LANGLEY, BC, — Adastra Holdings Ltd. (formerly Phyto Extractions Inc.) (CSE: XTRX) (Frankfurt: D2EP), a leader in innovative ethnobotanical and cannabis science products, is pleased to announce that its retail brand, Phyto Extractions, has received a product listing from the Ontario Cannabis Store for its submitted innovative new product – the Santa Cruz Haze Shatter Vape Cartridge. The product is expected to be available in Ontario at the osc.ca in November 2021.
OCS is the largest provincial distributor of cannabis products in Canada, the only regulated online retailer of adult-use cannabis products in Ontario, and a wholesaler of cannabis products to all licensed retailers in the province. Wholly owned by the Province of Ontario, OCS works with Licensed Producers authorized by Health Canada. All Ontario retailers purchase their product inventory through the OCS.
The Santa Cruz Haze Shatter Vape Cartridge is a new format of a full spectrum product and has been picked up by the OCS. The availability of full-spectrum concentrate cartridges is limited, and this will stand out against the competition. This product will appeal to new consumers looking to embark on their concentrate journey and experienced consumers looking for a portable, full-spectrum hydrocarbon-derived extract option.
“We’re very excited to launch this highly anticipated new product in Ontario through the OCS. The OCS is the largest retailer of cannabis products in Canada and set the stage for rapid expansion. It’s a significant milestone for both the Phyto Extractions brand and Adastra Labs. Further, this product, along with other similar products that will be available soon, will also hedge against regulatory risk as to the terpenes that flavour the product is 100% cannabis-derived, which is a key differentiator.” said Donald Dinsmore, COO, Adastra Holdings Ltd.
This news release includes 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 to be correct. Forward-looking information in this news release includes statements with respect to the Controlled Drugs and Substances Dealer’s License; the changing regulations surrounding certain psychedelics and associated treatments; societal acceptance of psychedelic treatments; the ability of the Company to conduct testing, production, or sales of any compounds beyond cannabis; and the ability of the Company to work with partners such as medical doctors, pharmaceutical companies and pharmacies if it is permitted to conduct extraction research and develop psychedelic compounds. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward looking information, including: (i) adverse market conditions; (ii) risks inherent in the cannabis extraction sector in general; (iii) changes in regulations surrounding multiple controlled substances; and (iv) other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
(This information is primarily sourced from Adastra Holdings. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).