Agra Ventures Grants Restricted Share Units

Rhea-AI Summary

Agra Ventures Ltd. (CSE: AGRA; OTC: AGFAF) announced the granting of 8,885,187 restricted share units (RSUs) to directors, officers, and a consultant. This move is aligned with the approved RSU Plan and adheres to Canadian Securities Exchange policies. Agra Ventures is focused on the international cannabis market, emphasizing cannabis cultivation and distribution. Their primary asset is the Boundary Bay Cannabis greenhouse in Canada, with additional operations through Farmako GmbH in Europe, particularly Germany and the UK.

Positive

• Grant of 8,885,187 RSUs aligns with shareholder-approved RSU Plan.
• Agra Ventures is actively growing in the cannabis industry with strategic assets.

Negative

• None.

VANCOUVER, British Columbia, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Agra Ventures Ltd. (“AGRA” or the “Company”) (CSE: AGRA) (OTC: AGFAF), a growth-oriented and diversified company focused on the international cannabis industry, announces that it has granted 8,885,187 restricted share units (the "RSUs") to certain directors, officers, and a consultant of the Company.

The RSUs are granted pursuant to the terms of the RSU Plan approved by the shareholders of the Company and are subject to the policies of the Canadian Securities Exchange.

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, Interim CEO
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.

FAQ

What is the significance of the RSUs granted by Agra Ventures Ltd. on October 7, 2022?

The granting of 8,885,187 RSUs to directors and officers is significant as it aligns with the shareholder-approved RSU Plan, indicating a commitment to equity compensation.

How does Agra Ventures Ltd. position itself in the cannabis industry?

Agra Ventures is focused on the international cannabis market, specializing in the cultivation and marketing of high-quality cannabis and has significant assets like Boundary Bay Cannabis in Canada.

What are Agra Ventures Ltd.'s key international operations?

Agra Ventures operates internationally through its subsidiary Farmako GmbH, targeting the European medical cannabis market, with active distribution in Germany and licensing in the UK.

What were the terms under which Agra Ventures Ltd. granted RSUs?

The RSUs were granted in accordance with the terms of the RSU Plan approved by shareholders, subject to Canadian Securities Exchange regulations.