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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) 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.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced the results of its Annual General & Special Meeting held on June 27, 2022, where 947,584 shares (3.81% of outstanding shares) were voted. Shareholders approved all business items, including setting the number of directors to four, electing Elise Coppens, Brian O’Neill, Fiona Fitzmaurice, and Anthony Carnevale, and appointing Baker Tilly LLP as auditor. The meeting also saw the re-approval of the stock option and restricted share unit plans, with significant approval percentages for each resolution.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announces the appointment of David Grand as the new CEO effective July 1, 2022. Grand, with over 30 years of experience, previously led Muskoka Grown Limited and held significant roles in various companies. Outgoing CEO Elise Coppens will stay on the Board of Directors to assist in the transition. This management change aligns with Agra's strategic goals in the competitive cannabis industry, focusing on cultivation and distribution of high-quality cannabis products globally.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced the issuance of 54,636 common shares at a deemed price of $0.52 per share to cover quarterly interest on a loan taken in December 2020. The shares will be held for a minimum of four months and one day. Agra Ventures is focused on the global cannabis market, with its primary asset being Boundary Bay Cannabis in Canada and a subsidiary, Farmako GmbH, distributing medical cannabis in Europe.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) welcomes Health Canada's regulatory changes aimed at streamlining the cannabis licensing process, effective April 19, 2022. This new policy allows cannabis processors like AGRA to sell dried and fresh cannabis products without needing an amendment. Moreover, existing licenses will be reissued with updated conditions within 90 days. The company also announced an extension of its 10.00% Senior Unsecured Convertible Debentures maturity date to March 12, 2023, with amended conversion pricing. These developments are set to enhance AGRA's operational flexibility and market access.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced an agreement to extend the maturity date of its 10.00% Senior Unsecured Convertible Debentures by twelve months to March 12, 2023. The company satisfied accrued interest of $2,100,000 from January 1, 2021, to December 31, 2021, through the issuance of 1,200,000 common shares to Debenture holders. Agra focuses on the international cannabis industry, with operations including cultivation in Canada and distribution in Germany and the UK through its subsidiary, Farmako GmbH.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced its Board of Directors approved the issuance of 26,698 common shares at approximately $1.04 per share. This issuance will be made as payment for a portion of the quarterly interest due on a loan taken in December 2020. All shares will be subject to a minimum hold period of four months and one day from the issuance date. Agra Ventures focuses on the international cannabis industry, with a primary asset being Boundary Bay Cannabis in Canada and a subsidiary, Farmako GmbH, operating in Europe.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced its support for Germany's upcoming legalization of recreational cannabis, a priority for the new government. The company’s subsidiary, Farmako GmbH, is positioned to benefit by expanding its product offerings. The legalization could generate €5 billion in annual tax revenue and create approximately 27,000 jobs. The release also details a settlement agreement involving the issuance of 552,609 shares at $0.4524 to resolve legal claims against its subsidiary, Sanna Health Corp.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced over $318,000 in revenue and another $173,000 in signed contracts from dried cannabis sales from December 2021 to February 2022, totaling over 175 kilograms sold at an average price exceeding $2.75 per gram. Additionally, AGRA entered a share purchase agreement to acquire up to 34% of Twenty One Investment Holdings, Inc., a U.S. cannabis retail technology venture, with an initial closing completed on February 8, 2022. AGRA currently holds 15.38% and plans further investments to increase its stake significantly.
Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) announced the issuance of 8,744 common shares at $0.84 each as payment for interest on a loan from December 2020. These shares are subject to a four-month hold period. Agra Ventures is focused on the international cannabis market, with significant assets in Canada, including the Boundary Bay Cannabis facility. The company also operates in Europe through its subsidiary, Farmako GmbH, which is expanding its medical cannabis distribution in Germany and is licensed in the UK.
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