extractX

Overview

The global cannabis industry is growing — there’s no denying that. Market research estimates the global cannabis extract market to be $16 billion by 2023, representing a compound annual growth rate of nearly 21 percent. With such a booming market, facilitating all the processes to keep up with the competition can be difficult for some producers and retailers. Cannabis extraction processing is complicated and expensive, especially when an EU GMP extraction and distillation laboratory needs to be built within the facility.

extractX is a mobile extraction solutions company that has designed, built and trained the operators of state-of-the-art, industrial-scale mobile extraction laboratories. The company installs efficient, scalable, self-contained labs at client facilities while managing the entire process so the client can focus on other aspects of their cannabis business, rather than investing capital to build their own extraction capabilities within their facility. These self-contained labs fit easily into established operations and are delivered ready to operate within client facilities anywhere across the globe. Standard delivery time is three to six months.

Each lab comes fully equipped with the latest extraction and post-processing technology; operated by trained technicians receiving unparalleled support.

The company operates a turnkey lab service that can deliver up to 105 liters of distillate per day. This turnkey service costs considerably less than if a customer was to build a lab, which can run from C$3 million to C$6 million. Using extractX’s solution also ensures speed-to-market advantage for clients who desire to start processing quickly.

The majority of extractX’s contracts are signed for three years, with the possibility of extension. As the company follows a continuous improvement philosophy with its mobile solutions, working with this business model and high-quality clients breeds an environment for growth and innovation.

“Our goal is to put out one mobile lab a month at some point in time. We have two locations right now, and many more interested parties with four that we’re in late-stage discussions with,” extractX co-CEO Albert Iannantuono said when asked about the company’s future plans.

The extractX team has an unparalleled depth of knowledge of THC compliance issues, financing and biomass processing gleaned from years in the agricultural industry. This well-balanced team primes the company for success and significant growth.

Company Highlights

• extractX is a Canada-based mobile extraction solutions company focused on designing, constructing and operating industrial-scale mobile extraction laboratories around the globe.
• The company operates a turnkey lab service that can be built into customers’ facilities. The service can deliver up to 105 liters of distillate per day.
• extractX extraction and distillation solutions are fully mobile with the potential for expansion within small footprints.
• In 2023, the company looks forward to building its facility capabilities with the construction of up to six new laboratory units by the end of the year.

Key Projects

extractX has two operating labs – one in the USA and one in Thailand – and has several contracts currently under negotiation for its mobile extraction labs. extractX’s goal is to have 33 labs operational globally within the next five years.

extractX Mobile Extraction Solution

The company supplies a 40-foot to 53-foot transportable C1D2 clean-room processing facility with proprietary automation software that can be placed inside a larger structure. Since extractX only operates the extraction services it does not need to deal with facility certification, which is left to partner companies for their own buildings.

The facility’s high-tech processing power allows extractX to process 90 pounds per hour or 1,890 pounds per day of product. The well-engineered mobile solution utilizes critical data collection in the process to ensure streamlined service. This solution runs under strict high-standard security monitoring and safety protocols for the distillation process and HVAC systems.

The company predicts remediation and separation capabilities will be available in the near future. Working with innovators in the cannabis space gives the company exposure to new variations of cannabis products through distillation processes, which the market could see soon.

Management Team

Collin Stone — Co-CEO, COO

Collin Stone is the founder and innovation force behind extractX. Over the last 25 years, Stone has built and operated successful businesses in North America and overseas. With a career focused on developing new and innovative technologies that deliver business efficiencies, he has now turned his attention to revolutionizing the cannabis and hemp industries. Built with Stone’s expertise and leadership, extractX mobile labs are counted among the most advanced, automated, and EU GMP-compliant medical-grade facilities in the world.

Albert Iannantuono — Co-CEO, CMO

Albert Iannantuono drives the vision, corporate goals, and overall business strategy for extractX. A pioneer in integrated marketing technologies, he established his first successful business in 1986 and built a solid track record as an entrepreneur that helped shape the digital industry. A talented leader whose business ranked among Canada’s fastest-growing companies for several years running, Iannantuono has assembled the strong management team that will drive extractX’s business forward. His keen business development approach has resulted in the early adoption of extractX labs in global markets.

George Barkwell — CFO

George Barkwell has been advising the extractX team from the outset and now guides the company as CFO. A CPA with a career spanning 45 years, he has provided financial, accounting and tax advice to various companies across a broad spectrum of industries. Barkwell was a partner with KPMG from 1985 to 1998 and later joined BDO Dunwoody as a partner in charge of Management Consulting and Specialty Services. Since 2002, Barkwell has operated his own successful accounting, tax and consulting practice.

Jonathan Brillinger – Chief Growth Officer

Jonathan Brillinger drives the growth of extractX through sales, marketing and strategic partnerships. His combination of thoughtful analysis, relationship-building and seasoned intuition capitalizes on emerging opportunities and helps others extend their thinking of what is possible. As an experienced executive he has led the growth, innovation and operation of banking, mutual funds, trust and wealth management businesses across 18 countries with annual budgets surpassing $100 million. Brillinger is uniquely positioned to drive our organization through global expansion. He has completed executive courses through Queen’s and Harvard and holds a BBA in Marketing from Brock University and an MBA in Innovation from the University of Fredericton.

Kelly Castledine — Director, Investor Relations

Kelly Castledine leads the development, implementation and oversight of extractX’s comprehensive investor relations strategy and program. Castledine is an accomplished certified investor relations professional with 20 year’s experience in investor relations, capital markets, corporate strategy, and communications. She was the key driver of an investor relations strategy that contributed to the growth of a TSX-listed company from CAD$200 million to a CAD$2.5 billion market capitalization in five years.

*ExtractX received word from the Canadian Securities Exchange (CSE) that a conditional listing has been granted to extractX, which is an important milestone in the process for extractX’s intention to become a publicly traded company. This milestone leads up to the company’s shares being traded on the CSE.