AgraFlora Organics International Inc.
Gateway’s brick-and-mortar locations are located in high-traffic urban centres, including key train stations, office towers, shopping malls, hospitals, casinos, and lottery kiosks. It has now awarded AgraFlora approved supplier status after previously putting in an initial purchase order to supply a suite of hemp-derived consumer packaged goods.
AgraFlora products will now go on sale imminently at newsstands across the country.
“Gateway is an ideal partner throughout our pursuit to achieve significant shelf space, due to their broad target audience, notable brand recognition, and diverse brick and mortar footprint,” said Brandon Boddy, chairman and chief executive at AgraFlora.
There is also talk of Gateway and AgraFlora collaborating to produce a portfolio of CBD-infused products within eligible jurisdictions.
AgraFlora has a greenhouse in Delta, British Columbia, which should be operational by 2020. It will eventually have the capacity have the capacity to produce 250,000 kg of cannabis per year, which would make AgraFlora one of largest producers in Canada, but it has a market cap of just $208.5 million.
AGRA began the year at $0.28 and it reached $0.79 by March, but it has since decreased significantly and it opened at $0.24 today. Management has consistently argued that it is undervalued given its potential, but the market has not really reacted to those claims.
It has just spent a further $3 million on upgrades at the facility and confirmed that capacity will reach 250,000 kg next year. It said that will leave it behind only Aurora, Canopy, and Aphria, and ahead of Tilray as the fourth largest producer in Canada.
Earlier this month, AgraFlora shed some light on a number of high-CBD lines it is producing at a campus in Kent County, New Brunswick, and its Winnipeg Edibles Facility ahead of edibles and other concentrates being legalized this month.
The Winnipeg facility is producing gummies, baked goods, flavoured tinctures, cannabis-infused honey, and maple syrup, vegetable puree-based snacks and even CBD-infused pet products.
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