Eco-friendly Thumb to Open Increase Mankato, Its 77th Retail Spot in the Country, on April 14

Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) (“Adastra” or the “Corporation”), a Overall health Canada Licensed hashish firm concentrated on processing, revenue, organoleptic testing, and analytical screening, is delighted to announce the submission of its Professional medical Product sales License software to Health and fitness Canada on April 1, 2022 .

A Professional medical Income License would allow Adastra to execute the subsequent things to do:

  • Provide hashish extracts to medical cannabis sufferers and accredited overall health practitioners
  • Acquire goods labeled as cannabis extracts:
    • Inhaled (vaporizer cartridge and shatter),
    • Ingested (tincture, oil, capsule, comfortable gel and oral spray),
    • Other (suppository)
  • Market dried cannabis

On August 31, 2021 , Adastra declared its acquisition of 1225140 B .C. Ltd., accomplishing business enterprise as PerceiveMD , a lean digital affected person treatment platform offering complimentary assessments for option treatment options of healthcare hashish and other breakthrough therapies, these types of as psychedelics.

“I am significantly energized about the future of cannabinoid-based mostly clinical remedies, specifically the pharmaceutical distribution of these treatments,” stated Michael Forbes , Main Executive Officer, Corporate Secretary and Director of Adastra. “Having potent ties to the clinical group, I am self-confident that CBD, CBN and CBG particularly will perform a significant job in the Canadian healthcare sector in the in close proximity to foreseeable future. Adastra’s skill to offer to the expanding and recognized medical current market positions the Business to leverage its existing clinics for direct-to-patient income and pharmacy profits soon. We are also uniquely positioned to faucet into my pharmacy retail community in purchase to supply Adastra’s health care cannabinoid solutions to individuals throughout Canada .”

Engagement with irlabs

Adastra is also pleased to announce that it has entered into an engagement letter dated efficient April 8, 2022 (the “Agreement”) with IR Labs Inc. (“irlabs”), whereby irlabs has agreed to present the Firm with sure investor relations products and services (the “Providers”) in the spots of: (i) capital marketplaces advisory, which include strategic advisory and introductions to buyers and expense bankers and (ii) the improvement and administration of an investor relations and communications method, which includes general public relations/media, social media and stakeholder relations.

Possibly party could terminate the Settlement at any time by furnishing the other occasion with 30 days’ prior composed discover of termination. In thought for the Solutions, the Enterprise has agreed to spend irlabs a month-to-month cost of $10,000 in cash, plus relevant taxes (the “Regular Rate”), thanks and payable on the final working day of each and every thirty day period. The initial payment will be $15,000 in dollars, as well as relevant taxes, due and payable on April 30, 2022 . The Enterprise has also agreed to reimburse irlabs for all acceptable out-of-pocket expenses incurred in link with irlabs doing the Solutions. In addition, irlabs will monthly bill a monthly demand totalling 3% of the Month-to-month Rate to cover membership charges for market place intelligence platforms, media monitoring, certain info retrieval services, and other standard system goods that will not be billed to the Enterprise on an itemized foundation. irlabs has agreed not to incur any mixture disbursements larger than $500 a thirty day period devoid of the Company’s approval. irlabs’ speak to individual, address, email and telephone quantity are as follows: Alyssa Barry (Principal and Co-Founder), 400 – 22 E 5th Ave, Vancouver, BC V5T 1G8, [email protected] , 604-997-0965.

irlabs is a dynamic investor relations agency that applies innovative strategies to create visibility, generate investor engagement and make an impact. Headquartered in Vancouver, BC with staff customers positioned across North The usa , irlabs is business and sector agnostic and supports both of those private and general public companies with their trader relations applications, corporate communications and company governance. For far more info stop by www.irlabs.ca .

Started in 2018 and previously recognized as Phyto Extractions Inc., Adastra is a major producer and supplier of revolutionary ethnobotanical and hashish science items built for the adult-use and healthcare markets and forward-on the lookout therapeutic apps. Adastra is acknowledged as a higher-capacity processor and co-company during Canada . Adastra is identified for its well-known line of Phyto Extractions branded hashish focus merchandise obtainable on cabinets at above 1,400 grownup-use vendors across the place. The Enterprise also operates Adastra Labs, a 13,500 sq. ft. agricultural-scale Wellness Canada accredited facility positioned in Langley, BC , concentrated on extraction, distillation, and production of cannabis-derived products. Adastra has properly taken actions in getting to be a accredited cultivator, tester, extractor, and seller of managed substances, such as Psilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by implementing for a Controlled Substances Dealer’s Licence, which is less than evaluate by Well being Canada. Pending Wellness Canada approval, Adastra is poised to be a drug formulation and enhancement leader in this rising sector. In addition, with the the latest acquisition of 1225140 B .C. Ltd., carrying out small business as PerceiveMD, Adastra operates a multidisciplinary centre for medical hashish and psychedelic therapies, doing the job alongside medical doctors and healthcare industry experts inside of the controlled surroundings to aid develop efficacious solutions that address the true desires of people. For much more details, pay a visit to: www.adastraholdings.ca .

About PerceiveMD

PerceiveMD has created the 1st of its kind, investigate-based mostly, multidisciplinary centre for health care hashish and other ahead-considering therapies this kind of as psychedelics. It gives a holistic, team-centered tactic that focuses on the affected individual. Its crew of nurses, pharmacists, medical professionals, practitioners, specialists, and educators will all do the job with each other to ensure that you are effectively assessed, knowledgeable, and approved where suitable. For far more data, check out: www.perceivemd.ca .

Forward-Searching Info

This news release includes ahead-searching facts within just the this means of Canadian securities laws, about the business of the Enterprise. Ahead-hunting information is centered on sure important anticipations and assumptions produced by the administration of the Firm. Whilst the Enterprise thinks that the expectations and assumptions on which these forward-on the lookout details is based mostly are realistic, undue reliance must not be positioned on the forward-on the lookout data since the Business can give no assurance that they will prove to be proper. Ahead-seeking information in this news launch includes statements with respect to: (i) the anticipated grant of the Healthcare Sales License by Wellness Canada (ii) the routines that the Firm could perform with a Health-related Product sales License (iii) the effect of CBD, CBN and CBG on the Canadian health care current market in the in the vicinity of long term (iv) the potential of the Corporation to leverage its present clinics for direct-to-individual and pharmacy revenue through its means to offer to the rising and recognized clinical industry (v) the Firm’s capacity to advantage from a pharmacy retail network to provide Adastra’s health-related cannabinoid merchandise to sufferers Canada -large and (vi) the Settlement with irlabs which includes the Expert services irlabs has agreed to offer to the Enterprise. There are quite a few threats and uncertainties that could lead to actual effects and the Company’s options and goals to vary materially from those expressed in the forward-on the lookout facts, which includes: (i) adverse market conditions (ii) pitfalls inherent in the hashish extraction sector in normal (iii) variations in restrictions bordering cannabis as a managed material and (iv) other components over and above the command of the Enterprise. Real success and long run activities could differ materially from those people predicted in this sort of information and facts. These and all subsequent written and oral forward-seeking information and facts are dependent on estimates and viewpoints of administration on the dates they are produced and are expressly qualified in their entirety by this notice. Except as essential by regulation, the Corporation does not intend to update these forward-wanting statements.

Resource Adastra Holdings Ltd.

Cision Check out unique content to down load multimedia: http://www.newswire.ca/en/releases/archive/April2022/11/c7439.html