VANCOUVER, British Columbia, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Agra Ventures Ltd. ("AGRA" or the "Company") (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF), a growth-oriented and diversified company focused on the international cannabis industry, announces that pursuant to a director's resolution AGRA will be consolidating all of its issued and outstanding share capital on the basis of one (1) post-consolidation share for each one hundred and fifty (150) pre-consolidation common shares of the Company (the "Consolidation"). No fractional shares will be issued by AGRA under the Consolidation and any fraction will be rounded to the nearest whole number.
As a result, the outstanding common shares of the Company will be reduced to approximately 12,986,374. The exercise or conversion price and the number of common shares issuable under any of AGRA's outstanding convertible securities will be proportionately adjusted upon consolidation. In connection with the Consolidation, the name of the Company will not change and its trading symbol will remain as "AGRA". The Company's common shares are expected to begin trading on a consolidated basis and with a new CUSIP number of 008505208 and a new ISIN number of CA0085052086 on or about August 27, 2021.
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 expects to commence active operations in the United Kingdom in 2021.
For more information about Agra Ventures, please visit agraventures.com and its profile page on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Nick Kuzyk, Investor Relations E: ir@agraventures.com
T: (800) 783-6056
For French inquiries:
Maricom Inc. Remy Scalabrini E: rs@maricom.ca
T: (888) 585-MARI
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.
