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Canadian cannabis company AgraFlora Organics International Inc. (CSE: AGRA) (OTC:AGFAF) said Friday its subsidiary Sustainable Growth Strategic Capital Corp. has completed its first full run of full-spectrum CBD crude oil and CBD distillate.
SGSC, a cannabis company based in Greater Toronto, is focused on the market for CBD oil, CBD distillate and CBD isolate via collaborations with other companies.
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It has previously cooperated with the Canadian company Micro C45 Inc., which SGSC said further enabled it to partner with other Canadian companies and to develop formulations and completed products with CBD oil, CBD distillate and CBD isolate.
SGSC’s first batch of CBD Isolate is projected to be ready during the second quarter.
The company should use around 225,000 kilograms of Canadian hemp from Micro C45, producing up to 10,000 kilograms of CBD isolate, or around 12,500 kilograms of distillate, depending on the market demands, according to AgraFlora.
“After seeking approval for many formulations, LPs have struggled to identify reliable and consistent sources of CBD derivatives to meet their formulation and manufacturing requirements for those edible, oil, topical, tincture and beverage products,” Brandon Boddy, AgraFlora executive chairman and CEO, said in a statement.
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AgraFlora's strategy with SGSC is to meet that demand with high quality CBD inputs processed from Canadian hemp utilizing relationships in the Canadian hemp and CBD space.
"This model allows us and our partner to focus on sourcing the highest quality hemp and to pursue strong relationships with down-stream buyers," Boddy said.
AgraFlora shares were down 0.99% at less than 4 cents per share at the time of publication Friday.
Related Links:
AgraFlora Obtains Health Canada License For CBD Business
AgraFlora Organics Reports Farmako GmbH Obtains Drug License In UK
Photo courtesy of AgraFlora.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.