VANCOUVER, April 11, 2019 /CNW/ - AgraFlora Organics International Inc. ("AgraFlora" or the "Company") (CSE: AGRA) (Frankfurt: PU31) (OTCPK: PUFXF), a growth oriented and diversified international cannabis company, applauds the recently announced corporate rebranding of investee company Empower Clinics Inc. (CSE: EPW) (Frankfurt 8EC) to better reflect their refocused and refreshed corporate profile and streamlined strategy to become a vertically integrated health and wellness company offering cannabidiol (CBD) based therapies, products and treatment options. As part of the rebranding, Empower will seek shareholder approval for a name change to "CBD Therapeutics Corp." and it has changed its ticker symbol on the Canadian Securities Exchange to "CBDT". A new corporate website will also follow.
"AgraFlora committed $1 million as a lead strategic investor in the recent financing by Empower Clinics Inc. as we continue to expand our footprint through strategic partnerships and co-operation in the global cannabis sector," said Derek Ivany, President & CEO of AgraFlora Organics International Inc. "With the recent passing of the Farm Bill in the United States and the associated legalization of hemp and hemp based products, opportunities abound for the production and sale of a variety of CBD based products to the benefit of consumers' health and wellness. Recent reports indicate the Farm Bill could create an industry valued in excess of US$20 billion by 2022. We look forward to building a powerful strategic partnership with Steve and his team at CBDT to gain a growing share of this burgeoning market."
Empower has been re-positioning its overall strategy to become a vertically integrated health and wellness company that connects to its 120,000 patients using a data driven focus to improve patients' lives with products, technology and health systems. The name change will allow its patients, customers, shareholders, partners, team members and the investment community to have a simple and clear understanding of the Company's focus – a brand that is passionate about CBD based therapies, products and treatment options.
Empower has also launched a new website that is a better reflection of its health & wellness brand, providing users with a more functional and pleasant experience on desktop and mobile devices.
AgraFlora will work closely with CBD Therapeutics Corp. to launch new CBD based therapies, product and other health and wellness treatments through CBDT's growing network of clinics.
About Empower Clinics
Empower is a leading owner/operator of a network of physician-staffed clinics focused on helping patients improve and protect their health through innovative uses of medical cannabis. It is expected that Empower's proprietary product line "Sollievo" will offer patients a variety of delivery methods of doctor recommended cannabidiol (CBD) based product options in its clinics, online and at major retailers. With over 120,000 patients, an expanding clinic footprint, a focus on new technologies, including tele-medicine, and an expanded product development strategy, Empower is undertaking new growth initiatives to be positioned as a vertically integrated, diverse, market-leading service provider for complex patient requirements in 2019 and beyond.
About AgraFlora Organics International Inc.
AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Service Canada and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry. For more information please visit: www.agraflora.com.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
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Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
SOURCE AgraFlora Organics International Inc.
For further information: AgraFlora Organics International Inc., Tim McNulty, E: [email protected], T: (800) 783-6056; For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-MARI