CSE New Listing - Adastra Labs Holdings Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2020) - Adastra Labs Holdings (CSE: XTRX) is one of the latest new listings on the Canadian Securities Exchange, having previously traded as Arrowstar Resources on the TSX Venture Exchange. Adastra, through its wholly owned subsidiaries, Adastra Labs Inc. and Chemia Analytics Inc., is in the application process to become a Standard Processor and has received an Analytical Testing Licence from Health Canada under the Cannabis Act and Cannabis Regulations.
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Chemia Analytics, (www.chemia.ca) with its license to provide third party analytical testing services, is equipped to complete all Health Canada mandated microbial tests on fresh and dried flower, oils, extracts and concentrates. Tests include items such as total yeast and mold, total aerobic microbial counts, bile-tolerant gram-negative bacteria, E. coli, and salmonella. In addition to microbial contamination, the products are tested for potency, aflatoxins, heavy metals, residual solvents, pesticide screening and cannabinoid profiling.
These licences will further enable Adastra and its subsidiaries to produce, package, sell on a wholesale basis, 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 has developed a 13,035 square feet facility, strategically located in Langley, within the Metro Vancouver Regional District, which will be fully devoted to standard processing and laboratory testing, from which it expects to produce significant amounts of cannabis oil and/or hemp oil and related concentrate products for the Canadian wholesale medical and recreational markets. With a 20-year food manufacturing history, and familiarity with Health Canada regulations, the facility was an ideal candidate for conversion to a GMP cannabis extraction and analytical testing operation.
The company intends to offer a suite of unique products under several existing consumer-focused brands, including tinctures, medicinal oils, concentrates, gel capsules and vaporizer pens. Through acquisition of existing cannabis extraction brands and careful development of its new brands, Adastra is working to position itself to become a leader in branded, commercialized products in both the medical and adult-use markets across North America and internationally.
Adastra will also offer formulations, packaging and white labeling services and consultations for brands looking for turnkey solutions.
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Barry Morgan, CFO
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