Agraflora Organics International Inc (OTCMKTS:AGFAF) Reveals Plan To Acquire Eviana Health Corporation

Agraflora Organics International Inc (OTCMKTS:AGFAF) Reveals Plan To Acquire Eviana Health Corporation

Agraflora Organics
International Inc (OTCMKTS:AGFAF)
, an international firm that mainly
focuses on cannabis growth has announced a plan to take over Eviana Health

The company revealed that it plans to present an offer to Eviana
Health Corporation’s shareholders for the purchase of the firm’s outstanding
and issued common shares. Agraflora also revealed that its offer will allow
Eviana Health shareholders to receive Agraflora’s common shares as part of the

Agraflora is prepared to give 1.694915 of its common shares
to Eviana shareholders at $0.50 for every Eviana share. Additionally, Agraflora
is prepared to strike a deal at $0.295 as the share price for its stock as on
August 9 this year.

Eviana shareholders have an incentive to entertain the offer
because it provides a 49.25% premium on the market price. It also provides them
with access to a cannabis company that boasts of higher trading volumes and is
also heavily focused on growth. Agraflora is expected to hold talks with Eviana
over the next few days and will remain listed on the Canadian Stock Exchange if
the takeover goes through.

Agraflora signs CBD
distribution and commercialization Letter of intent

Agraflora announced on August 8 that it signed a non-binding
letter of intent for the commercialization and distribution of CBD. The company
revealed that it signed the deal with one of the largest food retailers in
Canada, known as the Canadian Food Retailer.

Agraflora opted to engage with Canadian Food Retailer about
the commercialization and distribution plans because it has a robust network of
physical stores. The terms of the letter of intent indicate that the two
companies will sign a Supply and Consulting deal, through which Canadian Food
Retailer will receive packaged CBD-infused goods from Agraflora.

“We are elated to announce that this prominent Canadian Food Retailer has selected AgraFlora as a potential partner of choice for CBD commercialization and distribution,” stated Agraflora CEO, Brandon Boddy.

The CEO pointed out that his company was an attractive pick
for Canadian Food Retailer because it has the right manufacturing capabilities,
human capital, and assets. The company also boasts of ample scaling capacity
for its manufacturing processes.

Published at Thu, 15 Aug 2019 12:04:44 +0000

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