Digicann Ventures Divests of AgraFlora Europe GmbH
VANCOUVER, British Columbia, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Digicann Ventures Ltd. (“Digicann” or the “Company”) (CSE: DCNN) (OTCPK: AGFAD), a company focused on the cannabis industry, announces that it recently signed and closed the sale of the shares of AgraFlora Europe GmbH (the “AgraFlora Europe”) to an arm’s length third party for gross cash proceeds of €500,000 (the “Transaction”).
- VANCOUVER, British Columbia, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Digicann Ventures Ltd. (“Digicann” or the “Company”) (CSE: DCNN) (OTCPK: AGFAD), a company focused on the cannabis industry, announces that it recently signed and closed the sale of the shares of AgraFlora Europe GmbH (the “AgraFlora Europe”) to an arm’s length third party for gross cash proceeds of €500,000 (the “Transaction”).
- AgraFlora Europe was set up to be a commercial platform for the import, storage and wholesale distribution of cannabis products and ancillary products for medicinal purposes.
- Digicann was the sole shareholder of AgraFlora Europe, a German limited liability company that held:
100% of the shares in Farmako GmbH, a company having its registered office located in Frankfurt, Germany ("Farmako");
100% of the shares in Farmako Genetics GmbH, a company having its registered office located in Frankfurt, Germany; and
100% of the shares in The Good Company Luxembourg SARL, a company having its registered office located in Luxembourg. - The Managing Directors of the applicable companies within the AgraFlora Europe group of companies have been updated by the commercial register in Germany.