AgraFlora Organics International Inc. (CSE:AGRA) (OTC: AGFAF) announced that its subsidiary, Sustainable Growth Strategic Capital Corp., will start extraction operations at its licensed facility.
The move comes as the Toronto-based company received approval from Health Canada, the federal department that oversees the country’s health policies.
Sustainable Growth Strategic Capital is a cannabis company in the Greater Toronto Area with medical sales and standard cultivation licenses. It has been collaborating with farmers to improve the efficiency of CBD extraction processes.
This March, SGSC has initiated a trail extraction of hemp-biomass that relies on third-party extraction services, and will be distributed as a mix of CBD crude oil, CBD isolate, and CBD distillate, the company said.
On the positive results from the trial, SGSC plans to initiate another production cycle of up to 1,300 kg of premium hemp biomass with 8% and higher CBD concentrations.
AgraFlora’s shares jumped 57% trading at 5 cents per share on Friday morning.
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Photo courtesy of AgraFlora.
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