Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) ("Adastra" or the "Company"), a Health Canada Licensed cannabis company focused on processing, sales, organoleptic and analytical testing, is excited to announce that its newly developed brand, Endgame, which was soft-launched last week, sold out in less than 24 hours of delivery to the British Columbia Liquor Distribution Branch ("BCLDB"). Endgame's initial SKU delivery included two varieties of vaporizer cartridges: Mosa x Blood Orange and White Rhino x Raspberry Lemon.
"We are thrilled to bring Endgame, our first exclusive in-house brand, to market," said Michael Forbes , Chief Executive Officer, Corporate Secretary and Director of Adastra. "Selling out on day one of launch demonstrates consumer appetite for a lower cost vaporizer that delivers on quality, flavour and convenience. With added production capacity, new orders are quickly being shipped to supply our customers."
In early April, Adastra plans to deliver two new Endgame shatter products to the BCLDB: Black Cherry Punch x Jack Herer and Jack Herer x White Rhino. These hydrocarbon extracted cannabis concentrates are gaining popularity in the Canadian cannabis market for their full spectrum extract potency and flavour.
Founded in 2018 and formerly known as Phyto Extractions Inc., Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking therapeutic applications. Adastra is recognized as a high-capacity processor and co-manufacturer throughout Canada . Adastra is known for its popular line of Phyto Extractions branded cannabis concentrate products available on shelves at over 1,400 adult-use retailers across the country. The Company also operates Adastra Labs, a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, BC , focused on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has successfully taken steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Psilocybin, Psilocin, MDMA, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by applying for a Controlled Substances Dealer's Licence, which is under review by Health Canada. Pending Health Canada approval, Adastra is poised to be a drug formulation and development leader in this emerging sector. In addition, with the recent acquisition of 1225140 B .C. Ltd., doing business as PerceiveMD, Adastra operates a multidisciplinary centre for medical cannabis and psychedelic therapies, working alongside doctors and healthcare professionals within the regulated environment to help create efficacious remedies that address the actual needs of patients.
This news release contains 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 to: Endgame brand's initial SKU launch and sell through; and the anticipated launch of new Endgame shatter products at the BCLDB this month. 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. Important factors that could cause actual results to differ materially from those expressed in the forward-looking information include: the availability of a qualified workforce; changes in regulations or licensing affecting the Company's business; reduced demand for cannabis and cannabis related products; reductions in the Company's retail space and store locations; and other factors beyond the control of the Company. 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.
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Adastra Holdings Ltd (CSE:XTRX,FRA:D2EP) is a licensed Canadian agricultural-scale cannabis extraction, distillation, product manufacturer, and retailer. Formerly known as Phyto Extractions Inc., the company is one of the best-known brands in the Canadian cannabis market. Its popular vapes, concentrates, and oil products are widely available at 1,400 retailers across Canada.
The company competes in the highly attractive worldwide cannabis market, The company competes in the highly attractive worldwide cannabis market, estimated to reach a value of US$50,251 million in 2021 and is expected to grow at a CAGR of 26.5 percent from 2021 to 2030. In addition to medical cannabis use, recreational use is on the rise as markets in countries like Canada have opened through regulation in recent years. Critical factors for success in this market include the ability to navigate the complex regulatory landscape, access to supply, manufacturing and processing capability, and strong consumer brands.
Adastra operates through three businesses:
1. Phyto Extractions™ is a high-quality grass-roots cannabis brand with extensive market presence throughout Canada. Our product portfolio is set to expand from 18 to 30+ SKUs in Fiscal 2021 with the following existing and new cannabis products in the pipeline: edibles, beverages, flower (bags, pre-rolls), hydrocarbon extracts (butter, diamond, shatter, terp sauce, wax), topicals (roll-on, creams, oils, oral spray, path), and existing product SKUs for vapes.
2. Adastra Labs is a Health Canada Standard Producer (cannabis extraction, no cultivation), cannabis product formulator/manufacturer, and licensed cannabis sales (extracts, edibles and topicals) operator with a 13,000 sq. ft. facility located in Langley, BC Canada. With our newly commissioned hydrocarbon extractor, we have increased extraction capacity up to 146,000 kgs per year (agricultural scale) that makes us one of the largest full-service cannabis extraction companies in Canada. We produce and manufacture both Phyto Extractions™ branded and white label cannabis extracts and products for sale throughout Canada.
3. Chemia Analytics (chemia.ca) is Adastra’s state-of-the-art in-house testing laboratory. The facility conducts quality assurance, quality control and Health Canada regulatory compliance testing for licensed cannabis producers and products. The company plans to establish Chemia as one of the most advanced cannabis analysis, product sampling, testing and R&D labs in the industry through strategic talent recruitment and a C$1 million capital expenditure investment.
The company’s flagship Shatter product line is a high potency and high purity wax and crumble cannabis concentrate. The product is third-party tested to ensure compliance and quality standards and includes three product SKUs – Pink Kush, Blue Gorilla OG and Death Bubba. Shatter exists within a niche market alongside relatively few competitors. As a result, Shatter has the potential to be a significant opportunity for Adastra Holdings Ltd to further penetrate the cannabis market.
The company has delivered strong financial results for the six months ending June 30, 2021. Highlights include 327% revenue growth to over C$1.8 million compared to the same period last year, driven by increased processing of cannabis biomass for third party licensed producers and in-house distillate production, and hydrocarbon extraction.
Adastra’s financial success is also directly linked to the company’s constant efforts to improve profitability. Most recently, the company reduced expenses by C$7,000 a month while increasing sales by 35%. The company’s shatter and vape products are responsible for around C$1.5 million in revenue. Adastra believes that given their existing presence and market success, they can grow sales to C$4 million per month by launching new products.
The company is led by a highly experienced management team, including cannabis industry pioneers and Ph.D. experts in plant medicine and plant biochemistry. Management strongly believes in the company’s ability to succeed, which is why the company has a tight share structure and is almost debt-free. Adastra also believes there is a blue sky ahead given its extensive presence and success in the cannabis market.
The flagship Shatter product is a signature high potency and high purity wax and crumble cannabis concentrate available in 1 gram sizes. Shatter strains come in Pink Kush, Blue Gorilla OG and Death Bubba. The product features 70% to 80% THC across product SKUs. All of Adastra’s concentrates are third-party tested to ensure compliance and quality standards.
Pink Kush contains 73.7% pure THC. The dominant terpenes are ɑ-caryophyllene, ɑ-Bisabolol and ɑ-Humulene. Pink Kush has a distinct sweet vanilla taste and scent.
Blue Gorilla OG is an Indica-dominant hybrid concentrate that contains 76.6% of THC. The dominant terpenes are ɑ-pinene, myrcene and ɑ-Humulene. Blue Gorilla OG has a blueberry flavor.
Death Bubba is a hybrid of two potent cannabinoids, Death Star and Bubba Kush, and contains 73.9% THC. The dominant terpenes are ɑ-Humulene, myrcene and ß-pinene. Death Bubba has a dank scent.
Shatter is fully extracted from butane in a closed-loop hydrocarbon system that effectively preserves the terpenes to provide consumers with a full-bodied and flavorful experience. First, the dried and cured flowers are harvested for extraction at cold to room temperature. Next, the cannabis flowers are stripped from the stems and broken up at room temperature. Then, the product is extracted with 100% butane, a hydrocarbon solvent, that captures the cannabinoids and flavonoids and filters out the undesirable plant matter, lipids and waxes at cold temperature. Once processed, the solvents are quickly purged in a vacuum oven at low heat, which leaves the final Shatter product.
On September 3, 2021, Adastra announced that it launched the Phyto Extractions full spectrum Shatter Vape Cartridge line. This product offers a convenient-use format to the fast-growing extracts segment of the Canadian adult-use marketplace.
Firestick includes vape carts available in 1 gram, distillate vape carts and kits available in 0.5 gram and disposable vape pens available in 0.3 gram. Firestick vape carts come in pink kush, blueberry, green apple, grapefruit haze, orange, watermelon and blue raspberry. Firestick vape pens come in pineapple express, super lemon haze, blueberry and pink kush. The product features 80% to 90% THC across product SKUs. All of Adastra’s vape products are third-party tested and formulated with botanical terpenes created by an experienced formulation team. The Firestick product has been a commercial success with the company receiving few returns of the product.
The company uses CCELL® carts with ceramic coils for all vape carts and batteries. CCELL® carts are industry-leading technology with very low failure rates. Vape cart formulations are made under the terpenes threshold for CCELL® carts, which results in fewer leaks. The vaporizer also features a multi-temp M3B battery which allows consumers to choose between three different temperature settings for customizable consumption.
Firestick vape carts are produced starting with cryo-ethanol production, in which cannabinoids and terpenes are dissolved, and phyto-compounds are removed by chilling ethanol to -40 degrees Celsius. Then, a crude extract is created by falling film evaporation to remove the ethanol. Next, THCA is converted to THC by heating the crude extract through a process called decarboxylation. Then, cannabinoids are refined and separated from the crude extract through a short path wiped film distillation machine, leaving a distillate. Lastly, the distillate is tested to ensure it meets strict Health Canada guidelines in quality control and then combined with the desired terpene formulation. The lead time for 30 to 150 kg requires 2 to 3 days for extraction and 2 to 3 days for processing.
Live Resins are potent cannabis concentrates available in 0.5 grams. Live Resins come in Maple S and BCN Critical XXL. The product features 73% to 77% THC across product SKUs. All of Adastra’s concentrates are third-party tested to ensure compliance and quality standards. The product can also be used in vaporizers.
BCN XXL Critical is an Indica strain of live resin used by cannabis consumers and growers. BCN XXL Critical contains 76% to 77% THC content and 1.5% total terpenes. The dominant terpenes present are Limonene, ß-caryophyllene and Linalool, which provide a citrus profile with crisp lemon notes.
Maple S Live Resin is a hybrid strain of live resin that is ideal for new cannabis users. Maple S contains 73% to 74% THC and 6.2% total terpenes. The dominant terpenes present are ß-Myrcene, Limonene and ß-Caryophyllene, which provide a spicy and flavorful profile.
Live Resins are fully extracted from butane in a closed-loop hydrocarbon system that effectively preserves both volatile and non-volatile terpenes to provide consumers with a full-bodied and flavorful experience. First, the mature cannabis plants are harvested and flash-frozen to seal in the freshest and most aromatic terpenes. Next, the cannabis flowers are stripped from the stems and partly broken up. Then, cannabinoids and flavonoids are extracted with pure butane, a hydrocarbon solvent, which simultaneously filters out the undesirable plant matter, lipids and waxes. Lastly, the solvents are removed slowly in a vacuum oven during post-processing. The entire production process is completed at cold temperatures to preserve quality. As a result, Live Resins are best stored in a cool, dark place.
Terp Sauce is a full-spectrum oil available in cartridges of 0.5 grams. Terp Sauce is available in Mandarin Cookies.
Terp Sauce is made using an advanced CO2 extraction process from a single source flower which preserves the flower’s terpene profile and potency. The lead time for 30 to 150 kg requires 1 to 3 days for extracting and anywhere from 2 to 4 days for processing.
Sitka Adds High-Quality Craft Flowers, Including Unique Genetics Previously Unavailable in Canada to Adastra Portfolio.
Mr. Forbes comes to Adastra Holdings Ltd.. with a background firmly rooted in medicine, cannabis production and entrepreneurship. Demonstrating his knowledge and experience in the cannabis industry, Mr. Forbes has founded five medical cannabis clinics, under the Concord Medical Clinic umbrella, built Clarity Cannabis and Honeycomb Cannabis retailers to over 10 locations, and has also founded the cannabis licensed cultivation facility, Sitka Weed Works, in Canada.
Having medical experience of over 16 years, Mr. Forbes has also built and operated pharmacy chains across British Columbia and Alberta, and founded a dozen medical clinics, including three methadone clinics in order to protect the public from drug diversion and increase accessibility to plant medicine.
Mr. Forbes graduated from the University of British Columbia in 2002 with a BSc. in Pharmaceutical Sciences, also achieving additional certification in Hormone Restoration, Age Management Medicine, and more recently, Cannabis Plant Production and Facility Management from Kwantlen Polytechnic University. Michael also has his private pilot’s license from Mount Royal Aviation College and was elected to attend the Ivey School of Business for Canada’s Top 40 under 40 in 2017 where he received an honorary MBA.
Donald is a professional plant biochemist with a background working with successful research groups at the University of Calgary where he earned his Bachelors and Masters of Science degrees in Plant Biochemistry. He was Operations Manager for Heart Rock Mountain Farms, CA, USA cannabis growers..
Priyanka Nalawade is a senior research and development chemist with extensive experience synthesizing and characterizing novel high-performance polymers obtained from renewable sources. Nalawade earned her Bachelor of Technology in Polymer Engineering at the Institute of Chemical Technology in Mumbai, India and a Ph.D. in Polymer Engineering at the University of Akron in Ohio in the United States.
Kyle is a professional chemist with a demonstrated ability to communicate technical and complex information to peers, industry and academic collaborators, students and the general public. He has proven cannabis industry experience directing programs for cannabis extraction, product development and R&D. He is also named the inventor on two patents related to polymer and materials science.
Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) ("Adastra" or the "Company"), a Health Canada Licensed cannabis company focused on processing, sales, organoleptic and analytical testing, is excited to announce that its newly developed brand, Endgame, which was soft-launched last week, sold out in less than 24 hours of delivery to the British Columbia Liquor Distribution Branch ("BCLDB"). Endgame's initial SKU delivery included two varieties of vaporizer cartridges: Mosa x Blood Orange and White Rhino x Raspberry Lemon.
"We are thrilled to bring Endgame, our first exclusive in-house brand, to market," said Michael Forbes , Chief Executive Officer, Corporate Secretary and Director of Adastra. "Selling out on day one of launch demonstrates consumer appetite for a lower cost vaporizer that delivers on quality, flavour and convenience. With added production capacity, new orders are quickly being shipped to supply our customers."
In early April, Adastra plans to deliver two new Endgame shatter products to the BCLDB: Black Cherry Punch x Jack Herer and Jack Herer x White Rhino. These hydrocarbon extracted cannabis concentrates are gaining popularity in the Canadian cannabis market for their full spectrum extract potency and flavour.
Founded in 2018 and formerly known as Phyto Extractions Inc., Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking therapeutic applications. Adastra is recognized as a high-capacity processor and co-manufacturer throughout Canada . Adastra is known for its popular line of Phyto Extractions branded cannabis concentrate products available on shelves at over 1,400 adult-use retailers across the country. The Company also operates Adastra Labs, a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, BC , focused on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has successfully taken steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Psilocybin, Psilocin, MDMA, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by applying for a Controlled Substances Dealer's Licence, which is under review by Health Canada. Pending Health Canada approval, Adastra is poised to be a drug formulation and development leader in this emerging sector. In addition, with the recent acquisition of 1225140 B .C. Ltd., doing business as PerceiveMD, Adastra operates a multidisciplinary centre for medical cannabis and psychedelic therapies, working alongside doctors and healthcare professionals within the regulated environment to help create efficacious remedies that address the actual needs of patients.
This news release contains 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 to: Endgame brand's initial SKU launch and sell through; and the anticipated launch of new Endgame shatter products at the BCLDB this month. 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. Important factors that could cause actual results to differ materially from those expressed in the forward-looking information include: the availability of a qualified workforce; changes in regulations or licensing affecting the Company's business; reduced demand for cannabis and cannabis related products; reductions in the Company's retail space and store locations; and other factors beyond the control of the Company. 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.
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Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) ("Adastra" or the "Company"), a Health Canada Licensed cannabis company focused on processing, sales, organoleptic and analytical testing, is pleased to report that its wholly owned subsidiary Adastra Labs Inc. achieved a record month of production volume in February, more than doubling outputs.
Hydrocarbon Extraction Output Increased by 24% Since February, hydrocarbon extraction and processing run times more than doubled, increasing from an average of 2.5 runs per day to 6 runs per day, which equates to 48 kilograms of cannabis biomass extracted each day. In February, a total of 570.9 kilograms of cannabis biomass was extracted. 710.4 kilograms of cannabis biomass has been extracted in March, accounting for a 24% increase in production; this is representative of just one of Adastra's active processing lines.
The significant growth in cannabis biomass extraction was achieved by adding shifts and extending hours during the week. There has been an increase in demand for hydrocarbon-extracted shatter products for Adastra's 100% owned brand, Phyto Extractions, and fulfillments for the Company's co-manufacturing brands, along with the preparation for the launch of a highly-anticipated brand next month. The increased demand has led to seven hydrocarbon production runs per day, or approximately 56 kilograms of cannabis extracted daily. This does not account for Adastra's cryo-ethanol production line, and brings Adastra closer to achieving its goal of $5 million per month in sales by Summer 2022.
Filling and Packaging Increased by 75% In February, the production team filled and packaged 100,511 vaporizer cartridges and finished products. In March, 75,875 cartridges were filled in two weeks, with an anticipated total of 118,346 cartridges to be filled and packaged by the end of this month.
Filling increased from 6,000 cartridges to 10,500 cartridges per day, accounting for a 75% increase in one month.
"I am extremely proud of our team's commitment and performance which has enabled us to achieve another record production month," said Michael Forbes , Chief Executive Officer and Director, Adastra. "With more SKUs launching and co-manufacturing brands coming to market this Spring and Summer, Adastra intends to invest in more processing equipment, along with automation hardware and software to drive costs down and increase production outputs."
Corporate Update Adastra announces a recent update to its leadership structure with the departure of Chief Operating Officer, Corporate Secretary and Director, Donald Dinsmore , and the appointment of Michael Forbes as Corporate Secretary.
Donald Dinsmore commented, "After nearly four years of proudly working to build the Adastra team, I am parting ways to pursue other business endeavours. I look forward to what the future has to offer for both myself and the growth of Adastra."
"On behalf of the Board of Directors and the Company, I want to thank Donald for his guidance and support in growing Adastra," said Michael Forbes . "We wish him all the best in his next venture."
Founded in 2018 and formerly known as Phyto Extractions Inc., Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking therapeutic applications. Adastra is recognized as a high-capacity processor and co-manufacturer throughout Canada . Adastra is known for its popular line of Phyto Extractions branded cannabis concentrate products available on shelves at over 1,400 adult-use retailers across the country. The Company also operates Adastra Labs, a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, BC , focused on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has successfully taken steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Psilocybin, Psilocin, MDMA, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by applying for a Controlled Substances Dealer's Licence, which is under review by Health Canada. Pending Health Canada approval, Adastra is poised to be a drug formulation and development leader in this emerging sector. In addition, with the recent acquisition of 1225140 B .C. Ltd., doing business as PerceiveMD, Adastra operates a multidisciplinary centre for medical cannabis and psychedelic therapies, working alongside doctors and healthcare professionals within the regulated environment to help create efficacious remedies that address the actual needs of patients.
This news release contains 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 to: increased production volume; addition of processing, filling and packaging shifts; investment in equipment and automation hardware and software to drive costs down and increase production; anticipated new products, and the adoption thereof; goal of achieving $5 million a month in sales by Summer 2022; an anticipated total of 118,346 cartridges to be filled and packaged by the end of this month; and the timelines set out herein. 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. Important factors that could cause actual results to differ materially from those expressed in the forward-looking information include: the availability of a qualified workforce; changes in regulations or licensing affecting the Company's business; reduced demand for cannabis and cannabis related products; reductions in the Company's retail space and store locations; and other factors beyond the control of the Company. 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.
This news release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about the Company's expected goal of achieving $5 million a month in sales by Summer 2022 and anticipated total of 118,346 cartridges to be filled and packaged by the end of this month, which is subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of the Company may vary from the amounts set out herein and such variation may be material. The Company and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, the Company undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about the Company's anticipated future business operations. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein.
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Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) ("Adastra" or the "Company") a Health Canada Licensed cannabis company focused on processing, sales, organoleptic testing and analytical testing, is pleased to announce it completed the submission of its application for a Controlled Drugs and Substances Dealer's License ("Dealer's License") on March 23, 2022 .
A Dealer's License would permit Adastra to perform the following activities:
Known as a high-capacity processor of cannabis concentrates and extract products, and co-manufacturer for sought after Canadian brands, Adastra has now successfully taken the first steps to become a licensed tester, extractor, and seller of controlled substances, including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5-MeO-DMT, and LSD. When the Dealer's License is formally approved, Adastra expects to conduct the majority of this work out of its 13,500 square foot, purpose-built extraction, and production facility located in Langley, BC .
The Dealer's License application was originally filed in September, 2021 with a Health Canada audit performed on March 9, 2022 . Adastra responded to Health Canada's request for more information and successfully submitted its Dealer's License application on March 23 . Unless Health Canada comes back with an additional request for information, the Company expects the Dealer's License to be received by early April 2022 .
"We see the expansion of our capabilities as a significant opportunity for Adastra's partners and shareholders," said Michael Forbes , Director and CEO, Adastra. "We are known in the cannabis industry as a reliable partner to many licensed producers and believe broadening the research, production and sale of more regulated products to emerging markets will strengthen our cash flow and profitability. We are excited for what the future holds at Adastra."
Founded in 2018 and formerly known as Phyto Extractions Inc., Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking therapeutic applications. Adastra is recognized as a high-capacity processor and co-manufacturer throughout Canada . Adastra is known for its popular line of Phyto Extractions branded cannabis concentrate products available on shelves at over 1,400 adult-use retailers across the country. The Company also operates Adastra Labs, a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, BC , focused on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has successfully taken steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by applying for a Controlled Substances Dealer's Licence, which is under review by Health Canada. Pending Health Canada approval, Adastra is poised to be a drug formulation and development leader in this emerging sector. In addition, with the recent acquisition of 1225140 B .C. Ltd., doing business as PerceiveMD, Adastra operates a multidisciplinary centre for medical cannabis and psychedelic therapies, working alongside doctors and healthcare professionals within the regulated environment to help create efficacious remedies that address the actual needs of patients.
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 to the anticipated grant of the Dealer's License by Health Canada; the activities that the Company could conduct with a Dealer's License; the Company's expectations to conduct a majority of its work out of the extraction and production facility in Langley, BC upon approval of the Dealer's License; the effect that broadening the research, production and sale of more regulated products to emerging markets will have on the Company's cash flow and profitability; the changing regulations surrounding certain psychedelics and associated treatments; societal acceptance of psychedelic treatments; the ability of the Company to conduct testing, production, or sales of any compounds beyond cannabis; and the ability of the Company to work with partners such as medical doctors, pharmaceutical companies and pharmacies if it is permitted to conduct extraction research and develop psychedelic compounds. 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) changes in regulations surrounding multiple controlled substances; 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.
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VANCOUVER, BC / ACCESSWIRE/ March 15, 2022 / The Power Play by The Market Herald has announced the release of new interviews with Silver Bullet Mines, Northstar Gold, and Adastra Holdings on their latest news.
The Power Play by The Market Herald provides investors with a quick snapshot of what they need to know about the company's latest press release through exclusive insights and interviews with company executives.
Silver Bullet Mines (TSXV:SBMI) to begin mining at its Washington Mine in Idaho
Silver Bullet Mines (SBMI) has decided to initiate mining at its wholly-owned Washington Mine in Idaho. This part of the Washington Mine was last mined in the 1980s. A bulk sample removed by the then-owner resulted in a grade of 44 ounces silver per tonne and 10 grams of gold per tonne. Director and VP Capital Markets Peter Clausi spoke with Shoran Devi about the news.
For the full interview with Peter Clausi and to learn more about Silver Bullet Mines' news, click here.
Northstar Gold (CSE:NSG) announces final results from the Phase IIB drilling exploration program at the Miller Gold Property
Northstar Gold (NSG) has announced final results from the last 11 holes of a 14 hole, 2,495m drill program on its Miller Gold Property in Ontario. The Phase IIB Miller Gold Property drill program was completed on November 27th, 2021. Northstar's CEO Brian Fowler sat down with Shoran Devi to discuss the results.
For the full interview with Brian Fowler and to learn more about Northstar Gold's news, click here.
Adastra Holdings (CSE:XTRX) announces co-manufacturing Partnership with Zyre Brands Corp.
Adastra Holdings (XTRX) has signed a private label manufacturing agreement with Zyre Brands Corp. to bring Zyre Brands to market. Under the terms of this agreement, Adastra will manufacture custom-formulated cured resin vape products to sell under the Zyre brand in the Canadian adult-use market. CEO Michael Forbes sat down with Shoran Devi to discuss the news.
For the full interview with Michael Forbes and to learn more about Adastra's news, click here.
Interviews for The Power Play by The Market Herald are released daily. To learn more about the companies featured in The Power Play or to explore our other interviews visit The Power Play by The Market Herald.
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Adastra Holdings Ltd. (CSE: XTRX) (FRANKFURT: D2EP) ("Adastra" or the "Company") a Health Canada Licensed cannabis processing, sales, organoleptic testing, and analytical testing services company, is pleased to announce a private label manufacturing agreement with Zyre Brands Corp. ("Zyre").
Under the terms of this agreement, Adastra will manufacture custom-formulated cured resin vape products to sell under the Zyre brand in the Canadian adult-use market.
Adastra's ability to produce and formulate quality, in-demand concentrates and vape products has been demonstrated through their established Phyto Extractions brand. The inclusion of Zyre vapes into Adastra's production schedule establishes Adastra's strong footprint in the growing vape and concentrates segment. This agreement expands the Company's rapidly growing contract manufacturing portfolio, highlighting Adastra's capabilities across multiple business verticals.
"We felt Zyre's leadership team and brand strategy was a strong addition to the growing contract manufacturing portion of our business. Its background and success in growing cannabis companies and startups is admirable, and complementary in our burgeoning industry. This, paired with their focus on targeting the young adult GenZ customer as a vapes only brand, gives us confidence that they are heavily invested in growing this partnership to the benefit of both parties." Michael Forbes , CEO, Adastra Holdings Ltd.
"Adastra has a demonstrated track record of success. Its strong extraction and processing capabilities made them our top choice private-label manufacturer, suited to launch our vape brand for the up-and-coming adult consumer. We were impressed by the quality of their input material and extraction capabilities, and look forward to working with the team to introduce our consumer-focused brand into the Canadian adult-use vape market." Audrey Wong , CEO, Zyre Brands Corp .
Founded in 2018 and formerly known as Phyto Extractions Inc., Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking therapeutic applications. Adastra is renowned throughout Canada for its popular line of Phyto Extractions branded cannabis concentrate products available on shelves at over 1,400 adult-use retailers across the country. The Company also operates Adastra Labs, a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, BC ., focused on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has successfully taken steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by applying for a Controlled Substances Dealer's Licence, which is under review by Health Canada. Pending Health Canada approval, Adastra is poised to be a drug formulation and development leader in this emerging sector. In addition, with the recent acquisition of 1225140 B .C. Ltd., doing business as PerceiveMD, Adastra operates a multidisciplinary centre for medical cannabis and psychedelic therapies, working alongside doctors and healthcare professionals within the regulated environment to help create efficacious remedies that address the actual needs of patients.
The times are changing. Just think, Canadians born in the 2000's only know an adult world of legal cannabis. They won't know legacy when they're hitting their vape. Instead, they'll be looking for a brand that speaks to them. Zyre intends to grow with the evolving community as cannabis vapes become their go-to complement when unwinding, being creative, and enjoying good times. Zyre's Recline/Spotlight/Launch product lines are the sole Canadian vape-only brand in market, dedicated to helping consumers without knowledge of the legacy cannabis era, make decisions about what matters most to them; What activities should I use my vape for? Will I like how it tastes? This laser-sharp customer focus, combined with a regulated CPG-experienced executive leadership team, who have demonstrated success in scaling cannabis businesses and startups, sets Zyre to be the vape brand to watch. For those who want to join the journey find the Zyre community @ZyreLife on TikTok and Instagram and via their website: www.zyrelife.com
This news release contains 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 to: anticipated future manufacturing under the Zyre brand in the Canadian adult-use market; further expansion of Adastra's market share in the growing vape and concentrates segment; and the future anticipated growth of the partnership with the Zyre brand. 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. Except as required by law, the Company does not intend to update these forward-looking statements. Forward–looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward– looking statements, including, without limitation, adverse market conditions, and such other factors beyond the control of the Company and which are more fully described in the Company's annual and quarterly management's discussion and analysis and other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedar.com . Forward–looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward–looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward–looking statements.
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Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTCQX: NUMIF), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced that Payton Nyquvest Founder and CEO of Numinus, will participate in two upcoming investor conferences:
For more information about the conferences, or to schedule a one-on-one meeting with Numinus' management, please contact your appropriate representative directly, or send an email to KCSA Strategic Communications NuminusIR@kcsa.com .
Numinus Wellness helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.
Learn more at www.numinus.com and follow us on LinkedIn , Facebook , Twitter , and Instagram .
Statements and other information contained in this press release about anticipated future events constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event "may", "will", "should", "could" or "might" occur or other similar expressions. Forward-looking statements are subject to risks and uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.
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Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTCQX: NUMIF), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced that Payton Nyquvest Founder and CEO of Numinus, will participate in two upcoming investor conferences:
For more information about the conferences, or to schedule a one-on-one meeting with Numinus' management, please contact your appropriate representative directly, or send an email to KCSA Strategic Communications NuminusIR@kcsa.com .
Numinus Wellness helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.
Learn more at www.numinus.com and follow us on LinkedIn , Facebook , Twitter , and Instagram .
Statements and other information contained in this press release about anticipated future events constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event "may", "will", "should", "could" or "might" occur or other similar expressions. Forward-looking statements are subject to risks and uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.
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A cannabis legalization bill has cleared the US House of Representatives in a significant win for changing perspectives on the drug. But with experts pointing to gridlock in the Senate, what happens next?
Last Friday (April 1), an updated version of the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act made it through the House for the second time in its history.
While the news has generated hype in the market, the bill now has to clear the Senate before it can be signed into law by President Joe Biden — and numerous policy experts have said there's no chance that will happen.
Here the Investing News Network (INN) breaks down why the bill doesn’t appear to be on the way to passing Congress, even though a recent Gallup poll shows cannabis legalization is supported by a majority of Americans.
John Kagia, chief knowledge officer at New Frontier Data, told INN he’s not surprised to see the news-driven cannabis market pick up chatter based on the MORE Act vote.
However, he knows that despite the news, the context of the vote and the road ahead are more important.
“It's important not to presume that just because (the MORE Act was) able to clear the House, that it's going to get an easy run into the Senate,” Kagia said.
New Frontier Data is a cannabis-focused research and analytics firm that regularly publishes market reports.
The executive explained he views the Senate as a minefield for the bill. “In a much narrower and closely contested Senate, the ability to get the bills even tabled, let alone approved, tends to be a much higher hill to climb,” he said.
Kacey Morrissey, senior director of industry analytics with New Frontier Data, told INN that US politicians can see the projections for what a healthy, thriving cannabis industry in the country could bring.
She noted that for most experts, cannabis reform in the US is an inevitability. How the market gets there, however, is a different question to answer.
“Now I think we (are) just kind of splitting hairs, deciding who's actually going to benefit the most from this and how,” Morrissey said.
Following Biden's presidential victory in 2020, hopes about cannabis reform began to rise.
These expectations were quickly tempered as cannabis was not a priority for Biden's first 100 days in office, but when two Democrats won key Senate run-off elections — giving Democrats a fighting chance in the Senate — the potential for change was sparked again.
“There were perhaps unrealistically high expectations about how quickly this would go or how this might play out,” Kagia told INN.
As the situation stands, no cannabis reform has become law, and the issue hasn’t been present in direct words from Biden or Vice President Kamala Harris, despite campaign promises.
“Democrats had high hopes that, particularly during the first years of the Biden administration, there would be greater support from the administration to get this done,” Kagia said.
He told INN he thinks Democrats at large are “disappointed” with the current results.
According to the industry expert, the lack of support from Biden is clear to see. “We certainly have not seen any forceful amendment by the White House to try and get this done,” Kagia said.
In fact, there’s little indication Biden is on board the cannabis train — at least not with the current MORE Act.
A Marijuana Moment report indicates that White House Press Secretary Jen Psaki recently described the president as supportive of the need to “address the racial disparities and systemic inequities in our criminal justice system, broaden research on the effects of marijuana and support the safe use of marijuana for medical purposes.”
However, Psaki declined to outline Biden’s support on the MORE Act or any other specific cannabis policy.
In the past, Biden has also been shy about supporting adult-use cannabis outside of letting the states determine their own laws surrounding cannabis programs.
Kagia said he thinks it is next to impossible for any cannabis reform to take place before the midterm elections.
These elections will determine key political outcomes later this year, which makes them a critical review moment in terms of voter satisfaction with the current administration and its policies.
Early projections show there is a heated battle brewing in the Senate for winning a leading majority.
As of April 6, predictor RacetotheWH shows Republicans have a 48.89 chance of gaining a majority in the elections this year. There will be 34 Senate seats up for election in 2022.
“There is a growing recognition and concession that something needs to be done to at least address some of the most pressing issues,” Kagia said.
When asked what his expectation would be for cannabis policy in a GOP-led Senate, Kagia said after midterms there is a higher chance of piecemeal reform even if Republicans control the upper chamber of Congress.
“We do think there's actually perhaps a higher probability that following the midterms, even assuming that Republicans take control of one or both chambers of Congress, that you might be able to see something like banking get through,” Kagia said.
Banking reform by way of the SAFE Banking Act would be a key victory for the business of cannabis in the US and its current players. It is a measure that is long awaited in the investment world.
Despite the lack of progress on federal cannabis policy, Morrisey emphasized that the growth in the US storyline for the drug is already happening at the state level.
“I think the big numbers coming out over the next two years are going to drive a lot of new things on the ballot,” Morrisey said to INN. “We're going to see the northeast and the south kind of break open — the northeast for recreational use and the south for medical.”
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced its executive team will participate in the following conferences in April 2022 :
BTIG Virtual Global Cannabis Conference, April 6-7, 2022 : Jason Wild , Executive Chairman, will participate in a company presentation on Thursday, April 7, 2022 , at 9:40 AM ET , and management will also host a series of one-on-one meetings throughout the day.
Cantor 2nd Annual Virtual Cannabis Conference, April 12-14, 2020 : Mr. Wild will present to Investors on Tuesday, April 12, 2022 , at 11:00 AM ET , and management will participate in one-on-one meetings throughout the day.
Benzinga Cannabis Capital Conference, April 20-21, 2022 : Mr. Wild will participate in a keynote presentation hosted by Tim Seymour on Thursday, April 21, 2022 , at 12:30 PM ET , and management will host one-on-one meetings throughout the day. For more information on the conference, please click here .
About TerrAscend TerrAscend is a leading North American cannabis operator with vertically integrated operations in Pennsylvania , New Jersey , Michigan and California , licensed cultivation and processing operations in Maryland and licensed production in Canada . TerrAscend operates The Apothecarium and Gage dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets. TerrAscend's cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. The Company owns several synergistic businesses and brands, including Gage Cannabis, The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information, visit www.terrascend.com .
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Production Increase and Market Growth in Recreational Cannabis
Ayurcann Holdings Corp. (CSE: AYUR) (OTCQB: AYURF) (FSE: 3ZQ0) (" Ayurcann " or the " Corporation "), a leading Canadian cannabis extraction company specializing in the processing and co-manufacturing of pharma grade cannabis and hemp to produce various derivative cannabis 2.0 and 3.0 products in the medical and recreational market, is pleased to provide an update to its growth in production and market share in recreational cannabis in Canada .
Extraction & Refinement – annualized capacity of up to 300,000 kg and offers services that include bulk extraction, winterization, and fractional distillation.
Bulk Oil Sales – growth with consistent inventory of over 300 kg of THC and CBD available, providing the gold standard for bulk oil for licensed producers, manufacturers, and brands in the medical and recreational cannabis space.
White Label – solutions by working with multiple national and international brands for product development and commercialization, the Corporation has the knowledge and experience to successfully bring products to market.
Ayurcann sold THC and CBD distillate containing over 1 billion milligrams of cannabinoids into the Canadian market for vapes, tinctures, topicals and edibles, working with top selling brands throughout Canada and internationally.
Ayurcann has been nominated and won 2 industry awards as Top Canadian Processors and Top Tolling Provider in the Canadian Cannabis industry.
Ayurcann has entered and has fulfilled multiple orders from Ontario , Manitoba , Alberta , Saskatchewan , and New Brunswick , with the Fuego Vapes brand establishing itself as top sellers in the provinces.
The Vida Tinctures and Glow Topicals are growing their market share by providing value and high potency.
The Corporation entered into a letter of intent with Tetra Oils Inc. to purchase a 100% interest in their wholly owned subsidiary, Joints and Hustle & Shake Inc. (" Joints and Hustle "), which holds assets comprising the 'Joints' and 'Hustle and Shake' brands (the " Acquisition "). The brands have multiple SKU's and distribution into the Provinces of Ontario , British Columbia , Alberta , Manitoba , Saskatchewan , and New Brunswick . Ayurcann currently supplies all the required CBD and THC distillate and isolate for their products. With market leading products, under the 'Joints' brand, Joints and Hustle offers a selection of high potency CBD oils, while the 'Hustle & Shake' legacy focused on 3 Vape SKUs which are in market. Consideration for the Acquisition has been set at $7,200,000 to be satisfied through the issuance of 40,000,000 common shares of Ayurcann (the " Consideration Shares "). Upon completion of the Acquisition, the Consideration Shares shall be deposited into escrow with an escrow agent and pursuant to the terms of the letter of intent will be released in batches upon Joints and Hustle achieving certain milestones within 12 months of closing of the Acquisition. If the milestones are not achieved within 12 months, the Consideration Shares which have not been released to Tetra Oils Corp. pursuant to the terms of the escrow agreement, shall be returned to the Corporation for cancellation.
Ayurcann provided its recent Q2 financials showing its fourth continuous quarter of positive results.
Ayurcann launched a normal course issuer bid and continues to engage with investors and shareholders to support its efforts for what it feels is an undervalued asset in the Cannabis industry in Canada .
Market Penetration and New Opportunities
Ayurcann is working with 8 recreational cannabis brands and has over 500 provincial listings
Ayurcann is launching new SKUs into the market with distillate-focused products leading the way. The vape brands are Bravo6, Xplor and Oy Vapes, and Her Highness for Intimacy oils.
The Corporation has engaged Stockhouse Publishing Ltd. (" Stockhouse ") to assist in building awareness and to provide communications support for the Corporation. Stockhouse will arrange and disseminate independent research articles related to the Corporation as well as develop and implement social media strategy. The Corporation will pay Stockhouse $5,000 per month for its services over the next 6 months. For more info, please visit www.stockhouse.com .
The Corporation has engaged Independent Trading Group (" ITG ") to provide market making services in accordance Canadian Securities Exchange (" CSE ") policies. ITG will trade shares of the Corporation on the CSE and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Corporation's common shares. The Corporation will pay ITG $5,000 per month for its services. For more information, please visit www.independent-trading-group.com .
Chief Executive Officer of Ayurcann, Mr. Igal Sudman commented: "We are excited about the direction Ayurcann has taken and are thrilled to see our market penetration and revenues growing consistently. With new SKUs now listed in recreational cannabis in various categories throughout Canada , we are proud to be able to show continued growth."
Mr. Sudman further commented on operational growth and entry into new markets; "we continue to grow our production, innovation, and partnerships. With extraction capacity for bulk biomass of up to 300,000 kilograms per year and the ability to co-fill up to 3 million production products for the medicinal and recreational markets, we are confident in providing value for our shareholders and gathering market share in the industry."
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada . Ayurcann is striving to become a partner of choice for leading Canadian and international cannabis brands by providing best-in-class, proprietary services including extraction, formulation, product development and custom manufacturing.
Neither the CSE nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Corporation completing the Acquisition upon the terms and timelines disclosed herein; the Corporation launching new SKUs into the market with distillate-focused products leading the way; the provision of services being provided by Stockhouse and ITG pursuant to the terms of their respective agreements; the Corporation continuing the normal course issuer bid and purchasing common shares for cancellation thereunder; and the ability of the Corporation to become the partner of choice for leading Canadian cannabis brands.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Corporation will expand and be able to maintain production capacity; the Corporation's ability to continue as a going concern; continued approval of the Corporation's activities by the relevant governmental and/or regulatory authorities; the continued growth of the Corporation; the Corporation's successful implementation of its strategy to expand market share in extract and extract derivatives while providing exceptional products to consumers ; the Corporation's continuing ability to meet the requirements necessary to remain listed on the CSE and alternative exchanges; the Corporation completing the Acquisition upon the terms and timelines disclosed herein; the Corporation launching new SKUs into the market with distillate-focused products leading the way; the services being provided by Stockhouse and ITG pursuant to the terms of their respective agreements; the Corporation continuing the normal course issuer bid and purchasing common shares for cancellation thereunder; and the Corporation becoming the partner of choice for leading Canadian cannabis brands.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Corporation's inability to expand and/or maintain production capacity; the potential inability of the Corporation to continue as a going concern; the risks associated with the cannabis industry in general; increased competition in the cannabis extraction market; the potential future unviability of the cannabis market; risks associated with potential governmental and/or regulatory action with respect to the cannabis industry; the Corporation's inability to obtain continued regulatory approvals ; the Corporation's inability to successfully implement its strategy to expand market share in extract and extract derivatives while providing exceptional products to consumers ; the Corporation's inability to meet the requirements necessary to remain listed on the CSE and alternative exchange; the Corporation will not complete the Acquisition upon the terms and timelines disclosed herein or at all; the Corporation will be unable to launch new SKUs into the market; services will not be provided by Stockhouse and ITG and their agreement will be cancelled; the Corporation will be unable to continue the normal course issuer bid and purchase common shares for cancellation thereunder; and the inability of the Corporation to become the partner of choice for leading Canadian cannabis brands.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Corporation's expectations as of the date hereof and are subject to change thereafter. The Corporation undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
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Curaleaf Holdings, Inc. (CSE: CURA OTCQX: CURLF) ("Curaleaf" or the "Company") a leading international provider of consumer products in cannabis, today announced that it will report its financial and operating results for the first quarter ended March 31, 2022 after market close on May 9, 2022 .
Management will host a conference call and audio webcast that evening at 5:00 p.m. ET consisting of prepared remarks followed by a question and answer session related to the Company's operational and financial highlights.
Curaleaf First Quarter 2022 Financial Results Conference Call
+1-888-317-6003 (U.S.), +1-866-284-3684 (Canada) or +1-412-317-6061 (International)
https://ir.curaleaf.com/events
For interested individuals unable to join the conference call, a dial-in replay of the call will be available until May 16, 2022 and can be accessed by dialing +1-877-344-7529 (U.S.), +1-855-669-9658 ( Canada ) or +1-412-317-0088 (International) and entering replay pin number: 3727058
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States , Curaleaf currently operates in 23 states with 128 dispensaries, 26 cultivation sites, and employs over 5,600 team members. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com .
Curaleaf IR Twitter Account: https://twitter.com/Curaleaf_IR
Investor Toolkit: https://ir.curaleaf.com/investor-toolkit
Investor Relations Website: https://ir.curaleaf.com/
Investor Contact: Curaleaf Holdings, Inc. IR@curaleaf.com
Media Contact: Tracy Brady , VP Corporate Communications media@curaleaf.com
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