Most recently, the company reduced expenses by C$7,000 a month while increasing sales by 35%. Highlights include 327% revenue growth to over C$1.8 million compared to the same period last year, driven by increased processing of cannabis biomass for third party licensed producers and in-house distillate production, and hydrocarbon extraction.Īdastra’s financial success is also directly linked to the company’s constant efforts to improve profitability. The company has delivered strong financial results for the six months ending June 30, 2021. As a result, Shatter has the potential to be a significant opportunity for Adastra Holdings Ltd to further penetrate the cannabis market. Shatter exists within a niche market alongside relatively few competitors. The product is third-party tested to ensure compliance and quality standards and includes three product SKUs – Pink Kush, Blue Gorilla OG and Death Bubba. The company’s flagship Shatter product line is a high potency and high purity wax and crumble cannabis concentrate. Critical factors for success in this market include the ability to navigate the complex regulatory landscape, access to supply, manufacturing and processing capability, and strong consumer brands.Īdastra operates through three businesses: In addition to medical cannabis use, recreational use is on the rise as markets in countries like Canada have opened through regulation in recent years. The company competes in the highly attractive worldwide cannabis market, The company competes in the highly attractive worldwide cannabis market, estimated to reach a value of US$50,251 million in 2021 and is expected to grow at a CAGR of 26.5 percent from 2021 to 2030. Its popular vapes, concentrates, and oil products are widely available at 1,400 retailers across Canada.
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Formerly known as Phyto Extractions Inc., the company is one of the best-known brands in the Canadian cannabis market. regarding the supply of premium craft cannabis grown by Sitka.Īdastra Holdings Ltd (CSE:XTRX,FRA:D2EP) is a licensed Canadian agricultural-scale cannabis extraction, distillation, product manufacturer, and retailer. Adastra signed a definitive agreement with Sitka Weed Works Inc.experts in plant medicine and plant biochemistry. The company is led by a highly experienced management team, including cannabis industry pioneers and Ph.D.The company aims to further increase revenues by launching over a dozen new product lines and white label products.
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The company operates with an attractive financial model that has the potential to generate strong returns for shareholders.
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Shatter is a high potency and high purity wax and crumble cannabis concentrate.
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