Vancouver BC / NEWSWIRE / July 22, 2019 /CNW/ - Agrios Global Holdings Ltd. (CSE: AGRO) (OTCQB: AGGHF) (FSE: ØSA - WKN-A2N62K) ("Agrios" or the "Company") is pleased to provide an update on the progress of its subsidiary Agrios Asia (“Agrios Asia” or the “Subsidiary”).
Following the recent receipt of a hemp cultivation permit, Agrios Asia hired a project director based in Kunming, Yunnan Province, China to oversee the cultivation operations and hemp stalk pre-process build out. The subsidiary has begun cultivation of industrial hemp at the Yunnan Han Ma Biological Industrial Hemp Cultivation Base. Agrios Asia expects its first harvest in October 2019.
Stephanie Wong, Managing Director of Agrios Asia explained, “The aim of establishing the hemp stalk pre-processing plant is to provide consistent quality raw materials to produce our research products such as hemp straw and biodegradable single use dining ware. We are still waiting for advice from the research institutes on the exact requirement of the raw materials to determine the treatment process and corresponding equipment required.”
Kunming University of Science and Technology (“KMUST”) has completed the first stage of hemp straw research, involving the extraction techniques to prepare hemp pulp, and filed a Chinese patent for a “short-process for the extraction of hemp fibers”. The second stage of research is underway and focuses on the preparation of pulp with the optimal mix of hemp core fiber and hemp hurds fiber. Preliminary results are promising with a gross pulp yield approaching 50%.
Once hemp pulp can be manufactured into hemp paper, the next stage will be the development of the manufacturing process to make environmentally friendly, biodegradable hemp straws from the hemp paper and then expanding the product scope to other dining ware such as cups, plates and bowls.
About Agrios Global Holdings Ltd.
Agrios Global Holdings is a data analytics driven agriculture technology and services company advancing the latest innovations in indoor growing science. The Company owns, leases and manages properties and equipment for eco-sustainable agronomy and provides advisory services to support all aspects of aeroponic cultivation in the cannabis sector. Agrios is actively pursuing new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions. Based in Vancouver, BC. Agrios is managed by a highly accomplished team of experienced industry and capital markets experts who are committed to the growth of the company.
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This news release was prepared by management of Agrios, which takes full responsibility for its contents. The Canadian Securities Exchange ("CSE") has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Agrios' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to corporate strategy and Agrios’ ability to execute such strategy, future developments regarding Agrios’ expansion into various markets including numerous states within the United States of America, and into Asia, expected costs of hemp fiber, intended development and sales of hemp products, market demand for hemp products, and the business and operations of Agrios as it relates to the Yunnan Province.
Although Agrios has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Agrios disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Agrios does not assume any liability for disclosure relating to any other company mentioned herein.