Cannabis adoption is sweeping the nation and you have the opportunity to take advantage.
With Canada leading the charge, and other countries following suit, the cannabis industry is expanding quickly into a highly lucrative market.
From medical applications to recreational use, the possibilities are endless, and savvy investors are taking notice.
But it doesn’t stop there.
As our neighbors down south open their markets to cannabis production and distribution as well, the opportunities grow even more substantial with retail sales forecasted to hit USD 52.6 billion by 2026.
So, with so much buzz investing in the bud, how can you make the most of this game-changing industry?
Well, one innovative Canadian cannabis company is taking over the extracts market and is quickly gobbling up market share in other areas as well.
If you’d like to learn more about how Adastra Labs (Canada: XTRX)(USA: XTXXF) is capitalizing on cannabis, then join us as we explore what makes this company so special.
Adastra’s Carefully Crafted Cannabis Extracts
Adastra Labs is a Canadian cannabis extraction company that specializes in the production of high-quality cannabis oils, distillates, and concentrates.
With their cutting-edge 13,500-square-foot extraction facility in British Columbia, Adastra Labs utilizes advanced technology to create premium cannabis extracts bursting with flavor and potency.
Through careful cultivation, its extraction process is designed to preserve the full spectrum of cannabinoids and terpenes, ensuring that customers get the full benefits of the plant.
This in turn has resulted in Adastra Labs’ 100%-owned Phyto Extractions and Endgame Extracts brands becoming household names in the Canadian cannabis market, selling products to over 1600 retailers across Canada.
For example, five of Endgame Extracts’ SKUs currently rank as the 2nd, 4th, 5th, 7th, and 10th top-selling concentrates in British Columbia.
What’s more, Adastra offers its expertise and infrastructure to other licensed cultivators so that they too can take advantage of this bustling market by producing their own top-of-the-line cannabis products.
Plus, with recent upgrades to its hydrocarbon extraction equipment, the Company now produces up to 146 thousand kgs of product per year, making it one of the largest, full-service cannabis extraction companies in all of Canada.
All-in-all, Adastra is confidently making its mark and is a key competitor in the Canadian market, with the potential to grow significantly stronger in the future.
And just in case you don’t believe us, go check out their record-breaking start to 2023, whereby the Company achieved record shipment volumes of 379,343 grams and 1,300+ orders (up 152%) in January and February alone.
Talk about a hot start!
The Adastra Team
To facilitate its competitive position in the Canadian cannabis market, Adastra has assembled a top-tier management team led by CEO & Director Michael Forbes and Director Smoke Wallin.
With a background firmly rooted in medicine, cannabis production, and entrepreneurship, Michael Forbes is a master of this market, founding not one, not two, but five medical cannabis clinics under the oncord Medical Clinic umbrella.
On top of that, Michael also has experience in the marijuana retail market, where he helped companies Clarity Cannabis and Honeycomb Cannabis reach over ten locations.
Not to mention the founding of a licensed cultivation facility for Sitka Weed Works as well.
Plus, with over 16 years of medical experience, and the founding of a dozen medical clinics under his belt, there may be no CEO better equipped to lead Adastra Labs.
To help Michael achieve his goals as CEO, the highly accomplished entrepreneur, CEO, board member, and philanthropist, Smoke Wallin leads alongside him.
Smoke is a true business titan with an impressive track record that spans the consumer products, beverage, cannabis, hospitality, health & wellness, distribution, M&A, and technology industries.
In all, he has led over $1.7 billion in M&A, deals, and financings, both publicly and privately, while also founding multiple for-profit and non-profit organizations, including DignityMoves.Org, which aims to end unsheltered street homelessness in communities by building Interim Supportive Housing via rapid, cost-effective, scalable solutions.
As a visionary leader with a proven track record, Smoke is the real deal and is driven to help Adastra reach the next level of success.
On the whole, there are few cannabis companies out there with such a knowledgeable and driven management team as Adastra Labs.
What’s Next For Adastra?
With competition ramping up in the Canadian cannabis market, and beyond, Adastra Labs is making moves to keep up with demand and strengthen its competitive position.
For one, the company is constantly seeking out new markets to penetrate, while also opening up more channels for its full spectrum of products.
This includes a recent engagement with Hybrid Brand Management to expand its sales coverage and product sell-through in British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario.
Hybrid serves approximately 2,800 cannabis retailers in Canada, making it an excellent organization to partner with in this competitive market.
When discussing the engagement, CEO Michael Forbes said, “The Hybrid team has deep relationships and understands the market, which we believe will further strengthen our position in key regions by promoting our in-house brands’ products in existing retailers and accelerating adoption of current and new SKUs in other retailers.”
On top of expanding its sales force, Adastra has also improved its production team’s schedule to better meet the high demand for its cannabis products.
Coupled with the addition of a commercialization team in Q1 2022, the Company has built a quality workforce and asset base ready to satisfy its customers’ needs.
To top it all off, Adastra Labs continues to innovate and advance its product line, introducing high-quality products that create a brand-new user experience.
While the Company’s 2022 performance was quite impressive, achieving revenues of $9,142,062 (up 151% YoY), and gross profits of $3,557,237 (up 336% YoY), one can expect that Adastra’s 2023 performance will be even better.
By and large, this year is shaping up to be an exciting one for Adastra as they seek to dominate the Canadian cannabis market further.
Why You Should Consider Adastra Labs
As you can see Adastra Labs (Canada: XTRX)(USA: XTXXF) is a force to be reckoned with.
With a top-tier management team, state-of-the-art equipment, and a commitment to quality, Adastra Labs is poised to take the industry by storm.
The Company’s focus on research and development ensures that they are constantly pushing the boundaries of what is possible in the world of cannabis, making them well-positioned to capitalize on the rapidly growing demand for high-quality cannabis products.
Moreover, Adastra is constantly seeking new market opportunities to reach new customers thus solidifying its household brands across Canada.
As investors, this gives us a lot of confidence because it means that Adastra will have a commanding position in this exploding market.
So, whether you are an industry expert or someone looking to increase your exposure in this bustling industry, Adastra Labs is a business that every serious cannabis investor should keep on their radar.
To learn more about Adastra Labs (Canada: XTRX)(USA: XTXXF), check out its investor presentation below.
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