#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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