AgraFlora Appoints Elise Coppens as New CEO and Director to Implement the Next Phase of its Corporate Strategy

Rhea-AI Summary

AgraFlora Organics International announced the appointment of Elise Coppens as its new CEO effective March 8, 2021. Coppens, with previous roles at Bloomera and Aurora Cannabis, aims to implement a new corporate strategy. Former CEO Brandon Boddy will assist with the transition. AgraFlora has also engaged Meadowbank Strategic Partners for investor relations and corporate development services for three months, with a fee of $3,500 per month. The company's focus remains on building shareholder value in the Canadian cannabis market.

Positive

• Elise Coppens brings extensive experience in the cannabis industry, potentially strengthening AgraFlora's leadership.
• The engagement of Meadowbank for investor relations may improve the company's market visibility and stakeholder communications.

Negative

• The departure of Brandon Boddy may raise concerns about leadership continuity and experience gaps during the transition.
• The search for a new Chairperson and Corporate Secretary may create temporary leadership vacuums.

VANCOUVER, British Columbia, March 08, 2021 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that Elise Coppens has been appointed as AgraFlora’s new Chief Executive Officer (“CEO”) and a member of the Company’s board of directors (“Director”) effective March 8, 2021, subject to the final acceptance of the Canadian Securities Exchange (the “CSE”). During her career in the Canadian cannabis industry, Ms. Coppens’ roles have included but are not limited to serving as President of Bloomera, Marketing Director for Aurora Cannabis and the Director of International Sales for Ample Organics.

“I would like to thank the board of AgraFlora for welcoming me to the organization and I look forward to implementing my vision for the Company immediately. AgraFlora has great assets and human capital, and with that foundation I am confident that we can add great value to the Company for the benefit of all stakeholders,” said Elise Coppens, CEO of AgraFlora. “My near-term mission is to establish a new set of goals and priorities for the Company, based on a clear corporate strategy that is appropriate for the evolving competitive landscape,” added Ms. Coppens.

AgraFlora’s former CEO, Chairman and Corporate Secretary, Brandon Boddy, has amicably agreed to depart the Company in order to facilitate Ms. Coppens’ transition as AgraFlora’s new leader. “I would like to warmly welcome Elise to AgraFlora and am excited to have someone of her calibre take over the leadership of this Company. Under her direction, AgraFlora will be better positioned for growth and success both in the Canadian and international cannabis marketplaces,” said Brandon Boddy, outgoing CEO, Director, Chairman and Corporate Secretary of AgraFlora. Accordingly, the roles of Chairperson and Corporate Secretary shall remain vacant until such a time as the Company has completed the search to fill the roles either on a combined or separate basis.

Further, AgraFlora has recently engaged Meadowbank Strategic Partners Inc. ("Meadowbank"), a corporate consultancy based in Calgary, Alberta, to provide investor relations, capital markets and corporate development advisory services for an initial term of three months, pursuant to the terms of the consulting agreement entered into between the Company and Meadowbank (the "Agreement"). Certain functions and aspects of Meadowbank’s services are anticipated to include "investor relations activities" under the policies of the CSE and applicable securities laws.

Under the terms of the Agreement, Meadowbank will be paid a minimum of $3,500 plus GST in cash per month, or a minimum of $10,500 plus GST in aggregate, for its services. Meadowbank will not receive any securities in the capital of the Company as compensation for its services. Neither Meadowbank nor its principal currently own any securities of AgraFlora, however, Meadowbank, its principal and its affiliates may acquire or be awarded an interest in the securities of the Company at a future time. Meadowbank and AgraFlora are unrelated and unaffiliated entities.

About AgraFlora Organics International Inc.

AgraFlora Organics International Inc. is a leading cannabis company building shareholder value through the development of revenue generating operating assets in the global cannabis industry. AgraFlora is focused primarily on the Canadian cannabis industry – the world’s most advanced and regulated legal cannabis market. Flagship Canadian assets include: Edibles & Infusions, a fully automated manufacturing facility in Winnipeg, MB for white-label and consumer-branded edibles production; Propagation Services Canada, a large-scale commercial greenhouse in Delta, BC focused on reshaping the Canadian flower market with high-potency, low-cost cannabis; and AAA Heidelberg, a craft-focused cannabis producer in London, ON. In addition, AgraFlora’s wholly-owned subsidiary, Farmako GmbH, is focused on becoming Europe’s leading distributor of medical cannabis. Farmako currently has active distribution operations in Germany and expects to commence active operations in the United Kingdom in 2021. For more information about AgraFlora, please visit agraflora.ca and its profile page on SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Nick Kuzyk, Investor Relations
E: ir@agraflora.ca
T: (800) 783-6056

For French inquiries:
Maricom Inc.        
Remy Scalabrini                                                
E: rs@maricom.ca
T: (888) 585-MARI

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement
Except for statements of historic fact this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan” “expect” “project” “intend” “believe” “anticipate” “estimate” and other similar words or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including but not limited to delays or uncertainties with regulatory approvals including that of the CSE. There are uncertainties inherent in forward-looking information including factors beyond the Company’s control. There are no assurances that the business plans for AgraFlora Organics described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators which are available at www.sedar.com.

FAQ

What is the significance of Elise Coppens' appointment as CEO of AgraFlora (AGFAF)?

Elise Coppens' appointment brings extensive industry experience that could lead to strategic enhancements and improved performance for AgraFlora.

What changes occurred in AgraFlora's leadership on March 8, 2021?

On March 8, 2021, Elise Coppens was appointed CEO, while former CEO Brandon Boddy stepped down to facilitate her transition.

What services will Meadowbank provide to AgraFlora following their engagement?

Meadowbank will provide investor relations, capital markets, and corporate development services to enhance AgraFlora's market presence.

How might the leadership change at AgraFlora impact its stock symbol AGFAF?

Leadership changes can influence investor confidence and market perception, potentially impacting the stock performance of AGFAF.