CSE New Listing - Organic Flower Investments Group Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 25, 2019) - Organic Flower Investments Group (CSE: SOW) (OTC Pink: QILFF) is one of the latest new listing on the Canadian Securities Exchange, having previously traded as Q Investments on the TSX Venture Exchange. The company, an investment holding firm, specializes in providing early-stage financing to private and public companies engaged in a variety of industries, with a focus in the bio-medical, pharmaceutical, and naturopathic sectors, which may include medical or recreational cannabis.
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Organic Flower has entered into an agreement with Delta Organic Cannabis Corp., a privately held Toronto-based cannabis investment company, to purchase 7.5 million shares at $1.00 per share. This represents approximately 37.5% of the outstanding equity of Delta Organic Cannabis.
Delta Organic's sole asset is an equity participation and earn-in with AgraFlora Organics International Inc. (CSE:AGRA), a growth-oriented and diversified company focused on the international cannabis industry. AgraFlora is developing a large scale 2.2 million square foot commercial medical cannabis cultivation operation in Delta, British Columbia.
The retrofit of the 2.2 million square foot complex is to be completed in three phases:
• Phase 1 includes the retrofit of 350,000 square feet, including 100,000 post-production facilities, with completion scheduled for the 2nd quarter of 2019;
• Phase 2 includes an additional 1,450,000 square feet to be completed by the 4th quarter of 2019;
• Phase 3 consists of 400,000 square feet scheduled for completion in the 2nd quarter of 2020.
To date Delta Organic has advanced $12.5 million for approximately 27.9 million shares of AgraFlora and will advance a further $27.5 million for 61.3 million shares of AgraFlora under the terms of the Earn-In Agreement. The $7.5 million investment by Organic Flower will be used by Delta to fund the second tranche of their investment into AgraFlora. In addition to an equity interest in AgraFlora itself, Delta Organic will receive a 20% direct interest in the facility itself. Additionally, AgraFlora has ownership in several cannabis companies, including AAA Heidelberg and Propagation Services Canada in Canada, a large-scale greenhouse project in Australia, and is actively pursuing other opportunities within the cannabis industry.
The company recently closed the first tranche of its non-brokered private placement, raising gross proceeds of $5,369,630 from the placement of 17,898,766 units priced at $0.30 per unit. Each unit consisted of one share and one warrant, with the warrant exercisable at $0.65 for 24 months.
For more information, please contact the company at 604-687-2038.
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