Thursday, April 22, 2021
#Cannabis #Stock News: Phyto Extractions(TM) (CSE: $XTRX.C) (Frankfurt:D2EP) Announces Health Canada R&D License Addendum; @adastra_labs
#Cannabis #Stock News: Phyto Extractions(TM) (CSE: $XTRX.C) (Frankfurt:D2EP) Announces Health Canada R&D License Addendum; @adastra_labs
LANGLEY, BC - April 22, 2021 (Investorideas.com Newswire) Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX) (Frankfurt:D2EP) ("Phyto Extractions™" or the "Company") is pleased to announce that it has received its R&D license addendum in Adastra Labs Inc. that will permit some limited human testing by licensed researchers administering or distributing cannabis to human research subjects using cannabis obtained from a holder of a licence for processing in the final form of cannabis.
Read this new, featuring XTRX in full at https://www.investorideas.com/CO/XTRX/news/2021/04221RD-License-Addendum.asp
R&D License
This R&D license addendum will permit the Company to conduct in-house human testing for taste of various cannabis products for assessment of taste, sights, smell, or touch of cannabis.
“We look forward to initiating human-studies and generating valuable consumer-based data to support our product development pipeline and continue delivering high-quality efficacious cannabis products to Canadians.” Stated Dr. Kyle Boniface, PhD.”
About Phyto Extractions™
Phyto Extractions™ is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction and products, no cultivation), Sales (extracts, topicals, and edibles), and R&D through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc.
ON BEHALF OF THE BOARD
ADASTRA LABS HOLDINGS LTD.
Contact: J. Scott Munro, President, CEO & Director (Chairman)
Phone: (778) 715-5011
Email: scott@adastralabs.ca
Forward-Looking Information:
This news release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements with respect of the proposed name change, proposed consolidation, the closing of the private placement and the use of proceeds thereof. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the cannabis extraction sector in general; (iii) inability to close the private placement for any reason, or in the amounts expected by the Company; and (iv) other factors beyond the control of the Company.
Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
The CSE has not reviewed or approved of any contents of this news release.
SOURCE: Phyto Extractions Inc.
Phyto Extractions Inc. (CSE:XTRX) (Frankfurt:D2EP) is a featured Cannabis stock on Investorideas.com
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Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: XTRX is a featured cannabis stock on Investorideas.com and the cannabis potcast effective April 14 More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
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#Pet #Stocks in the #Stock News: Link Reservations Inc / LinkResPet (OTC: $LRSV) Developing #CBD Product To Combat #PetObesity, @res_pet
#Pet #Stocks in the #Stock News: Link Reservations Inc / LinkResPet (OTC: $LRSV) Developing #CBD Product To Combat #PetObesity, @res_pet
London, UK – April 22, 2021 - Breaking CBD stock news from Investorideas.com Newswire- Link Reservations Inc. (OTC: LRSV), a provider of wellness and cannabidiol (CBD) products for both humans and pets, announces it is exploring the development of a new LinkResPet CBD product to aid pets dealing with obesity and weight problems. The new tincture will promote fat loss and increase energy levels in animals.
Read this news, featuring LRSV in full at https://www.investorideas.com/news/2021/cannabis/04221LRSV-CBD-Pet.asp
Obesity and weight problems are an existing issue in people’s lives, whether they hear about it or encounter it in their lives. However it is not exclusively a human problem, our pets are suffering too. Just in North America, approximately 25-30% of the general canine population is obese, with 40-45% of dogs aged 5-11 years old weighing in higher than normal. As with humans, the additional weight can increase the risks of health issues in the animals’ lives – from a shortened life expectancy to problems like diabetes, kidney disease and arthritis – and owners whose pets carry additional weight are likely to see their pets’ quality of life degrade.
On a mission to combat this, LinkResPet is exploring the development of a CBD solution to help obese and overweight pets get back to a healthy weight. Intended to be used as a supplement to a restricted calorie diet, the specialized weight-loss promoting product will have a CBD base and be 100% natural. Different ingredients are being considered but the end product will be aimed at helping metabolise fat and create further heat and energy.
Rene Lauritsen, CEO at Link Reservations Inc. commented: “Our main goal has always been to improve and maintain the quality of life of pets through natural solutions. Obesity is a problem that affects more than half of US pets and as such it is of high priority for us. We are researching the different options and aim to have a 100% natural product ready for production soon. It is a new venture for us, in that we are taking the benefits of CBD and advancing them through other functional ingredients to tackle specific pet health issues, and we are incredibly excited to see what the final product looks like. I look forward to updating our shareholders with any further developments as we reach each milestone in the product strategy.”
LinkResPet already markets CBD products for dogs, cats and horses. Its sister brand, DailyLifeCBD offers CBD & functional mushroom wellness products for people.
The weight loss product is currently in research stage with the aim of launching later in the year.
About Link Reservations Inc.
Link Reservations Inc is a CBD and wellness product provider dedicated to improving the health and life conditions of both people and pets worldwide. Its trades through its two brands; LinkResPet and DailyLifeCBD. LinkResPet develops and markets hemp-based CBD products for cats, dogs and horses. DailyLifeCBD provides everyday hemp based CBD wellness products for people. The Company has operations in both the US and Europe.
Forward-Looking Statements & Disclaimers:
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this document, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
Linkreservations Inc
400 Thames Valley Park Drive
Reading Berkshire RG6 1 PT
United Kingdom
Phone: +44 330 808 0897
Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring LRSV is a paid for news release on Investorideas.com More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
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Wednesday, April 21, 2021
Investor Ideas #Potcasts 555, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C) (TSX: $FAF.TO) (CSE: $AION.C) (CSE: $IPOT.C) (OTC: $ISCNF) (TSX: $WEED.TO) (NASDAQ: $CGC)
Investor Ideas #Potcasts 555, #Cannabis News and #Stocks on the Move; (CSE: $XTRX.C) (TSX: $FAF.TO) (CSE: $AION.C) (CSE: $IPOT.C) (OTC: $ISCNF) (TSX: $WEED.TO) (NASDAQ: $CGC)
Delta, Kelowna, BC, April 21, 2021 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2021/042121-StocksToWatch.mp3
Read this in full at https://www.investorideas.com/news/2021/cannabis-potcasts/04211XTRX-FAF-AION-IPOT-ISCNF-WEED-CGC.asp
Hear Investor ideas cannabis potcast on iTunes
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Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
Today’s podcast is sponsored by Phyto Extractions Inc. (CSE:XTRX), an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D license amendment.
In today’s podcast we look at a few private and public company announcements.
Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF) and its indirect wholly-owned subsidiary Hifyre Inc., today announced the milestone achievement of 250,000 Spark PerksTM members across the Fire & Flower retail network.
Spark Perks members receive special benefits where permitted, including: Spark Fastlane TM click-and-collect checkout, personalized recommendations, curbside pickup, free rapid delivery, and exclusive deals. No cannabis purchase is required to join the free program.
The Sparks Perks program is now available across all Fire & Flower banners including Friendly Stranger, Happy Dayz and Hotbox and delivers personalized product recommendations to members.
"A core metric in our business is lifetime customer value and the cost of customer acquisition. We believe Spark Perks customers have the highest lifetime customer value in the industry through their larger basket sizes, more frequent visits and the diversity of products they consume," said Trevor Fencott, Chief Executive Officer of Fire & Flower.
"While growing rapidly, we have also focused on a low cost of customer acquisition. Although metrics such as same store sales are important, as an evolved technology-enabled retail company we focus on customer engagement metrics that will be critical as our platform scales to the U.S."
Key Metrics from the Spark Perks Program:
● Members who order from Same Day Rapid Delivery spend 110 per cent more than non-members and have 90 per cent larger baskets than non-members
● Members served through Fastlane pickup spend 49 per cent more than non-members in-store
● Members transacting in-store have 27 per cent larger basket sizes than non-members with 19 per cent more items in their baskets
The Spark Perks program leverages the HifyreTM advanced digital retail and analytics platform. Hifyre is the leading Canadian data and analytics platform within the cannabis industry and recently entered into a strategic agreement with BDS Analytics Inc. ("BDSA") to incorporate Hifyre's Canadian digital retail and analytics into BDSA's existing online U.S.-based market research platform. As part of the agreement, BDSA will offer Hifyre IQ Canadian cannabis data to its U.S.-based clients and Hifyre will be able to provide U.S. data from BDSA to its Canadian clients, allowing both companies to offer enhanced, cross-border data to their respective consumer bases.
The company also announced that it will release its financial and operational results for fourth quarter and the fiscal year of 2020 ended January 30, 2021 before financial markets open on April 27, 2021. The results will be available on SEDAR and on the Company's website at https://fireandflower.com/investor-relations.
Following the release of the results, Fire & Flower will host a conference call with Trevor Fencott, President and Chief Executive Officer, and Nadia Vattovaz, Executive Vice President, Operations and Chief Financial Officer at 8:30 a.m. EDT on April 27, 2021. The conference call will discuss Fire & Flower's fourth quarter and fiscal year 2020 financial and operational results and updates on the Company's plans for fiscal year 2021.
Aion Therapeutic Inc. (CSE: AION) announced today that its proprietary and patented combinatorial mushroom preparations AION F7 and AION F8 (collectively, the "Aion Mushroom Preparations" or "Preparations") showed high efficacy in killing HER2+ breast cancer cells, ER+/PR+ breast cancer cells, and triple-negative breast cancer cells by direct cytotoxicity.
As shown in recently completed third-party independent and carefully controlled 3D-spheroid cell culture studies performed at BIOENSIS laboratories, these cytotoxicity studies demonstrated direct killing of the breast cancer cells by the Aion Mushroom Preparations, which suggests such preparations may be effective in treating HER2+ breast cancer, ER+/PR+ breast cancer, and the very difficult to treat triple-negative breast cancer, with each of these types of breast cancers tested independently.
In separate independent studies at BIOENSIS laboratories using the Antibody-Dependent Cellular Cytotoxicity (ADCC) assay and the Antibody-Dependent Cellular Phagocytosis (ADCP) assay, the Aion Mushroom Preparations also demonstrated enhanced cell killing of HER2+ breast cancer cells via stimulation of the immune system. The Preparations showed similar effectiveness as trastuzumab, a monoclonal antibody treatment sold under the brand name Herceptin, manufactured by Roche and is a US FDA approved medication useful for treating HER2+ breast cancer that is either early-stage or advanced-stage/metastatic.
Herceptin (trastuzumab) is the leading breast cancer drug with annual global sales of around $7 billion.1 Other FDA approved biosimilar trastuzumab products include: Trazimera (Pfizer), Kanjinti (Amgen), Ontruzant (Merck), Herzuma (Teva), and Ogivri (Mylan). When Aion Mushroom Preparations were combined with Trastuzumab, there was a greater than 60% increase in the killing of HER2+ breast cancer cells when compared to Trastuzumab used alone.
Based on these results, Dr. Herbert A. Fritsche, Chief Science Officer of Aion Therapeutic and former Professor and Director of Clinical Chemistry at the University of Texas, MD Anderson Cancer Center, stated, "The extremely exciting results obtained from these independent 3D cell culture studies suggests that when appropriate Aion Mushroom Preparations are used together, they may offer a dual approach to the killing of HER2+ breast cancer cells through two separate and distinct pathways (direct cytotoxicity and antibody dependent cytotoxicity). The significant improvement in cancer cell cytotoxicity that was observed when the Preparations were combined with Trastuzumab warrants immediate further investigation in breast cancer patients." Dr. Fritsche continued, "We look forward to the next step of initiating clinical trials of the Aion Mushroom Preparations with and without Herceptin (and other trastuzumab biosimilars) for the treatment of HER2+ breast cancer patients as well as the Aion Mushroom Preparations alone in ER+/PR+ breast cancer and triple-negative breast cancer patients."
"Each year more than 1.6 million new cases of breast cancer are diagnosed globally, making it the most common cancer among women, and more than 500,000 women will die of the disease," said Graham Simmonds, Executive Vice Chair and CEO of Aion Therapeutic. He added, "We are excited that these Aion Mushroom Preparations that have shown very encouraging initial test results will be developed to be transformative in how women are treated globally."
Isracann Biosciences Inc. (CSE: IPOT) (OTC: ISCNF) an Israel-based company focused on becoming a premier low cost, high quality cannabis producer/distributor announced that it has been granted a Foreign Owners Cannabis License by the Israeli Minister of Health. This important event paves the way to conclude a number of outstanding key partnership and regulatory considerations in preparation for commercial operations.
In a press release issued on March 24, 2020, Isracann announced its entry into a joint venture (JV) agreement as part of a phased partnership of two near-term farm operations located in Ein Hahoresh, Israel. The agreement included an equitable sharing arrangement of both operating costs and revenue through participatory agreements comprising construction services, growing services, land lease agreements, IMCA licenses, and a number of sub agreements establishing and defining the various rights of all parties. Today’s announcement represents the removal of regulatory ownership barriers in order to fully execute the terms of the JV plan.
The highly sought-after foreign owners license significantly legitimizes the Company’s presence in Israel. There are only a small number of foreign owned sector participants who have obtained similar licencing, and Isracann is now favourably positioned to leverage certain advantages. Ownership licensing allows for greater access to domestic partnerships, increased participation in state-sponsored initiatives, and enhances access to financing. It also simplifies the Company’s ability to undertake domestic acquisitions, including the conclusion of its planned purchase of a third-party participant in the JV which would result in Isracann increasing its ownership position to 50%.
In related news, the Company has concluded all requisite construction and infrastructural installations in preparation for the commencement of planting and subsequent production at its Hefer Valley-based Ein Hahoresh Farm. Largely due to COVID-19 related delays, Isracann has a final regulatory hurdle to conclude which appears to be moving closer to conclusion. Based on discussions with our regional consultants, we are waiting for an inspection by law enforcement officials and concurrent Ministry of Health approvals. It is our understanding that scheduling for the inspection is imminent. Upon receipt, Isracann will have full approval to begin planting.
Regarding the recently announced medical cannabis import partnership LOI, Isracann is working diligently with the Israeli partner to conclude the agreement for the importation of Canadian products on an expedited basis. Additionally, Isracann is finalizing an agreement with its Canadian partners to secure high-grade genetic material for introduction into its Israeli-based genomics program. While regional strains have certain inherently excellent traits, Isracann aims to broaden product diversity, and through expert agronomy to achieve a selection of world-class offerings.
Isracann CEO, Darryl Jones states, “We continue to push ahead on multiple fronts. From product importation to new genetics programs on the one hand, today we also celebrate our official approval as foreign owners in this exciting sector. Now we can truly dig in to finalize matters and accelerate our efforts to fully enter the commercial marketplace. We’ve been in communication with all the relevant parties and now with the licensing in-place, a number of initiatives will be triggered almost immediately and should result in an accelerated pace towards revenue generation. We have to admit that we always thought the pandemic would create a delay, and it could have been worse. In the meantime, we have by no means been standing still and have used the opportunity to invest in added value and develop our relations throughout the region. Once again we thank our Israeli team of consultants and stakeholders who have proven to be invaluable at representing our interests so effectively and who share our vision for success.”
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, CBD and vaporization device company, today announced Southern Glazer's Wine & Spirits, the world's pre-eminent distributor of beverage alcohol, as the distribution partner for its U.S. portfolio of CBD-infused beverages. This partnership announcement follows the recent launch of Quatreau – Canopy's first line of CBD-infused beverages sold in the U.S market.
"Through this groundbreaking partnership, we will leverage Southern Glazer's established distribution network to bring our CBD beverage portfolio to retailers and consumers across the U.S. market," said Julious Grant, Chief Commercial Officer, Canopy Growth. "The leadership team at Southern Glazer's shares our values, priorities, and future-forward view of the category. Together, we are committed to creating an immediate strategic route to market for Canopy's premium CBD beverages."
Southern Glazer's will distribute Canopy Growth's CBD beverages, beginning with its CBD-infused sparkling water brand Quatreau™, across seven states, with additional states in the months to come. Southern Glazer's will be selling Quatreau™ through its existing commercial infrastructure, including its industry-leading Proof® e-commerce platform at sgproof.com. Canopy Growth is one of the first U.S. CBD beverage producers to access the nationwide network of a large-scale alcohol distributor to reach consumers across the U.S. at mainstream retail stores. The agreement also showcases the benefits of the company's strategic relationship with Constellation Brands, the global beverage leader.
"This agreement reinforces our consumer-focused approach to identifying emerging growth areas where we can add value for our customers," said David Chaplin, Chief Growth Officer, Southern Glazer's Wine & Spirits. "There is strong consumer interest in the CBD-infused beverage category and our distribution network is uniquely positioned to deliver the most efficient and effective route-to-market for CBD suppliers and retail customers. We're proud to align with Canopy Growth, a company well-positioned to lead this product category with a portfolio of premium, highly desirable consumer brands."
"Innovation in the beverage industry like we are seeing from Canopy Growth brings new energy to the marketplace and increases the level of consumer interest in all our products," added John Wittig, Chief Commercial Officer, Southern Glazer's Wine & Spirits. "We are excited to be adding Quatreau as the first CBD-infused beverage in our portfolio."
Quatreau sparkling water contains 20 mg of premium, U.S. grown hemp-based CBD, in four refreshing flavors: Cucumber + Mint, Passion Fruit + Guava, Blueberry + Acai, and Ginger + Lime. With an MSRP of $3.99 per 12-ounce can, Quatreau is a functional zero-sugar drink that delivers a natural, low calorie beverage alternative. The stateside launch follows the successful 2020 rollout of Quatreau in Canada, where it is now the top-selling ready-to-drink CBD beverage.
Once again, today’s podcast is sponsored by Phyto Extractions Inc. (CSE:XTRX), an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D license amendment.
Investor ideas reminds all listeners to read our disclaimers and disclosures on the Investorideas.com website and that this podcast is not an endorsement to buy products or services or securities. Investors are reminded all investment involves risk and possible loss of investment.
Learn more about our cannabis podcasts at https://www.investorideas.com/Audio/Potcasts.asp
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#Cannabis #Stock News: Phyto Extractions(TM) (CSE:$XTRX.C) (Frankfurt:D2EP) - Hydrocarbon Extraction Now Producing Shatter for Canadian Market; @adastra_labs
#Cannabis #Stock News: Phyto Extractions(TM) (CSE:$XTRX.C) (Frankfurt:D2EP) - Hydrocarbon Extraction Now Producing Shatter for Canadian Market; @adastra_labs
LANGLEY, BC - April 21, 2021 (Investorideas.com Newswire) Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX) (Frankfurt:D2EP) ("Phyto Extractions™" or the "Company") is pleased to announce that it is now producing cannabis shatter products for the Canadian market after wholly-owned subsidiary Adastra Labs Inc.'s commissioning of new hydrocarbon extraction equipment ahead of schedule.
Read this news, featuring XTRX in full at https://www.investorideas.com/CO/XTRX/news/2021/04211Hydrocarbon-Extraction.asp
With the arrival of the ExtractionTek Solutions MeP XT70 system, a high-performance hydrocarbon extractor, the team at Phyto Extractions can now process over 400 KG per day of cannabis biomass into a variety of hydrocarbon cannabis concentrate products. Focused on shatter production currently, this translates into over 50kg of high-quality product output per day.
Phyto Extractions™ has launched three new shatter cannabis products: Pink Kush, Blue Gorilla OG, and D. Bubba that will serve the over 9 million Canadians currently in the cannabis market with its one-gram offerings. The Company's increasing market share in the disposable vape, vape cartridge, and live resin markets, strengthens the brand's launch of its new flagship 'shatter' product line.
With relatively few players in the niche of shatter product space in Canada, this market expansion represents a significant opportunity given the forecasted growth of the Cannabis extract market.
Shatter video: https://youtu.be/Bo4VWLSAT7o
Phyto Extractions™ growth in cannabis market shares
The current cannabis extract market has seen a huge boom in sales from the past year, in which demands for cannabis extracts are rising steadily. Canadian cannabis extract sales observed an exponential 315% growth rate for the past two years, from 320,201 non-medical sales in Oct. 2019 to 1,328,769 sales in Oct. 2020, and over 200% sales growth rate including all medical and non-medical sales. Rising demand for cannabis extract products requires reasonable supplies from producers for cannabis enthusiasts.
As a leading producer of cannabis extracts, Phyto Extractions™ continues to innovate and adopt trusted extraction methods, like hydrocarbon, to bring Canadians quality cannabis products.
Hydrocarbon extraction is the most popular cannabis extraction method used to extract tetrahydrocannabinol (THC) from cannabis plants. Usage of hydrocarbons like propane or butane is heavily involved in the extraction process. One of the popular hydrocarbon extractors that uses this method is the ExtractionTek Solutions MeP XT70 system, which is the current system in use at the Company.
About Phyto Extractions™
Phyto Extractions™ is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc. Adastra Labs also has a pending Health Canada R&D license amendment.
ON BEHALF OF THE BOARD
ADASTRA LABS HOLDINGS LTD.
Contact:
J. Scott Munro, President, CEO & Director (Chairman)
Phone: (778) 715-5011
Email: scott@adastralabs.ca
Forward-Looking Information:
This news release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements with respect of the proposed name change, proposed consolidation, the closing of the private placement and the use of proceeds thereof. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the cannabis extraction sector in general; (iii) inability to close the private placement for any reason, or in the amounts expected by the Company; and (iv) other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
The CSE has not reviewed or approved of any contents of this news release.
SOURCE: Phyto Extractions Inc.
Phyto Extractions Inc. (CSE:XTRX) (Frankfurt:D2EP) is a featured Cannabis stock on Investorideas.com
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