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    AGRA   CA0085052086

AGRA VENTURES LTD.

(AGRA)
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Agra Ventures : Announces Change of Auditor

09/17/2021 | 09:00pm EDT

VANCOUVER, British Columbia, Sept. 17, 2021 (GLOBE NEWSWIRE) -- Agra Ventures Ltd. (“AGRA” or the “Company”) (CSE: AGRA) (Frankfurt: PU30.F) (OTCPK: AGFAD), a growth-oriented and diversified company focused on the international cannabis industry, announces that it has changed its auditor from Dale Matheson Carr-Hilton Labonte LLP (“Former Auditor”) to Baker Tilly LLP (“Successor Auditor”) effective September 17, 2021. In accordance with National Instrument 51-102, the Company has filed Notice of Change of Auditor, together with the required letters from the Former Auditor and the Successor Auditor in respect of this change under its profile on SEDAR at www.sedar.com.

Separately, on September 2, 2021, the Company was served with a Petition in the British Columbia Supreme Court seeking an order granting the Petitioner leave of the Court to commence a Civil Claim (the “Claim”) in the name and on behalf of the Company against certain proposed Defendants. The Company takes the allegations contained within the Claim seriously and has engaged legal counsel to investigate the alleged matters and to respond to the proposed Petition.

ABOUT AGRA VENTURES

Agra Ventures Ltd. (“AGRA” or “the Company”) 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’s 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 https://agraventures.com/ and its profile page on SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Nick Kuzyk, Investor Relations
E: ir@agraventures.com
T: (800) 783-6056

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

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.


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Source: Agra Ventures Ltd.

2021 GlobeNewswire, Inc., source Press Releases

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Financials
Sales 2020 1,49 M 1,20 M 1,20 M
Net income 2020 -103 M -83,0 M -83,0 M
Net Debt 2020 33,7 M 27,2 M 27,2 M
P/E ratio 2020 -0,35x
Yield 2020 -
Capitalization 13,0 M 10,5 M 10,5 M
EV / Sales 2019 31 463x
EV / Sales 2020 50,4x
Nbr of Employees -
Free-Float 99,7%
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Managers and Directors
Elise Coppens Chief Executive Officer & Director
Fiona Fitzmaurice Chief Financial Officer
Jerry Habuda Independent Director
Joseph Perino Independent Director
J. Brian O'Neill Independent Director
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