World News: 08:05 GMT Thursday 5th September 2019. [AgraFlora Organics International Inc. via Globe Newswire via SPi World News]
VANCOUVER, British Columbia, Sept. 05, 2019 (GLOBE NEWSWIRE) — (“” or the “”) (), a growth oriented and diversified international cannabis company, is pleased to provide the following operational updates and sales guidance pertaining to the Company’s 50 per-cent owned Joint-Venture (the “JV”), Eurasia Infused Cosmetics Inc. (“Eurasia Infused”):
Eurasia Infused, by way of a commercial concession with CBD Group controls a distribution agreement signed with YuShop for CBD and hemp-derived beauty and wellness products for the territories of People’s Republic of China and the Hong Kong special administrative region. This distribution agreement extends to AgraFlora’s robust portfolio of CBD-infused and/or hemp-oil-derived CPG personal care products.
Brandon Boddy, Chief Executive Officer and Chairman of AgraFlora stated: “We are very optimistic for a full-scale Asian commercialization campaign of Eurasia Infused’s comprehensive CBD product suite. Further reinforced by YuShop’s expeditious listing of our three-flagship cosmetic SKUs on their cross-border lifestyle and e-commerce platform, forthcoming phases of commercialization will include the launch of our premium product suite in hundreds of high traffic locations spanning China’s metropolitan city centres.
“Internal forecasts indicate we expect to reach over 1.5 million targeted consumers per month by end of Q2 2020, with realized revenues projected to increase accordingly. Our premium CBD and Canadian organic hemp-oil derived CPGs fills an underserved product category in China and Hong Kong today and we feel that it will function as a benchmark for CBD infused CPG formulations.”
Eurasia Infused is positioned to capitalize on current and future market trends in the rapidly expanding global cannabinoid-infused CPG space. Existing turnkey cultivation/manufacturing capabilities further bolster the JV’s ability to swiftly expand the breadth of its current product line to more than 40 SKUs. Eurasia Infused is finalizing the development phase of a suite of innovative SKUs, specifically tailored of the Asia Pacific theatre, including:
James Foster, Chief Executive Officer of CBD Group Asia, commented: “We are delighted to move our business case forward to generating revenue so quickly having agreed terms on our Eurasia JV with AgraFlora. Asian customers have responded extremely well to the prospect of purchasing AgraFlora ‘Whole Hemp Health’ brand and as a result we have moved forward with our distribution plans through a successful listing with YuShop Global.
“Furthermore, we have initiated discussions with further parties working within CBD Asia Group’s existing sales network. These include three more large distribution companies based in PR China to further expand sales reach after this initial launch. Prospects for the JV look extremely strong as the market for CBD in Asia rapidly accelerates to hyper growth and we are fortunate through our JV with AgraFlora to be tactically well positioned within this margin rich marketplace.”
AgraFlora Organics International Inc. is a growth oriented and diversified company focused on the international cannabis industry. It owns an indoor cultivation operation in London, ON and is a joint venture partner in Propagation Service Canada and its large-scale 2,200,000 sq. ft. greenhouse complex in Delta, BC. The Company has a successful record of creating shareholder value and is actively pursuing other opportunities within the cannabis industry. For more information please visit: .
ON BEHALF OF THE BOARD OF DIRECTORS
Brandon Boddy Chairman & CEOT: (604) 398-3147
More news and information about AgraFlora Organics International Inc.
Globe Newswire: 08:05 GMT Thursday 5th September 2019
Published: 2019-09-05T08:05:00.
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