assist to make occur. If hashish is legalized and German residents can get behind its accountable use primarily based on a strong framework as we anticipate it, then we as a pharmaceutical hashish supplier are finest positioned to import and provide our merchandise to a considerably elevated shopper base,” stated Katrin Eckmans, Managing Director of Farmako GmbH. “Sustainable manufacturing, highest medical high quality and inexpensive pricing have at all times been priorities for our crew, and legalization is anticipated to make it extra environment friendly and efficient for us to make a distinction,” added Ms. Eckmans.
“It solely appears proper for Germany to observe in Canada’s footsteps in terms of the legalization of hashish for leisure functions. We’ve got seen how the addition of medical hashish has benefited Germany in each financial and medicinal elements, and AGRA believes that leisure hashish will carry extra constructive outcomes for Germany similar to it has for Canada,” stated Elise Coppens, Chief Govt Officer and Director of AGRA.
Settlement Settlement
The Firm additionally declares that it has entered right into a settlement settlement (the “Settlement”) to resolve excellent authorized claims in opposition to the Firm’s wholly owned subsidiary, Sanna Well being Corp. (“Sanna”), initiated by a former Govt of Sanna (the “Former Govt”). Pursuant to the Settlement, the Firm shall difficulty to the Former Govt 552,609 widespread shares of the Firm (the “Settlement Shares”) along with a money cost. The Settlement Shares can be issued at a deemed value per share of $0.4524. The Settlement Shares won’t be topic to a 4 month plus at some point maintain because the Firm is counting on the prospectus exemption for workers pursuant to Part 2.24 of Nationwide Instrument 45-106 – Prospectus Exemptions.
About Farmako
Farmako GmbH is a GDP licensed pharmaceutical wholesaler, specializing in medical hashish and aiming at facilitating entry to dependable cannabinoid remedy to sufferers with a excessive burden of struggling in addition to offering environment friendly help to healthcare professionals: by way of truthful costs, dependable product high quality and the flexibility to provide in addition to environment friendly service. It has already distributed medical hashish to pharmacies in Germany since March 2019 and is absolutely licensed in the UK. Farmako is a completely owned subsidiary of Agra Ventures Ltd. For extra data please go to: www.farmako.de/en/.
About Agra Ventures
Agra Ventures (CSE: AGRA) is a growth-oriented and diversified firm targeted on the worldwide hashish business. The corporate is devoted to the cultivation, distribution and advertising and marketing of high-quality hashish and cannabis-infused merchandise worldwide. Agra Ventures’ main asset in Canada is Boundary Bay Hashish positioned in Delta, BC, which is among the largest hashish greenhouse services targeted on the cost-optimized cultivation of high-potency hashish. Overseas, the corporate’s wholly owned subsidiary, Farmako GmbH, is targeted on changing into Europe’s main distributor of medical hashish. Farmako at present has lively product distribution operations in Germany and is absolutely licensed in the UK.
For extra details about Agra Ventures, please go to www.agraventures.com and its profile web page on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Nick Kuzyk, Investor Relations
E: ir@agraventures.com
T: (800) 783-6056
The CSE and Data Service Supplier have not reviewed and does not settle for accountability for the accuracy or adequacy of this launch.
Ahead-looking Data Cautionary Assertion
Besides for statements of historic reality this information launch comprises sure “forward-looking data” inside the which means of relevant securities regulation. Ahead-looking data is incessantly characterised by phrases such as “plan” “anticipate” “mission” “intend” “imagine” “anticipate” “estimate” and different related phrases or statements that sure occasions or situations “could” or “will” happen. Ahead-looking statements are primarily based on the opinions and estimates at the date the statements are made and are topic to a wide range of dangers and uncertainties and different components that might trigger precise occasions or outcomes to vary materially from these anticipated within the forward-looking statements together with however not restricted to delays or uncertainties with regulatory approvals together with that of the CSE. There are uncertainties inherent in forward-looking data together with components past the Firm’s management. There aren’t any assurances that the enterprise plans for Agra Ventures described in this information launch will come into impact on the phrases or timeframe described herein. The Firm undertakes no obligation to replace forward-looking data if circumstances or administration’s estimates or opinions ought to change besides as required by regulation. The reader is cautioned to not place undue reliance on forward-looking statements. Extra data figuring out dangers and uncertainties that might have an effect on monetary outcomes is contained within the Firm’s filings with Canadian securities regulators which are accessible at www.sedar.com.
Endnotes
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“Legalization of hashish”, infratest dimap, October 29th, 2021, https://www-infratest–dimap-de.translate.goog/umfragen-analysen/bundesweit/umfragen/aktuell/legalisierung-von-cannabis/?_x_tr_sl=de&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
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C.F. Schuetze, “German Begin-Ups Lay the Groundwork for a Marijuana Bonanza”, The New York Occasions, January 5th, 2022, https://www.nytimes.com/2022/01/05/world/europe/germany-legalize-recreational-marijuana.html
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C.F. Schuetze, “German Begin-Ups Lay the Groundwork for a Marijuana Bonanza”, The New York Occasions, January 5th, 2022, https://www.nytimes.com/2022/01/05/world/europe/germany-legalize-recreational-marijuana.html
SOURCE: Agra Ventures Ltd.