Unlock stock picks and a broker-level newsfeed that powers Wall Street.
AgriCann's Craft Nurseries Completes Retrofit and Launches Premium Genetics Catalogue
Newsfile Corp.
3 min read
Vancouver, British Columbia--(Newsfile Corp. - May 11, 2022) - AgriCann Solutions Corp. (the "Company" or "AgriCann"), is pleased to announce commencement of commercial operations at wholly-owned subsidiary Craft Nurseries Canada Inc. ("CNC"), focused on supplying high-testing, unique, and in-demand cultivars to licensed cannabis producers across Canada and into emerging global markets.
Starting in Q4 2021 a complete reorganization at CNC was initiated that brought in new management, an experienced operations team and a more focused business plan to help position CNC as the preferred supplier of high-end genetics to the Canadian and international marketplace.
CNC's greenhouse facility completed a major retrofit designed to supply cut materials and to accommodate a planned structured breeding program, with the ability to pull an additional 60-plus new cultivars per year to facilitate strain rotations for our partners. To ensure the ability to introduce progressive new varietals CNC has initiated agreements with selected top breeders in western North America.
CNC's acquired genetics are primarily focused on "West Coast" strains known for their premium quality and high levels of THC ("FIRE") and Terpenes ("GAS"). Our sales catalogue now offers ~70 strains with cultivars characterized by their high potency potential, with most reaching THC levels ~ 30% and higher and offering unique terpene profiles that translate into amazing aromas and flavours.
All plant material is compliant with Health Canada regulations and have been secured in CNC's facilities to fulfill initial supply agreements. All strains held by CNC are screened for disease and genetic purity giving us an edge in the marketplace versus competitors. Along with our unique offerings, quality of product and breeding capacity helps position CNC as a unique and dominant company in the industry, with no known comparable companies in Canada currently. These strains are also in high demand internationally and offer superior profit margins.
CNC anticipates announcing supply agreements over the coming weeks and months and will ramp up production accordingly. CNC's initial milestone is to provide upwards of 50,000 plants per month to local growing partners. Our marketing/sales team is also finalizing royalty-based supply agreements with international partners contracting for rotational genetics.
CNC's Master Grower Henk Vander Waal commented: "With this exceptional strain catalogue Craft Nurseries can fill the genetic gap and offer cannabis producers across Canada the strains their customers all want and love. Our capital improvements allow us to implement strict quality controls into our production process, ensuring an optimal environment for our plants to thrive. Our goal here at Craft is to provide our customers with plants that we know they can succeed with."
AgriCann's EVP of Operations Adam Sancewicz commented on CNC's go-to-market strategy: "We're super excited to introduce our products to market and working with cultivators to help alleviate their pain points of sourcing premium, in-demand genetics. We're currently developing strategic alliances with players across Canada and globally to expand our distribution reach into Eastern Canada and foreign emerging markets. Taking into consideration the specific needs of different license types, we've developed flexible business models tailored to meet the unique needs for each market segment, allowing us to diversify our customer base with participants at various levels of the value chain. Extensive discussions with existing and prospective customers introducing the product pipeline have offered highly supportive feedback, that should provide all our stakeholders with great optimism for the future."
About AgriCann Solutions Corp. AgriCann Solutions Corp. is a "Reporting Issuer" created as result of a statutory plan of arrangement completed by The Valens Company in 2015. AgriCann acquired wholly owned subsidiary Craft Nurseries Canada Inc. ("CNC") in June 2021, licensed under the Cannabis Act and Cannabis Regulations to produce and sell unique premium cannabis genetics, including clones, pre-veg and veg plants, to licensed producers and retail stores. AgriCann has three potential acquisitions pending completion (see our June 25 2021 news release). AgriCann currently has 15,995,091 common shares outstanding.
ON BEHALF OF AGRICANN SOLUTIONS CORP.
(signed) "Rob van Santen" CEO & Director
For further information, please contact:
Adam Sancewicz Telephone: +1.778.231.5431
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law. The Company will provide further updates respecting these initiatives as developments occur. There can be no assurance that interests in any or all of these or additional projects being pursued will be acquired, funded and/or commercialized.
