03:25:01 EDT Tue 09 Aug 2022
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Adastra Holdings Ltd
Symbol XTRX
Shares Issued 43,333,995
Recent Sedar Documents

ORIGINAL: Adastra Holdings completes financing for $135,000

2021-10-18 17:37 ET - News Release

Received by email:

File: '\\doc\emailin\20211018 142306 Attachment Adastra - News Release announcing closing of private placement of unit
--->s.DOCX'





 


Adastra Announces Closing of Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
LANGLEY, BC / October 18, 2021 / Adastra Holdings Ltd. (CSE: XTRX) (FRA: D2EP) ("Adastra" or the "Company") is pleased
---> to announce that, further to its News Release of October 15, 2021, it has completed its private placement financing (
--->the "Financing"), pursuant to which it issued 122,727 Units (each, a "Unit") at a price of $1.10 per Unit for gross pr
--->oceeds of $135,000.
Each Unit is comprised of one common share of the Company and one transferrable common share purchase warrant (each, a
---> "Warrant").  Each Warrant will entitle the holder thereof to acquire one common share of the Company (each, a "Warran
--->t Share") at a price of $1.75 per Warrant Share until 5:00 p.m. (Vancouver time) two years from the closing of the Fin
--->ancing.
The Warrants are subject to an acceleration provision whereby, at any time on or after the closing of the Financing, i
--->f the daily closing price of the common shares of the Company as quoted on the Canadian Securities Exchange closes at 
--->or above $2 per share for 50 consecutive trading days , then the Company may accelerate the expiration date of the War
--->rants to the date that is 30 trading days from the date that notice of such acceleration is given via news release. Fr
--->om and after the new accelerated expiration date, no Warrants may be exercised, and all unexercised Warrants will be v
--->oid.
All securities issued in connection with the Financing are subject to a statutory hold period expiring four months and
---> one day after the closing of the Financing.
The Company intends to use the proceeds of the Financing towards general working capital.
None of the securities issued have been registered under the United States Securities Act of 1933, as amended (the "19
--->33 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption 
--->from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a soli
--->citation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation,
---> or sale would be unlawful.
About Adastra Holdings Ltd.
Founded in 2018 and formerly known as Phyto Extractions Inc., Adastra is a leading manufacturer and supplier of innova
--->tive ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking t
--->herapeutic applications. Adastra is renowned throughout Canada for its popular line of Phyto Extractions branded canna
--->bis concentrate products available on shelves at over 1,400 adult-use retailers across the country. The Company also o
--->perates Adastra Labs, a 13,500 sq. ft. agricultural-scale Health Canada licensed facility located in Langley, BC., foc
--->used on extraction, distillation, and manufacturing of cannabis-derived products. Adastra has now successfully taken t
--->he first steps in becoming a licensed cultivator, tester, extractor, and seller of controlled substances, including Ps
--->ilocybin, Psilocin, MDMA, N, N-Dimethyltryptamine (DMT), 5- MeO-DMT, and LSD by applying for a Controlled Substances D
--->ealer's Licence, which is under review by Health Canada. Pending Health Canada approval, Adastra is poised to be a dru
--->g formulation and development leader in this emerging sector. In addition, with the recent acquisition of 1225140 B.C.
---> Ltd., doing business as PerceiveMD, Adastra operates a multidisciplinary centre for medical cannabis and psychedelic 
--->therapies, working alongside doctors and healthcare professionals within the regulated environment to help create effi
--->cacious remedies that address the actual needs of patients.    
ON BEHALF OF THE BOARD
ADASTRA HOLDINGS LTD. (CSE: XTRX)
Donald Dinsmore, Chief Operating Officer
P: (778) 715-5011, E: Donald@adastralabs.com
Cody Simpson, Communications Manager
P: (778) 715-5011, E: cody@adastraholdings.ca
The CSE does not accept responsibility for the adequacy or accuracy of the contents of this news release.




© 2022 Canjex Publishing Ltd. All rights reserved.