Adastra Submits Sales Licence Amendment
LANGLEY, BC / ACCESSWIRE / August 5, 2020 / Adastra Labs Holdings Ltd. (CSE:XTRX)(FRANKFURT:D2EP) (“Adastra”) a Health Canada Licensed cannabis processing and analytical testing services Company, is pleased to announce the submission of its federal sales licence amendment to Health Canada.
“The submission of sales licence amendment is significant as it represents the successful operationalization of Adastra’s extraction, formulation, and product manufacturing capabilities. In our initial operations, Adastra has extracted over 1700 kg biomass and manufactured over 30,000 vaporizer cartridges destined for the adult recreational market in Canada.” – Dr. Kyle Boniface, Director of Production.
The extraction, formulation, and manufacture of the vaporizer cartridges forms the basis of Adastra’s Health Canada sales license submission package. Adastra is committed to continuous improvement and achieving the highest standard of product quality. Currently, Adastra is able to provide B2B client white labeling services for multiple distillate-related products including bulk distillate, tinctures, vaporizers, and formulations for beverages and edibles.
“This is a significant milestone for Adastra as we increase production. While our B2B orders are filling our capacity, upon approval, the sales licence will allow us to offer a wider range of services to our clients and fill the increased capacity we are bringing online in the near future.” – Andy Hale, CEO.
About Adastra Labs Holdings Ltd.
Adastra Labs Holdings Ltd. is a Langley, BC-based cannabis company with a co-located Health Canada Licensed Standard Processing Facility and Analytical Testing Laboratory. Adastra can produce cannabis extract through supercritical CO2 extraction and secondary distillation as well as conduct in-process quality testing. Such extracts can easily be incorporated into edibles, beverages, topicals, tinctures, vape cartridges and other products that will serve the Canadian medical and adult-use cannabis markets.
Andrew Hale
Chief Executive Officer
Adastra Labs Holdings Ltd.
Phone: (778) 715-5011
Email: andy@adastralabs.ca
Stephen Brohman
Chief Financial Officer
Adastra Labs Holdings Ltd.
Phone: (778) 715-5011
Email: steve@adastralabs.ca
Address: 5451 275th Street, Langley, BC V4W 3X8
Telephone: 778-715-5011
Fax: 844-874-9893
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: Adastra’s expectations concerning fulfilling its obligations under its agreements, purchase orders and receiving the economic benefits of such agreements or purchase orders. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Adastra assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
SOURCE: Adastra Labs Holdings Ltd.
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