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AgraFlora Organics Signs Complementary Cooperation Agreement, Defers CA$2 Million Payment

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AgraFlora Organics Signs Complementary Cooperation Agreement, Defers CA$2 Million Payment

AgraFlora Organics International Inc. (CSE: AGRA) (OTC: PUFXF), said Friday it has signed a complementary cooperation agreement to defer the payment for a CA$2-million ($1.5 million) purchase of dried cannabis flower, setting deferred payments to be repaid in equal amounts of CA$250,000 over a total of CA$8 million in expected cannabis flower purchases.

Upon the new cooperation agreement, an unnamed party to the original agreement has signed to a non-brokered private placement for total proceeds of CA$2 million, the company said. 

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Additionally, the company has issued 6.67 million transferable special warrants to a purchaser with a price of CA$0.30 per special warrant.

AgraFlora is a cannabis company with an international focus that runs an indoor cultivation operation in London.

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Posted-In: Cannabis News Offerings Contracts Markets

 

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