MedXtractor Corp. Announces Distribution Agreement
Calgary, Alberta--(Newsfile Corp. - March 5, 2020) - MedXtractor Corp. (CSE: MXT) ("MXT" or the "Corporation") announces it has entered into a distribution agreement (the "Agreement") with Purpl Scientific Inc., https://www.purplscientific.com/ a manufacturer of low-cost cannabis testing devices. The Agreement is non-exclusive and may be cancelled by either party at any time. Medxtractor is free to sell the test devices via its website to customers anywhere in the world.
Mr. Jim Durward, CEO, states, "We are always looking for products that target the craft grower horizontal and that compliment our existing offerings. Purpl's test device, with it's low-cost MSRP (US$1495) and high accuracy fits right into our targeted horizontal and we believe it will be a valuable product for our extractor customers."
ABOUT MEDXTRACTOR CORP.:
The Corporation is a Calgary-based company that manufactures award-winning, patented, proprietary craft-scale carbon dioxide-based extractors that are used to extract essential oils and compounds from a variety of botanical materials. Growing demand is from the premium craft medical cannabis market as these growers respond to the shift toward high-purity oils and concentrates as the base for a multitude of products such as vapes, dabs, edibles, lotions, sprays, and suppositories. The ongoing worldwide cannabis legalization movement is expected to further increase demand for extracts and the Corporation has installations in multiple countries worldwide. The Corporation owns the US patent, and the Canadian Patent application, on its CO2-based extraction process.
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This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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