Adastra Holdings Manufacturing And Facility Expansion Updates
Adastra Holdings recently announced the expansion of its co-manufacturing portfolio. The company’s public relations team also provided an update pertaining to its facility expansion. These updates are meaningful in the context of cannabis investing as Adastra holdings is a publicly traded company on the CNSX with the symbol of XTRX. The company is also traded as an over-the-counter stock with the symbol of XTXXF.
Adastra’s Progression Continues
Adastra is clearly making meaningful strides toward exceeding its aim of generating $5 million in sales each month by the summer of 2022. Adastra got off to a good start in the new year with the inking of co-manufacturing contracts that set the stage for the company to develop pure hydrocarbon-extracted concentrate products that have an especially high potency. The company will continue to expand its brand partner portfolio, extending its SKU dossier all the more through the Canadian market and possibly even beyond our neighbours to the north in the years ahead.
Facility Expansion
Adastra is quickly scaling upward, especially in the context of its production facilities. The company’s expansion of its production facilities will make it that much easier to meet the ever-growing desire for its unique hydrocarbon-based cannabis extracts and dried flowers. The company recently announced it acquired a sales license for dry flowers. Adastra has agreed to buy essential equipment that will increase its hydrocarbon extraction capability by 400% or even more.
Enhancements to the company’s post-processing capabilities and the expansion of its production operations to extend to several shifts across the entirety of the week sets the stage for a significant hike in hydrocarbon capacity and products. The hope is that Adastra will soon provide a wide array of full-spectrum cartridges, diamonds and other coveted extracts. The expansion of its products diversifies its revenue streams. In particular, Adastra executives have high hopes for the company’s Phyto Extractions. Such products will soon be available for everyday people as well as B2B customers.
Adastra’s Pre-Rolls
Visit a cannabis dispensary and you are sure to find pre-rolls are one of the most popular items for good reason. Pre-rolls are rolled joints that require no labor on behalf of the customer. Adastra is capitalizing on the growing demand for pre-rolls with the commissioning of a high-capacity pre-rolling machine that is fully automated. The commissioning of this equipment will ultimately empower the company to generate upward of 10 million quarterly pre-rolls that are either infused or filled with dried.
The pre-roll products will be sold under Adastra’s Phyto Extractions brand. The company will also provide contract manufacturing services to additional related brands throughout Canada.
Insider Purchases
Stock market analysts carefully track executives’ purchases and sales of company stock as these high-level power brokers make decisions based on in-depth analysis as well as other information that the general investing public is not privy to. Adastra’s Chief Executive Officer and Chief Operating Officer recently scooped up additional shares of the company’s stock on the open market. To say the insider purchases are a bullish indicator for the stock would be an understatement.
