January 28th, 2020 – Adastra Labs Holdings Ltd. (“Adastra”) announces the installation of its cannabis processing equipment at their facility Langley, BC (the “Facility”). In early December Adastra accepted the delivery of a GMP-compliant Series 140 supercritical CO2 extraction system and post-processing equipment from extraktLAB, a brand of United Science LLC. The installation of the equipment required the sanitary supply of liquid CO2, CO2 exhaust, compressed air, chiller lines and high voltage power. The processing equipment is also tied in to Adastra life safety gas detection system to ensure the safest working environment for processing personnel.
Completion of the extraction equipment and post-processing equipment installation will allow Adastra to create high value cannabis extract products from cannabis plant material immediately following the issuance of a Standard Processing Licence from Health Canada. The Series 140 extractor and associated post-processing equipment is capable of efficiently and safely removing THC and CBD from over 58,000 kg of cannabis biomass per year without the use of hydrocarbon solvents.
“The installation of our CO2 extraction cannabis processing equipment will allow Adastra to fulfill our existing supply and toll-processing agreements with Licensed cultivators,” stated Adastra CEO Andy Hale.
About Adastra Labs Holdings Ltd.
In Canada, Adastra is a British Columbia-based publicly traded cannabis company and, through its wholly owned subsidiaries, Adastra Labs Inc. and Chemia Analytics Inc., is in the application process to become a Standard Processor and is licensed as an Analytical Testing Laboratory under the Cannabis Act administered by Health Canada, with licences to produce cannabis extracts and provide third party analytical testing services. These licences will further enable Adastra and its subsidiaries to produce, package, sell (wholesale), and export medically focused and recreational cannabis extract and concentrate products in Canada to other licensed entities and internationally in jurisdictions where medical cannabis extraction products are legal.
Address: 5451 275th Street, Langley, BC V4W 3X8
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 an increase in its production capacity. 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.