Adastra Completes Transaction to Terminate Legacy Supply Agreement, Bringing Phyto Extractions Brand 100% In-House
Adastra Completes Transaction to Terminate Legacy Supply Agreement, Bringing Phyto Extractions Brand 100% In-House
Sales for Phyto branded products totalled $6,690,618 in 2020 and reached $14,268,320 in 2021. To date, Phyto has 114 active SKUs, stocked in eight provinces and territories. Adastra bought back $2,232,137 worth of inventory from the third party and did not incur any debt.LANGLEY, BC / ACCESSWIRE / February 9, 2023 / Adastra Holdings Ltd. (CSE:XTRX)(FRA:D2EP) ("Adastra" or the "Company") a leading cannabis company and producer of two top Canadian concentrate brands, with a focus on processing, adult-use and medical sales, organoleptic and analytical testing, announces the termination of a legacy supply agreement for the Company's Phyto Extractions Brand ("Phyto").
不列顛哥倫比亞省蘭利 /2023 年 2 月 9 日/阿達斯特拉控股有限公司 (企業代號:XTRX) (FRA: D2EP) (」阿達斯特拉「或」公司「）一家領先的大麻公司和兩家加拿大頂級濃縮品牌的生產商，專注於加工，成人用和醫療銷售，感官和分析測試，宣布終止該公司的植物萃取品牌的遺留供應協議（」植物「)。
The household brand for legacy cannabis concentrates (vapes and shatter) was 100% acquired by Adastra in 2021 to drive revenue and leverage Adastra's capabilities for operational efficiency. A legacy license agreement remained in place following the acquisition, whereby Phyto utilized a third party's licensing status with Health Canada to exclusively package and sell its popular Phyto branded cannabis consumer packaged products on its behalf, in consideration for payment of royalties back to Phyto (the "Phyto License Agreement"). On August 30, 2022, Adastra announced it had entered into an agreement with the third party, whereby Adastra had the right and option to terminate the Phyto License Agreement subject to certain conditions which have now been met.
傳統大麻濃縮物（蒸氣和粉碎）的家用品牌在 2021 年被 Aastra 100％ 收購，以提高收入並利用 Adastra 的能力來提高運營效率。收購後，遺留許可協議仍然存在，Phyto's 利用第三方與加拿大衛生部的許可狀態專門包裝和銷售其受歡迎的 Phyin 品牌大麻消費品包裝產品，並考慮將特許權使用費退還給 Phytos（植物許可協議「)。2022 年 8 月 30 日，阿達斯特拉宣布已與第三方達成協議，阿達斯特拉有權和選擇權在符合某些條件的情況下終止植物許可協議。
"Phyto has experienced incredible growth in revenue and profits over the past year and is a revered brand in the industry," said Michael Forbes, CEO of Adastra. "Having full control of the supply chain for Phyto allows us to streamline our business and retain 100% of Phyto's revenues for the benefit of Adastra's shareholders."
Aadastra 執行長 Michael Forbes 表示：「過去一年，Phytoin 在收入和利潤方面取得了令人難以置信的成長，並且是業界備受尊敬的品牌。「完全控制 Phytoa 的供應鏈使我們能夠簡化業務，並保留 Phyto100％ 的收入，從而使 Adastra 的股東受益。」
Sales for Phyto branded products totalled $6,690,618 in 2020 and reached $14,268,320 in 2021. To date, Phyto has 114 active SKUs, stocked in eight provinces and territories. Adastra bought back $2,232,137 worth of inventory from the third party and did not incur any debt.
在二零二零年，植物品牌產品的銷售總額為 6,690,618 美元，並於二零二一年達到 14,268,320 美元。迄今為止，Phytos 擁有 114 個活躍的 SKU，存放在八個省和地區。阿達斯特拉從第三方買回價值 2,232,137 美元的庫存，並沒有產生任何債務。
About Adastra Holdings Ltd.
關於阿達斯特拉控股有限公司
Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use, medical markets and forward-looking therapeutic applications. Adastra is recognized as a high-capacity processor and co-manufacturer throughout Canada. Adastra's Phyto Extractions brand is well-known for its cannabis concentrate products, available on shelves at over 1,400 adult-use retailers across Canada. The Company also operates Adastra Labs Inc., a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, British Columbia, focused on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has successfully taken steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Psilocybin and Psilocin, under its Controlled Substances Dealer's License. Adastra is poised to be a drug formulation and development leader in these emerging sectors. Adastra operates PerceiveMD, a multidisciplinary manufacturer for medical cannabis and psychedelic therapies, working alongside practitioners and healthcare professionals within the regulated environment to help create efficacious remedies that address the actual needs of patients. For more information, visit: .
Adastra 是一家領先的創新民族植物學和大麻科學產品製造商和供應商，專為成人使用，醫療市場和前瞻性治療應用而設計。Adastra 被公認為是整個加拿大的高容量處理器和共同製造商。Adastra 的 PhytoExtract 品牌以其大麻濃縮物產品而聞名，在加拿大的 1,400 多家成人使用零售商上架。該公司還經營 Aadastra Labs Inc.，佔地 13,500 平方英尺的農業規模加拿大衛生部許可的設施，位於不列顛哥倫比亞省蘭利市，專注於提取，蒸餾和製造大麻衍生產品。阿達斯特拉已成功採取措施，成為持牌中耕，測試儀，提取器和受控物質的銷售商，包括裸蓋菇鹼和裸蓋菇素，根據其受控物質經銷商的許可證。Adastra 有望成為這些新興領域的藥物配方和開發領導者。Adastra 經營 PerceiveMD，這是一家用於醫用大麻和迷幻療法的多學科製造商，與受管制環境中的從業人員和醫療保健專業人員一起工作，以幫助創造有效的補救措施，以滿足患者的實際需求。如需詳細資訊，請造訪：。
Contact:
聯繫方式：
Michael Forbes, CEO
P: (778) 715 5011, E: michael@adastraholdings.ca
邁克爾·福布斯, CEO
答：（778）715 5011，電子郵件：michael@adastraholdings.ca
Alyssa Barry, Investor Relations
ir@adastraholdings.ca
艾莉莎·巴里，投資者關係
ir@adastraholdings.ca
SOURCE: Adastra Holdings Ltd.
來源： 阿達斯特拉控股有限公司
譯文內容由第三人軟體翻譯。