Phyto Extractions Inc.
15.7.2021 15:04:07 CEST | ACCESS Newswire | Press release
LANGLEY, BC / ACCESSWIRE / July 15, 2021 / Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX)(Frankfurt:D2EP) ("Phyto Extractions™, "Phyto" or the "Company") has secured a supply agreement for dried cannabis with a major Canadian License Holder. The supply agreement will provide upwards of 12,000 kgs of dried cannabis biomass over six months.
Phyto Extractions Inc.'s, wholly owned Health Canada licensed subsidiary, Adastra Labs Inc. will leverage its agricultural scale extraction, formulation and product fulfillment capabilities to produce an estimated 1,500 kg of high-value cannabis concentrates. These concentrates will be incorporated into consumer-packaged goods under the Phyto Extractions™ brand, for distribution across Canada. Additionally, the scientific team at Phyto will make use of their industry-leading cryogenic ethanol and hydrocarbon extraction systems to efficiently produce distillate, with over 90% THC, shatter, full-spectrum shatter vaporizer cartridges and other hydrocarbon derivative products. These products will generate up to $74,985,000 in retail sales across Canada. (BC Cannabis Stores). Fulfillment of this supply agreement will represent 1/3 of the company's extraction capacity, allowing Phyto Extractions™ to continue to expand its operations and product lines with new brands and partners.
Phyto will be able to reduce its produced per gram cost by over 25% by acquiring the low-cost input cannabis. These savings will then be passed along to consumers. Aggressive price reductions at retail locations will facilitate substantial expansion to major Canadian cannabis markets, while consistent supply will support continual growth within existing product offerings.
"The security of supply at such an attractive price will allow Phyto Extractions™ to grow with increasing demand of it's already popular SKUs and expand its hydrocarbon extraction product offerings across the country at extremely competitive prices for retailers and consumers alike," said Donald Dinsmore, COO.
To learn more about Phyto Extractions™ and the team, please watch the following video:
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 PHYTO EXTRACTIONS INC. (CSE: XTRX)
Contact: Michael Forbes, President, CEO & Director (Chairman)
Phone: 778-715-5011
Email: michael@phytoextractions.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.
View source version on accesswire.com:
https://www.accesswire.com/655670/Phyto-Extractions-Secures-Biomass-Supply-Agreement
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
Miami Fashion Week(R) Celebrates 10 Years With a Landmark Anniversary Edition, October 13-18, 202626.10.2026 15:00:00 CET | Press release
MIAMI, FL / ACCESS Newswire / October 26, 2026 / Miami Fashion Week® (MIAFW) celebrated its landmark 10th anniversary October 13-18, 2026, bringing together international designers, Latin American talent and Miami's creative community for six days of runway presentations, industry programming and special events. The milestone edition celebrated a decade of connecting Miami with the international fashion industry while continuing to expand beyond the runway through sustainability, technology, education and cultural exchange. Further strengthening its ties to the local community, MIAFW established a long-term partnership with Miami Dade College and Miami Fashion Institute. Images: Courtesy of Miami Fashion Week "Celebrating 10 years of Miami Fashion Week is an incredibly meaningful milestone," said Lourdes Fernandez-Velasco, Executive Director of Miami Fashion Week. "Over the past decade, we've built a platform that connects designers, creatives and industry leaders from around the world
Chervon Names Parker Wesley Clary Director of Field Sales - Southern Division26.10.2026 14:00:00 CET | Press release
NAPERVILLE, IL / ACCESS Newswire / October 26, 2026 / Parker Wesley Clary joins Chervon as Director of Field Sales - Southern Division, effective October 26, 2026, reporting to Thomas Kentouris, VP of Field Sales. Clary assumes responsibility for the Southern Division of the Chervon Field Sales Team. He is charged with developing a strong organization, building outstanding store-level merchandising and promotional programs. Most recently, Parker was a Key Account Manager for TTI/Milwaukee Pro Tools responsible for the Transportation Maintenance Vertical. His impressive career also includes a series of increasingly responsible positions in store coverage and field sales management. "Parker's exceptional sales and sales management skills will help us deliver our bold growth targets," said Thomas Kentouris. "He is a high-potential talent with a bright future ahead at Chervon." "The opportunity to be a part of Chervon's inspired high-performance culture was most compelling to me," said Par
Chervon names Joel Petersheim as Vice President, End User Research and Sales - OPE Commercial USA26.10.2026 14:00:00 CET | Press release
NAPERVILLE, IL / ACCESS Newswire / October 26, 2026 / Joel Petersheim joins Chervon as Vice President, End User Research and Sales - OPE Commercial, effective October 26, 2026, reporting to Joe Galli, CEO. Petersheim brings to Chervon 15+ years of experience at TTI/Milwaukee encompassing a series of increasingly responsible positions in sales, key account management, end user marketing, and sales management. Most recently, he held the position of Vice President Industrial Channel Sales - Northeast. Joel's impressive career also includes a series of director level end user marketing leadership roles focused on the MEP Verticals. His track record in converting key end users and in growing sales in each of his past positions was consistently outstanding. "Joel is a tremendous addition to the outstanding leadership team we are building at Chervon," said Joe Galli. "He is a high potential talent with a tremendous track record of success at the account and end user level." "I am enormously i
Chervon Names Maggie Jones Director of National Field Sales OPS26.10.2026 14:00:00 CET | Press release
NAPERVILLE, IL / ACCESS Newswire / October 26, 2026 / Maggie Jones joins Chervon as Director of National Field Sales Operations, effective October 26, 2026, reporting to Thomas Kentouris, VP of Field Sales. Jones will be charged with building out the support system, technology platform, and rigorous measurement/control process for the Chervon Field Sales Network. Most recently, Maggie was Divisional Sales Manager for TTI/Milwaukee where she was responsible for leading 140 field sales store coverage reps. She was an outstanding performer managing the high growth Texas region. Her career also included a series of store coverage and sales management positions in the Southeast USA. "Maggie is best described as an overachieving superstar," said Thomas Kentouris. "Her leadership skills, organization skills, and results orientation will serve her well as she builds our field sales team infrastructure." "I cannot wait to get started supporting Chervon's vision of industry leadership," said Jon
Jones Day Partners with Draftwise to Deploy Ontonomi Legal Ontology Across the Firm26.10.2026 13:30:00 CET | Press release
NEW YORK, NY / ACCESS Newswire / October 26, 2026 / Jones Day and Draftwise today announced a partnership under which Jones Day will deploy Ontonomi, Draftwise's legal ontology offering, across multiple practice areas. Jones Day is one of Ontonomi's founding partners. Together, Jones Day and Draftwise will work to structure and connect the Firm's proprietary intelligence, including the knowledge, precedents, positions, and experience built over decades of client work. Making that intelligence more accessible across the Firm will help lawyers make better-informed decisions, deliver better outcomes for clients, and accelerate how associates learn from the judgment of senior lawyers. Jones Day is a single, integrated global partnership of more than 2,500 lawyers across 40 offices in the Americas, Europe, the Middle East, and Asia. As an early adopter of AI, the Firm has made sustained investments in technology, specialized talent, and governance to integrate AI across its practice and cli
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom