DIGICANN VENTURES INC - AGFAF STOCK NEWS

Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) has signed a six-month Cannabis Purchase Agreement through its subsidiary, Boundary Bay Cannabis, ensuring a monthly supply of cannabis to a third-party purchaser. This deal marks the company's first formalized wholesale cannabis sales and aims to establish a consistent revenue stream. The contract includes a renewal option and requires an average commission of 4.9% to a broker. CEO Elise Coppens emphasized the significance of this agreement for future revenue generation and expressed gratitude to employees and shareholders for their support.

Agra Ventures has announced the appointment of Fiona Fitzmaurice to its board of directors, effective October 22, 2021. Fitzmaurice is a Chartered Professional Accountant with over 14 years of experience in accounting and financial control, currently serving as the CFO of Agra since May 2021. She has held CFO roles in various companies, enhancing her expertise in corporate audits, finance, and acquisitions. Agra Ventures is focused on the international cannabis industry, with significant operations in Canada and Europe, particularly with its subsidiary Farmako GmbH.

Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) has announced the launch of its new cannabis identity testing kit, introduced by its subsidiary Farmako GmbH. This innovative kit tests both THC and CBD levels in various cannabis products, simplifying the testing process for pharmacies in Germany. The kit is validated for multiple cannabis types, making it the most comprehensive in the German market. Additionally, a CBD-only testkit will soon be available, enhancing Farmako's testing portfolio and supporting effective cannabinoid therapy.

Agra Ventures Ltd. (AGFAF) has announced a change of auditor from Dale Matheson Carr-Hilton Labonte LLP to Baker Tilly LLP, effective September 17, 2021. This change complies with National Instrument 51-102 and the Company has filed a Notice of Change of Auditor with SEDAR. Separately, on September 2, 2021, Agra Ventures was served a Petition in the British Columbia Supreme Court, which seeks to commence a Civil Claim against certain defendants. The Company is taking the allegations seriously and has hired legal counsel to investigate the matter.

Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) has achieved the first milestone in its earn-out agreement with Organigram Holdings, satisfying the requirement of delivering EIC-manufactured products to the Alberta market. This milestone triggers the release of $3.5 million in common shares, with AGRA entitled to approximately $1.5 million worth, expected within 30 days. Additionally, AGRA is eligible for further payments totaling $9.5 million upon meeting future revenue and earnings targets by December 31, 2022. The company aims for growth through its cannabis ventures in Canada and Europe.

Agra Ventures Ltd. (CSE: AGRA, OTC: AGFAF) recently announced successful test results from its cannabis crop at the Delta greenhouse complex. The results indicated suitable THC, CBD, and moisture levels in the samples, particularly the Mimosa strain with 21.17% THC. The company is negotiating the sale of these strains for either dried bulk flower or extracts. Additionally, AGRA has engaged Michael Chyczij as its Master Growing Consultant to develop Boundary Bay Cannabis products. AGRA aims to become a key player in the international cannabis industry, with ongoing efforts to expand distribution in Europe.

AgraFlora Organics International has appointed Fiona Fitzmaurice as the new Chief Financial Officer, effective May 1, 2021, following the amicable departure of former CFO Peter Nguyen. Fitzmaurice, a Chartered Professional Accountant with over 14 years of experience, has been involved with multiple companies in various financial roles. The company aims to enhance its corporate strategy and revenue generation from its core assets. This transition is expected to strengthen financial oversight as AgraFlora continues to focus on the Canadian cannabis market and expand into Europe.

AgraFlora Organics International Inc. announced that its wholly-owned subsidiary, Farmako GmbH, will supply STADAPHARM with proprietary THC Testkits, developed in-house. These kits enable pharmacists to quickly identify medical cannabis products. STADAPHARM plans to enter the medical cannabis market in Q2 2021, launching THC-containing products alongside the Testkits. The rapid testing method improves efficiency compared to traditional methods. Farmako aims to facilitate access to cannabinoid therapy while enhancing its product portfolio with high-THC extracts.

AgraFlora Organics International Inc. has announced the completion of an agreement to sell its 43% stake in The Edibles & Infusions Corporation to Organigram Holdings Inc. for $22 million in shares, with potential additional earnings of up to $13 million based on future performance milestones. This strategic move positions AgraFlora to leverage its share of up to $35 million for exploring new opportunities, especially in the U.S. cannabis market. The transaction has been approved by the Board of Directors and includes specific revenue and EBITDA goals linked to the additional compensation.