Agrios Global Holdings Ltd. Announces Missouri Subsidiary Executes License Application Agreements
VANCOUVER, April 9, 2019 /CNW/ - Agrios Global Holdings Ltd. (CSE: AGRO) (OTCQB: AGGHF) (FSE: ØSA - WKN-A2N62K) ("Agrios" or the "Company") is pleased to announce that Agrios Business Solutions, LLC, ("ABS"), a wholly owned subsidiary of the Company has executed its first two agreements with two separate applicants to provide license application related consulting services. Under the terms of the agreements, ABS will aid its clients in drafting and applying for single dispensary licenses under the laws of the State of Missouri.
The Medical Marijuana and Veteran Healthcare Service Initiative was approved in the state of Missouri on November 6, 2018, effectively legalizing marijuana use for medical purposes under state law and creating regulations and licensing procedures for medical marijuana and medical marijuana facilities (dispensary, cultivation, testing and marijuana-infused product manufacturing facilities) as well as licensing fees for such facilities.
Agrios Global Holdings' Director, Larry Ellison, is a member of the Missouri Cannabis Trade Association and serves on the Executive Board as well as the Business and Legislative Affairs Committees. He is a long-time advocate of the recent changes to the Missouri marijuana legislation, and familiar with the regulatory distinctions in the state. Larry commented,
As a newly minted medical marijuana state, Missouri is a fresh field of opportunity in a highly lucrative and competitive industry that is bound to alter the state's business landscape. ABS was established when the Company identified the prospect of advising new entrepreneurs who would be making license applications in all aspects of the industry. Additionally, Agrios has an opportunity to participate in the development of the Missouri marijuana business sector while it is in its infancy.
Medical marijuana, by its nature, is more regulated than recreational marijuana for growers, processors, distributors and patients. All licenses for (i) medical marijuana cultivation, (ii) manufacturing and testing facilities, (iii) dispensaries, and (iv) transportation providers must be held by entities that are majority owned by Missouri citizens. Because of the significant cost associated with setting up cultivation facilities, dispensary licenses will be the most highly sought after and competitive out of the types of licenses.
Every state with either medical or recreational marijuana laws regulates cannabis differently. In Missouri, as in most states, every cannabis plant will have to be controlled, a system known as a seed-to-sale tracking program. Due to Missouri's medical status, growers have more incentive to focus on cultivating with less synthetics and growing pesticide-free, natural, sustainable and ultimately healthier products. Consistency in crop quality is exceptionally important in product grown for medical purposes to follow dosing standards as in other pharmaceutical medications.
At this level of regulation, growers will need expert advice on not only the best methods for growing marijuana but also for such things as what kinds of nutrients to use and how far apart the plants should be spaced. They will also require advice on how to select the proper real estate, whom to hire for security services to protect the crop, and how many cameras they are required to install to monitor operations. Agrios can also offer our license application clients who obtain licenses further advisory and consulting services in areas such as dispensary operations, agriculture technology and agronomy services for improving crop yields and quality.
Agrios Global Holdings is a data analytics driven agriculture technology company advancing the latest innovations in indoor growing science. The Company owns, leases and manages properties and equipment for eco-sustainable agronomy and provides advisory services to support all aspects of aeroponic cultivation in the cannabis sector. Agrios is actively pursuing new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions. Based in Vancouver, BC. Agrios is managed by a highly accomplished team of experienced industry and capital markets experts who are committed to the growth of the company.
This news release was prepared by management of Agrios, which takes full responsibility for its contents. The Canadian Securities Exchange ("CSE") has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Agrios' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to corporate strategy and Agrios' ability to execute such strategy, future developments regarding Agrios' expansion into various markets including numerous states within the United States of America, and into Asia, expected costs of hemp fiber, intended development and sales of hemp products, market demand for hemp products, and the business and operations of Agrios as it relates to the Yunnan Province
Although Agrios has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Agrios disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Agrios does not assume any liability for disclosure relating to any other company mentioned herein.