VANCOUVER, December 24th, 2020 - Segra International Corp, a cannabis agriculture technology company and a global leader in cannabis plant tissue culture, is pleased to announce the closing of $4.2MM CAD in equity financing over the course of 2020.
The company intends to use the proceeds of the financing to drive continued innovation in plant tissue culture for the cannabis industry and to continue aggressive expansion of its sales networks across Canada and around the globe.
"This additional investment is a testament to our recent successes in Segra's first year as a licensed operator generating revenue through our suite of products. With one of the largest libraries of cannabis cultivars in tissue culture in Canada, our customers look to us for access to clean, true-to-type, pathogen-resistant plantlets to mitigate the risks and challenges of large-scale cultivation, and to meet evolving consumer tastes. Segra has signed over 27 agreements with Canadian and international cannabis companies through 2020, all while continuing to innovate through our unparalleled research team. This newest round of investment will allow Segra to not only continue to grow as a company, but also to drive forward the future of how cannabis is cultivated." Jamie Blundell, Chief Executive Officer, Segra International.
Segra is an agriculture technology company offering plant tissue culture and DNA fingerprinting services to accelerate the advancement of the cannabis industry. The Company's proprietary technologies empower its clients to drive financial performance and mitigate risk, while exploring the next frontier of optimized cultivation practices for the rapidly evolving cannabis consumer. Segra has developed industrial-scale laboratories to produce disease-free, robust, and DNA-fingerprinted cannabis plantlets for licensed producers globally. To support this vision, Segra has assembled a world-class team of specialists in the fields of agronomy, molecular genetics, plant tissue culture, and regulatory compliance. Learn more at www.segra-intl.com
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management 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 projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.