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 fulfillment of its purchase order for bulk distillate and an order for 30,000 vaporizing cartridges from CannMart Inc. (“CannMart”) a majority owned subsidiary of Namaste Technologies Inc. (“Namaste”) (N) (M5BQ) (NXTTF
Adastra’s CO2 extraction process line was used to fulfill this bulk distillate order that will be used in CannMart’s licensed formulations for vaporizing cartridges, disposable vaporizers and vaporizing kits for its concentrate SKUs. This CO2 extraction line has a capacity of over 90 KGs of high-grade distillate a week, representing a 0.5 gram vaporizing cartridge capacity of 180,000. This CO2 production line will be soon repurposed to manufacture other higher margin, niche CO2-derived extract products (e.g. High Terpene Full Spectrum Extracts/Terp sauce) when an additional higher-capacity cryo-ethanol extraction line is installed and commissioned , which is expected to be completed within a month .
Figure 1 – High-grade Cannabis Distillate Produced by Adastra
Adastra validated its formulating and filling procedures while honing its quality and process control measures to ensure the highest quality products for its client CannMart. These two vape cartridge formulation runs formed the basis of Adastra’s Health Canada sales licence submission package earlier this month. Currently, Adastra can provide B2B client white labeling services for multiple distillate-related products including bulk distillate, tinctures, vape, beverage and edible formulations.
Figure 2 – Adastra filled vaporizing cartridges and shipment to client
“We are pleased to announce the fulfilment of CannMart’s purchase order. Additionally, we have completed fulfillment our first large vape cartridge order with a client. This run of two new flavours for the CannMart licensed Phyto Extractions vape cart line will add to their offerings across Canada. These along with other purchase orders will help Adastra support CannMart’s line of branded concentrate products that are selling throughout most Canadian provinces.” – 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.
About Namaste Technologies Inc.
With headquarters in Toronto, ON, and offices in both B.C. and around the globe, Namaste Technologies is a leading online platform for cannabis products, accessories, and responsible education. The company’s ‘everything cannabis store’, CannMart.com, provides customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators, all on one convenient site. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions. Information on the Company and its many products can be accessed through the links below:
Address: 5451 275th Street, Langley, BC V4W 3X8
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law including statements relating to repurposing production lines, acquisition of equipment, expected product quality and margins, capabilities to provide white label products. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE and Health Canada, economic, business, competitive, political and social uncertainties, failure to acquire and commission equipment, unexpected contamination of products, saturation of the market for the Company’s current and proposed future product offerings, termination of expected supply agreements and loss of key personnel. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.
SOURCE: Adastra Labs Holdings Ltd.
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