October 18th, 2018 – Adastra Labs Holdings Ltd. (“Adastra” or the “Company”) announces submission of licence applications to Health Canada for Adastra Labs and Chemia Analytics. “I am very proud of the team for being among the first in Canada, if not the first, to submit Standard Processing and Analytical Testing licence applications on the new CTLS rolled out by Health Canada just yesterday,” noted Andy Hale CEO of Adastra.
Just 32 hours after the new Cannabis Tracking and Licensing System (CTLS) went live, both Adastra Labs and Chemia Analytics submitted their licence applications to Heath Canada. The CTLS is a web-based application and case management system, established and maintained by Health Canada, through which applicants may apply for a cannabis licence to be issued by Health Canada and through which monthly tracking requirements must be submitted. The CTLS went live Canada-wide on October 17th, 2018.
“The CTLS upload and submission process for Adastra Labs’ Standard Processor licence was very straight-forward and intuitive. Clearly a lot of thought and testing went into development of the system by Health Canada to make for a smooth application process,” stated Donald Dinsmore, Quality Assurance Person for Adastra Labs.
Sister company Chemia Analytics had a similar experience as noted by Heald of Laboratory, Priyanka Nalawade, “I found the CTLS quite user-friendly. We hope our early submission will accelerate our licence application approval and look forward to working with Health Canada to facilitate this process.”
For further information, please contact:
Andy Hale, CEO
About Adastra Labs Holdings Ltd.
In Canada, Adastra (through its wholly owned subsidiaries, Adastra Labs Inc. and Chemia Analytics Inc.) is in the application process to become a Standard Processor and 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.
The Company’s operations include a facility in British Columbia, Canada. The Company is developing its 13,035 square feet facility to be fully devoted to standard processing and laboratory testing by late 2019, from which it expects to produce significant amounts of cannabis oil and/or hemp oil for the Canadian wholesale medical and recreational markets.
The Company will offer a suite of unique products under several existing consumer-focused brands, including tinctures, medicinal oils, concentrates, and when legalized, gel capsules and vaporizer pens. Through acquisition of existing cannabis extraction brands and careful development of its new brands, Adastra will be positioned to be a leader in branded, commercialized products in both the medical and adult-use markets across North America and internationally.
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.