VANCOUVER, British Columbia, September 27, 2019 – Organic Flower Investments Group Inc. (CSE: SOW)(FWB: 2K6)(OTC: QILFF) (“Organic Flower” or “OFIG” or the “Company”) reports that the Company’s principal investment, AgraFlora Organics International Inc. (“AgraFlora”) continues to achieve numerous operational and licensing milestones. Current and prospective investors are invited to visit the AgraFlora corporate website at http://www.agraflora.com.
Under the terms of the executed Asset Sale Agreement (the “ASA”) (see OFIG news release dated June 7, 2019), AgraFlora issued 1.15 common shares in the capital of AgraFlora for each one issued and outstanding share of Organic Flower (the “consideration shares”).
Given the strides made by AgraFlora and the present market realities which the OFIG board of directors does not feel reflect the value creation in the preceding quarter, OFIG anticipates making a formal determination regarding the record date for, and size of distribution of, some of its portfolio of investment assets, particularly AgraFlora, by the end of November 2019
The Company continues to analyse the performance of its portfolio of investments as a whole, evaluate certain tax, logistical as well as market considerations to best build shareholder value.
ABOUT ORGANIC FLOWER INVESTMENTS
Organic Flower is an investment company, that specializes in investing into 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. The Company’s investment activities will be primarily focused on enterprises in the legal cannabis space located in Canada. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments
ON BEHALF OF THE ORGANIC FLOWER INVESTMENTS GROUP INC. BOARD OF DIRECTORS
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Learn more about Organic Flower by visiting our website at: https://sowcannabis.ca/
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Notice Regarding Forward Looking Information:
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: political changes in Canada and internationally, future legislative and regulatory developments involving cannabis in Canada and internationally, AgraFlora’s ability to secure distribution channels in international jurisdictions, competition and other risks affecting AgraFlora in particular and the cannabis industry generally. Without limiting the generality of the foregoing, the forward-looking statements herein include, among other things, the ability to develop the Delta Greenhouse Complex and the successful integration of Organic Flower’s unique domestic downstream asset portfolio under the AgraFlora banner.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.