Welcome to our dedicated page for DIGICANN VENTURES news (Ticker: AGFAF), a resource for investors and traders seeking the latest updates and insights on DIGICANN VENTURES stock.
Digicann Ventures Inc. (CSE: DCNN) (OTCPK: AGFAF) is a dynamic company primarily engaged in the cannabis industry. Headquartered in Vancouver, British Columbia, Digicann Ventures focuses on exploring opportunities within and outside the cannabis sector. The company recently gained attention by selling its European platform, AgraFlora Europe GmbH, for €500,000. This strategic move allowed Digicann to streamline operations and focus on its core business areas.
AgraFlora Europe was established to handle the import, storage, and wholesale distribution of medicinal cannabis and related products. It held 100% shares in several subsidiaries, including Farmako GmbH and The Good Company Luxembourg SARL, which were involved in various aspects of the medicinal cannabis supply chain.
In a significant financial maneuver, Digicann has repurchased $14.2 million in convertible debentures, reducing its outstanding debts by over 93%. This transaction greatly enhances the company's financial health, positioning it for future growth and stability. Additionally, Digicann has issued restricted share units (RSUs) to its directors and officers, aligning their interests with shareholders and fostering a committed leadership team.
The company continues to push forward with its strategic goals, recently announcing an extension for the maturity date of its remaining $1 million in senior unsecured convertible debentures. This decision provides additional financial flexibility and supports ongoing operations.
For those interested in the latest updates and developments about Digicann Ventures Inc., please visit their official website or their SEDAR profile.
Management:
Chief Executive Officer: Nick Kuzyk
Email: ir@digicann.io
Phone: (800) 783-6056
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announces that its joint venture, Boundary Bay Cannabis, secured over 725,000 grams of cannabis purchase orders since August 31, 2022, totaling approximately $910,000. Despite this demand, the company faces challenges due to declining wholesale prices, rising labor and energy costs, and regulatory compliance expenses. These factors could hinder operations unless improvements in Health Canada's Cannabis Act occur.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced the issuance of 911,950 common shares to settle a portion of interest on a loan from December 2020. The shares will be issued at approximately $0.05 each and are subject to a hold period of four months and one day. Agra Ventures is focused on the international cannabis industry, with key operations in Canada and Europe, including a major cannabis greenhouse in Delta, BC, and distribution activities through its subsidiary Farmako GmbH in Germany and the UK.
Agra Ventures Ltd. (CSE: AGRA; OTC: AGFAF) provided an operational update highlighting its Delta operations and financial stability. They have received a significant overdue receivable, improving their cash position. The company’s joint venture, Boundary Bay Cannabis, is efficiently growing cannabis and expects a rolling harvest of new crops. AGRA also anticipates earning milestone payments from its divestiture of Edibles & Infusions Corp. Management remains optimistic about future corporate development opportunities to bolster growth.
On October 17, 2022, Agra Ventures Ltd. (AGFAF) announced its expectations for positive outcomes from Health Canada's review of the Cannabis Act, which commenced on September 22, 2022. The review aims to assess the impact of recreational cannabis legalization on health and regulatory frameworks. Key anticipated outcomes include significant reductions in excise taxes, updated labelling regulations, and enhanced sales opportunities for CBD products. A report must be tabled within 18 months, with AGRA expressing hope for changes that would improve the viability of the cannabis industry in Canada.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) welcomes President Biden's statement on cannabis reform, issued on October 6, 2022. This statement may lead to pardons for federal cannabis convictions and a review of cannabis classification in the US. Agra is optimistic that these changes could enhance the cannabis market in Canada as well. The statement could potentially allow foreign companies, including Agra, to sell products in the US and encourage Canadian banks to engage more with cannabis businesses.
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.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced positive developments regarding its subsidiary, Farmako GmbH, amid the anticipated legalization of recreational cannabis in Germany. A recent article highlights that Germany's government remains committed to legalization plans, despite opposition. This move could position Farmako to significantly expand its product offerings, including extracts and dried flower products, potentially making Germany's cannabis market larger than Canada's and Uruguay's combined. The management believes this will create substantial value for shareholders.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announces the resignation of CEO and Chairman David Grand, effective immediately, to focus on a new role with Boundary Bay Cannabis. Nick Kuzyk has been appointed as Interim CEO and Director, pending final acceptance from the Canadian Securities Exchange. Kuzyk brings over 20 years of industry experience, having served as Chief Strategy Officer at High Tide Inc. The Board expresses confidence in Kuzyk's ability to lead the company through upcoming challenges and opportunities in the international cannabis market.
Agra Ventures (AGFAF) announced the issuance of 240,420 common shares at approximately $0.12 each to cover part of the quarterly interest payment on a loan from December 2020. This issuance will be subject to a minimum hold period of four months and one day. Agra Ventures focuses on the international cannabis industry, with operations including Boundary Bay Cannabis in Canada and a subsidiary, Farmako GmbH, in Europe, which aims to distribute medical cannabis.
Agra Ventures Ltd. (CSE: AGRA; OTC: AGFAF) announced the immediate resignation of Brian O’Neill as Director. The company expressed gratitude for his service and wished him well in future endeavors. Agra Ventures is focused on the international cannabis industry, with significant operations in Canada and Europe. Its primary asset is Boundary Bay Cannabis, a large greenhouse facility in Delta, BC, and its subsidiary Farmako GmbH aims to be a leading distributor of medical cannabis in Europe, with operations in Germany and the UK.
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