Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX)(FSE:D2EP) ("Phyto Extractions™", "Phyto" or the "Company") strives to continuously bring consumers new and innovative products to enhance their experience and overall enjoyment. Phyto Extractions™ 'is known for its iconic concentrate products and brand success, built during the legacy market era. Shatter is Phyto's newest product line to launch in the Canadian medical and adult-use markets and hit shelves this summer in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario
Initially available in three high THC potency strains named ‘Blue Gorilla OG', ‘Pink Kush', and ‘D Bubba'- all Phyto Extractions™ - Shatter is extracted, processed, and third party tested in controlled laboratory environments to prevent contaminants, and live up to the brand's promise of additive and synthetic filler free products. Initial quantities purchased by the BC Liquor Distribution Branch and AGLC sold out in British Columbia and Alberta within two days.
In October 2020, the Phyto Extractions™ marketing and sales team initiated a project to build relationships and support licensed cannabis retailers across the country. With many retailers facing detrimental lockdown restrictions on their businesses, the sales team set out on a cross-country RV tour to bring product knowledge to retail managers and budtenders in a safe way; while following all applicable laws and regulations throughout the journey. The sales team visited 158 licensed cannabis retailers from British Columbia to Ontario during the RV tour's inaugural run.
This summer, as Shatter hit shelves across the country, a second RV tour, named "The Shatter Run" was organized, retracing its route to its home base in BC with the re-stated goals of connecting and building relationships with retail managers and staff; providing education and in-store visual merchandising displays; and enhancing brand awareness in order to encourage product sell-through.
The initial goal was to visit 250+ retailers by August,2021; however, by August 14, 2021, the sales team surpassed their goal and visited the 420th store - Bluewater Cannabis in Penticton, BC- an achievement celebrated with a community BBQ event to further strengthen support for private retail.
Donald Dinsmore, COO of Phyto Extractions™ commented, "The response to customer and retailer outreach from each Province and city visited has been incredible, and we are excited to report sales metrics and volume in upcoming announcements once the exact figures have been calculated."
The Company expects the Shatter Run to conclude mid-Augustin Langley, BC, with other sales and marketing initiatives planned for Fall 2021.
"The Shatter Run represents the realization of our national sales strategy to increase brand awareness and market penetration. Driving engagement with Phyto Extractions™ at the point-of-sale in a fun, unique and educational manner has fostered increasing demand with consumers and retailers, while creating sell-through from provincial distributors. The response from Canadians has been overwhelming and sends a clear signal to other cannabis brands that Phyto is here to stay," said Donald Dinsmore, COO, Corporate Secretary and a Director of Phyto Extractions™.
About Phyto Extractions™ and Adastra Labs Inc.
Founded in 2014, Phyto Extractions™ built a successful reputation as a household name in cannabis concentrates among consumers and retailers alike. Adastra Labs Inc. was founded in 2018 and is an agricultural-scale cannabis extraction, distillation, and product manufacturer, located in Langley, BC. Operating out of its 13,000 sq. ft. Health Canada Licensed Standard Processing facility, now named Phyto Extractions Inc., the Company produces and distributes cannabis-derived products, designed for medical cannabis and forward-looking therapeutic use. As a leading supplier, Phyto Extractions™ currently distributes its product-line to 1400+ adult-use retailers and a web-based medical platform, CannMart Inc., across the country seeking to provide consistent, quality concentrate products and alternative treatment options to patients.
To learn more about the Phyto Extractions™ team, please watch the following video:
Michael Forbes, CEO & Director (Chairman)
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 end of the Shatter Run and with respect to the launch of Shatter in the Canadian medical and adult-use markets. 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; and (iii)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.
The Canadian Securities Exchange has not reviewed or approved of any contents of this news release.
SOURCE: Phyto Extractions Inc.
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