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Alliance One International Indirect Subsidiary FIGR Cannabis Continues Production Expansion


Alliance One International Indirect Subsidiary FIGR Cannabis Continues Production Expansion

PR Newswire

MORRISVILLE, N.C., Aug. 9, 2018 /PRNewswire/ -- Alliance One International, Inc. (NYSE:AOI) today announced that its indirect subsidiary, FIGR Cannabis Inc., has taken a significant step forward in its expansion plans as Goldleaf Pharm Inc., a subsidiary of FIGR Cannabis, completed the purchase of a 20-acre property adjacent to the Goldleaf facility in Simcoe, Ontario, Canada.

"Goldleaf Pharm is advancing through focused expansion in order to meet the needs of Canadians as we prepare for the legalization of recreational cannabis in Canada," said Larry Huszczo, co-founder of Goldleaf Pharm Inc. "The additional 20-acres of land will give us more production space with the ability to grow our current footprint to more than 700,000 square feet."

"FIGR continues to innovate by focusing on brand and product development," said Volker Lauterbach, president of FIGR Cannabis. "Closing this deal moves us toward our overall strategy and investment goal of reaching one million square feet of production space for our Ontario and Prince Edward Island locations. The Goldleaf Pharm expansion will add well-located production space to support capacity and product development."

Goldleaf Pharm Inc. is a late-stage applicant under Health Canada's Access to Cannabis for Medical Purposes Regulations for required licensing to produce and sell medicinal cannabis in Ontario.

About Alliance One International, Inc.

Alliance One International (NYSE:AOI) is an agricultural company that delivers value-added products and services to businesses and customers, and is a trusted provider of responsibly sourced, independently verified, sustainable and traceable products and ingredients.

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SOURCE Alliance One International, Inc.

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