LANGLEY, BC / ISSUEWIRE / March 10, 2021 – Adastra Labs (2019) Inc. (CSE: XTRX) (FRANKFURT: D2EP) (“Adastra” or the “Company) announces the appointment of J. Scott Munro as President, CEO and Director (Chairman) effective March 1, 2021 in conjunction with the resignation and retirement of Andy Hale from said positions. We wish Andy all the best as he pursues other life passions and ambitions.
Figure 1 – Phyto Extractions Line Up of Concentrate Products and power cell.
This includes high-THC shatter production capacity > 50kgs per day that well positions the Company to leverage the acquisition of Phyto Extractions™ and its strong grass-roots brand recognition for high-quality and good value cannabis concentrates.
Figure 2 – ETS MeP™ XT70 Hydrocarbon Extractor assembly at Adastra Facility.
ON BEHALF OF THE BOARD
ADASTRA LABS (2019) INC.
Contact: J. Scott Munro, President, CEO & Director (Chairman)
Phone: (778) 715-5011
This press release may include 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 tobe correct. Forward-looking information in this news release, including any linked video or other information accessible by such link, includes those with respect of the possible acquisition of Phyto Extractions and the development and future business opportunities of the Company as described in this press release; there is no guarantee whether the acquisition will occur or if it does, it will be on the terms currently disclosed, and there is no guarantee whether any such acquisition or other transaction will have a net positive effect for the Company’s business or finances. There is also to guarantee that the Company’s current business will perform as it has in the past. The Company’s pending sales and R&D license applications are subject to Health Canada approval, and although Company’s management believes that it will receive the approval, there is no guarantee that such approval would be granted or granted within the timeframes or terms currently expected. Information about Phyto Extractions was received by the Company from Phyto Extractions and to the Company’s management’s knowledge is believed to be true as of the date of this press release only. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information or other information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, such as regulatory and business changes in the Company’s industry. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release. The CSE has not reviewed or approved of any contents of this news release.