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AgraFlora Organics International Inc. (CSE:AGRA)(OTC:AGFAF) reported Tuesday that its subsidiary, Potluck Potions and Edibles Inc. has obtained a research license from Health Canada under the Cannabis Regulations Act.
With the new license, the company is allowed to develop infused beverages and human sensory testing for taste, aroma, appearance, and texture at its Toronto-based GMP bottling facility.
Furthermore, the license enables AgraFlora to have and store dry cannabis, cannabis edibles, cannabis oils/concentrates on site at the facility.
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While waiting for the license, the company made several adaptions at the facility, such as the completion of cannabis research laboratory under its current GMP-certified grounds.
AgraFlora’s Toronto-based bottling facility has been manufacturing for dominant beverage brands, including Heineken, SABMiller, and The Coca-Cola Company (NYSE:KO). It holds five industry certifications: GMP, Canadian organic standards, Certified vegan, Fair trade certification, and Kosher facility status.
Additionally, the company announced raising its non-brokered private placement offering to 30,000 unsecured convertible debentures from 28,750, with an aggregate value of $30 million (previously $28.75 million). The debentures will mature in March 2021.
Agra Flora’s shares traded at 12 cents on Tuesday morning.
