VANCOUVER, Jan. 10, 2019 /CNW/ - Agrios Global Holdings Ltd. (CSE: AGRO) ("Agrios" or the "Company") is pleased to announce the appointment of Andrew Lange as Chief Technical Officer, (the "CTO") of the Company.
Andrew studied Bioengineering and Genetics at the University of Iowa, and while still in school, he started his first company building bioreactors and custom aquariums. Since then, he has created and lead several successful companies in numerous industries including mechanical design, engineering, construction, real estate development, and biotechnology. Andrew has designed and engineered over 2 million square feet of fully automated indoor cultivation space. He is an authority on aeroponic cultivation in the cannabis sector and has applied his expertise to adapt aeroponic systems for the cultivation of numerous high value crops.
Chris Kennedy President & CEO of Agrios stated, "It has been a pleasure working with Andrew on a consulting basis to date, and we are very pleased to welcome Andrew as our full time CTO. Andrew's vast experience in aeroponics, design and engineering, and cultivation provides Agrios and our agronomy team with excellent long-term guidance allowing us to provide cutting edge technology and services to our valued clients."
The Company also announces that it has granted 1,250,000 stock options at a price of C$0.45 to consultants and employees of the Company to purchase an aggregate 1,250,000 common shares in the capital of the Company. 400,000 of those stock options are exercisable for a term of 5 years at an exercise price of C$0.45 per share and are subject to certain vesting conditions while 850,000 of those stock options are exercisable for a term of 2 years at an exercise price of C$0.45 per share and vest immediately. All stock options are granted in accordance with the terms of the Company's stock option plan and the policies of the CSE. The stock options granted are also subject to a four-month-and-a-day hold period from the date of grant in accordance with applicable securities laws
About Agrios Global Holdings Ltd.
Agrios Global Holdings is a data analytics driven agriculture technology and services company advancing the latest innovations in indoor growing science. The Company owns, leases and manages properties and equipment for eco-sustainable agronomy and provides advisory services to support all aspects of aeroponic cultivation in the cannabis sector. Agrios is actively pursuing new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions. Based in Vancouver, BC. Agrios is managed by a highly accomplished team of experienced industry and capital markets experts who are committed to the growth of the company.
This news release was prepared by management of Agrios, which takes full responsibility for its contents. The Canadian Securities Exchange (" CSE ") has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Agrios' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to corporate strategy and Agrios' ability to execute such strategy, future developments regarding Agrios' market expansion into Asia, expected costs of hemp fiber, intended development and sales of hemp products, market demand for hemp products, and the business and operations of Agrios as it relates to the Yunnan Province.
Although Agrios has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Agrios disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Agrios does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE Agrios Global Holdings Ltd.
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