VANCOUVER, British Columbia, Oct. 14, 2021 (GLOBE NEWSWIRE) — Agra Ventures Ltd. (“AGRA” or the “Company”) (CSE: AGRA) (Frankfurt: PU30) (OTCPK: AGFAF), a growth-oriented and diversified company focused on the international cannabis industry, is pleased to announce that its wholly owned subsidiary, Farmako GmbH (“Farmako”), has expanded its portfolio of cannabis identity testing kits to now offer a model (the “New Testkit”) that tests for both tetrahydrocannabinol (“THC”) and cannabidiol (“CBD”). The New Testkit is validated for a broad range of cannabis products, which differentiates it from other available tests, and facilitates the identity testing of different types of cannabis medicines and active pharmaceutical ingredients. It is also cheaper than obtaining test results via thin layer chromatography.
Pharmacies in Germany can now order the New Testkit from Farmako. Each unit combines the testing of both THC and CBD and contains all required material for testing the identity of cannabis in compliance with German pharmacy regulations. While waiting for the result of the THC test, which works with a test strip and a ready-to-use test solution, the CBD test can be conducted via a color test in a second ready-to-use test solution. This sequence saves pharmacists valuable time and each New Testkit also contains a test protocol that can be used by pharmacists for documentation purposes.
The specificity of the New Testkit has been validated by an independent laboratory for THC-dominant, CBD-dominant, THC/CBD balanced flowers, different cannabis extracts, Dronabinol and CBD isolate. This validation process makes Farmako’s New Testkit the broadest applicable testkit in the German market. The New Testkit is a complement to Farmako’s proprietary THC Testkit, which has been available in the market since December of 2020. Additionally, Farmako is launching a CBD-only testkit to complete the portfolio.
“We are proud to launch the New Testkits and are very happy with the early positive feedback from the market. Our biggest goal is to reduce hurdles for cannabis patients, manufacturers, medical and pharmaceutical staff. In order advance cannabis therapy, it is so important to make the work of doctors and pharmacists easier. Therefore, the possibility of conducting identity testing via validated quick-tests is a very important step in making cannabinoid therapy less complicated. We are proud to be one of the driving forces in this movement,” said Katrin Eckmans, Managing Director of Farmako.
“The innovation demonstrated by Katrin and her team at Farmako through the creation and launch of the New Testkits is a great achievement. I am pleased with Farmako’s maturation as a subsidiary of Agra Ventures and applaud the efforts of its staff to add value to the overall organization,” said Elise Coppens, Chief Executive Officer and Director of Agra Ventures. “The strategic evolution of Agra Ventures continues to be positive, based on the progress being made in Germany and the growth occurring at Boundary Bay Cannabis in British Columbia. I look forward to more progress being made and new milestones being achieved in the near future,” added Ms. Coppens.
About Farmako
Farmako GmbH is a GDP certified pharmaceutical wholesaler, focusing on medical cannabis and aiming at facilitating access to reliable cannabinoid therapy to patients with a high burden of suffering as well as providing efficient support to healthcare professionals: via fair prices, reliable product quality and ability to supply as well as efficient service. It already distributes medical cannabis to pharmacies in Germany since March 2019 and is fully licensed in the UK to start distribution operations there in 2021. Farmako is a wholly owned subsidiary of Agra Ventures Ltd. For more information please visit: https://www.farmako-global.com/.
About Agra Ventures Ltd.
Agra Ventures is a growth-oriented and diversified company focused on the international cannabis industry. The company is dedicated to the cultivation, distribution and marketing of high-quality cannabis and cannabis-infused products worldwide. Agra Ventures’ primary asset in Canada is Boundary Bay Cannabis located in Delta, BC, which is one of the largest cannabis greenhouse facilities focused on the cost-optimized cultivation of high-potency cannabis. Abroad, the company’s wholly-owned subsidiary, Farmako GmbH, is focused on becoming Europe’s leading distributor of medical cannabis. Farmako currently has active product distribution operations in Germany and expects to commence active operations in the United Kingdom in 2021.
For more information about Agra Ventures, please visit agraventures.com and its profile page on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Nick Kuzyk, Investor Relations: ir@agraventures.com
T: (800) 783-6056
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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 Agra Ventures 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.
