Organic Flower Sets Record Date of Share Distribution

VANCOUVER, British Columbia, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Organic Flower Investments Group Inc. (CSE: SOW)(FWB: 2K6)(OTC: QILFF) ("Organic Flower" or “OFIG” or the “Company”) today announced that it has set a record date (the “Record Date”) for the distribution (the "Distribution") of common shares in the capital of AgraFlora Organics International Inc. (“AgraFlora Common Shares”). As previously announced, the Company sold its cannabis industry focused downstream and product formulation portfolio to AgraFlora earlier this year. As consideration for the sale of the portfolio, the Company was issued an aggregate of 348,109,251 AgraFlora Common Shares.

The Company is pleased to confirm the Record Date for the Distribution has been set for Monday, January 6, 2020. The distribution date is set for Wednesday, January 8, 2020, whereby an aggregate of 116,036,417 AgraFlora Common Shares will be distributed to the shareholders of the Company on the Record Date, on a pro-rata basis. The Company has designed the Distribution as a shares distribution in the form of a return of capital, and as a result it is not required to issue any tax slips related to the Distribution.  Organic Flower Shareholders with questions regarding the tax treatment of the Distribution should consult with their own tax advisors.

Due to the current general market conditions and in the best interest of all stakeholders at this time, the remaining amount of AgraFlora Common Shares will be held by the Company until the Company is in a position to determine the most favourable option, in the best interest of Organic Flower shareholders, for dealing with the remaining AgraFlora Common Shares.

Only holders of Organic Flower common shares of record at the close of business on the Record Date will be entitled to the Distribution on January 8, 2020, on a pro-rata basis in accordance with their respective holdings. Holders of Organic Flower common shares before or after January 6, 2020, but not on such Record Date, will not be entitled to any part of the Distribution.

ABOUT ORGANIC FLOWER INVESTMENTS

Organic Flower is an investment company, that specializes in investing into private and public companies engaged in a variety of industries, with a focus in the bio-medical, pharmaceutical, and naturopathic sectors, which may include medical or recreational cannabis. The Company’s investment activities will be primarily focused on enterprises in the legal cannabis space located in Canada. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments