Agra Ventures Appoints David Grand as Director and Chair of Board of Directors
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced the immediate resignation of Elise Coppens as Director and Chair of the Board. David Grand, previously appointed CEO, has stepped into the role of Director and Chair. Grand aims to strengthen the company’s financial position and will receive support from Coppens during the transition, as she will continue as a consultant for one year. Agra Ventures focuses on the cannabis industry, managing a significant greenhouse facility in Canada and operations in Europe through its subsidiary Farmako GmbH, which distributes medical cannabis.
- David Grand's appointment as Chair alongside CEO may provide strengthened leadership and continuity.
- Coppens will assist in the transition, ensuring a smooth leadership change.
- The abrupt resignation of Coppens raises concerns about potential continuity issues.
- Grand may face challenges in balancing his expanded roles without prior board experience.
VANCOUVER, British Columbia, July 12, 2022 (GLOBE NEWSWIRE) -- Agra Ventures Ltd. (“AGRA” or the “Company”) (CSE: AGRA) (OTC: AGFAF) (FRA: PU30), a growth-oriented and diversified company focused on the international cannabis industry, announces the resignation of Elise Coppens as Director and Chair of its Board of Directors, effective immediately. As a result of Ms. Coppens’ resignation, David Grand has been appointed as Director and Chair of the Board of the Company.
Mr. Grand was previously announced as being appointed as the Chief Executive Officer (“CEO”) of AGRA, which became effective on July 1, 2022. He will continue to maintain that role in addition to becoming Director and Chair of the Company. Ms. Coppens will assist Mr. Grand with the transition into his expanded role and will remain involved with the Company as a consultant, the engagement of which is effective immediately and is for an initial term of one year.
Management Commentary
“I’m excited to be taking over leadership of AGRA as its new CEO and now also as its Chair of the Board of Directors. My first priority will be to lead the creation of a plan with the primary goal of putting the Company in a stronger financial position,” said David Grand, CEO, Director and Chair of the Board of AGRA. “I would like to thank Elise for facilitating a smooth transition and for passing along all of her insights gained from leading the Company since early last year. I also look forward to learning from AGRA’s employees and advisors, which is an essential process that has already begun,” added Mr. Grand.
About Agra Ventures Ltd.
Agra Ventures is a growth-oriented and diversified company focused on the international cannabis industry. The company is dedicated to the cultivation, distribution and marketing of high-quality cannabis and cannabis-infused products worldwide. Agra Ventures’ primary asset in Canada is Boundary Bay Cannabis located in Delta, BC, which is one of the largest cannabis greenhouse facilities focused on the cost-optimized cultivation of high-potency cannabis. Abroad, the company’s wholly owned subsidiary, Farmako GmbH, is focused on becoming Europe’s leading distributor of medical cannabis. Farmako currently has active product distribution operations in Germany and is fully licensed in the United Kingdom.
For more information about Agra Ventures, please visit www.agraventures.com and its profile page on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Nick Kuzyk, Investor Relations
E: ir@agraventures.com
T: (800) 783-6056
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 Agra Ventures 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.
SOURCE: Agra Ventures Ltd.
FAQ
What changes were made to Agra Ventures' board on July 12, 2022?
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