Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Adastra Holdings completes acquisition of Phyto Extractions

Stockhouse Editorial
3 Comments| September 21, 2021

{{labelSign}}  Favorites
{{errorMessage}}

Adastra Labs Holdings Ltd. (CSE.XTRX, OTC: XTXXF, Forum) – a leader in innovative ethnobotanical and cannabis science products – has announced the completion of its previously-announced acquisition of privately held 1204581 B.C. Ltd., doing business as Phyto Extractions – the owner of the intellectual property rights for the Phyto Extractions brand.

With complete control of the popular Phyto Extractions brand asset, Adastra intends to leverage Phyto Extractions's proven product development expertise, skilled coast-to-coast sales force, and existing relationships with over 1,400 retail stores across Canada to drive accelerated growth and profitability for an expanded portfolio of Phyto Extractions branded cannabis products. The acquisition is expected to be immediately accretive to Adastra.

Michael Forbes, Chief Executive Officer of Adastra, commented:

"As a cannabis retail operator, I recognize the tremendous value Phyto Extractions will bring to Adastra. Phyto Extractions has already gained the trust of over 1,400 retailers and consumers across Canada, representing over 70% of all regulated Cannabis retail stores. I am confident that Adastra will leverage this position in the Canadian cannabis market to accelerate overall growth over the coming quarters as we enter new product categories. Adding flower and other SKUs, we expect to achieve $5 million in monthly sales by July 2022."

Full story here.


New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.

For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.


FULL DISCLOSURE: Adastra Labs Holdings Ltd. is a client of Stockhouse Publishing.


{{labelSign}}  Favorites
{{errorMessage}}

Comments

No comments yet. Be first to comment!

Leave a Comment

You must be logged in to be able to post a comment.

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today