Former CFO Amicably Departing the Company to Facilitate the Transition
Vancouver, British Columbia / May 5, 2021 (Globe Newswire) – AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that Fiona Fitzmaurice has been appointed as AgraFlora’s new Chief Financial Officer (“CFO”) effective May 1, 2021, subject to the final acceptance of the Canadian Securities Exchange (the “CSE”). Ms. Fitzmaurice is a Chartered Professional Accountant with over 14 years of experience in accounting and financial control, serving both private companies and public issuers throughout her career. AgraFlora’s former CFO, Peter Nguyen, has amicably agreed to depart the Company in order to facilitate Ms. Fitzmaurice’s transition as the new steward of AgraFlora’s finances.
“On behalf of the Board of Directors, I am pleased to welcome Fiona to AgraFlora’s management team as we continue to evolve the Company’s streamlined corporate strategy and execute on our near-term goal of generating revenues from our core assets,” said Elise Coppens, CEO of AgraFlora. “I would like to thank Peter for his contributions to the Company and his assistance with respect to my own onboarding process, and I appreciate his professionalism during this time of transition,” added Ms. Coppens.
Ms. Fitzmaurice has previously been appointed as CFO of companies that include but are not limited to MacDonald Mines Exploration Ltd., Pasofino Gold and Mojave Jane Brands. Accordingly, Fiona has extensive experience with corporate audits, prospectus filings, private placements, financings and corporate acquisitions. As the foundation of her knowledge base, Ms. Fitzmaurice holds a bachelors’ degree in accounting and finance from Athlone Institute of Technology in Athlone, Ireland.
About AgraFlora Organics International Inc.
AgraFlora Organics International Inc. is a leading cannabis company building shareholder value through the development of revenue generating operating assets in the global cannabis industry. AgraFlora is focused primarily on the Canadian cannabis industry – the world’s most advanced and regulated legal cannabis market. Its flagship Canadian asset is Propagation Services Canada, a large-scale commercial greenhouse in Delta, BC focused on reshaping the Canadian flower market with high-potency, low-cost cannabis. In addition, AgraFlora’s wholly-owned subsidiary, Farmako GmbH, is focused on becoming Europe’s leading distributor of medical cannabis. Farmako currently has active distribution operations in Germany and expects to commence active operations in the United Kingdom in 2021. For more information about AgraFlora, please visit agraflora.ca and its profile page on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Nick Kuzyk, Investor Relations
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Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for AgraFlora Organics described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.