Cannabis Agriculture Technology Company, Segra International, Closes Additional Equity Funding of $6.0MM CADApril 23, 2021
VANCOUVER, British Columbia, April 22, 2021 (GLOBE NEWSWIRE) — Segra International Corp, a Canadian agriculture technology company and a global leader in Cannabis plant tissue culture, is pleased to announce the closing of $6.0MM CAD in equity financing. 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 success in Segra’s first eighteen months as a licensed operator, generating revenue through our suite of products. With one of the largest libraries of Cannabis cultivars in tissue culture globally, our customers look to us for access to true-to-type, Verified Clean Stock plantlets to mitigate the risks and challenges of large-scale cultivation and to meet evolving consumer demands. Segra has signed 50 agreements with Canadian and international cannabis companies since the start of 2020, all while our unparalleled research team continues to drive its innovation pipeline. This newest round of investment will allow Segra not only to continue to grow as a company but also to drive forward the future of how Cannabis is cultivated,” says Jamie Blundell, Chief Executive Officer, Segra International. About Segra: Segra is an agriculture technology company offering plant tissue culture, genomics, DNA fingerprinting, and pathogen detection 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. Segra has developed industrial-scale laboratories to produce Verified Clean Stock, 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. For Further Information:Carson Otto – Segra [email protected] Forward-Looking Information: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.