CAN (BC): AgraFlora sells 8,800 sq. ft. indoor cultivation facility for approximately $1M

AgraFlora Organics International has signed the definitive agreement to sell its wholly-owned subsidiary, AAA Heidelberg for approximately $1 million. AAA operates an 8,800 square foot indoor growing facility in London, Ontario. The closing of the Transaction is subject to customary approvals and is expected to occur in the second quarter of 2021.

“With the positive developments being experienced in Delta, BC at our Propagation Services Canada facility, the AAA Heidelberg subsidiary was deemed to be non-core to the Company. Further, streamlining AgraFlora’s strategy, focusing on our core assets and benefiting from the cash proceeds of this Transaction are all high priorities for us at this transformative time,” said Elise Coppens, Chief Executive Officer and Director of AgraFlora. “On behalf of the Board of Directors, I would like to thank the purchaser for their professionalism and expediency during the course of this Transaction,” added Ms. Coppens.