Adastra Holdings Ltd - XTXXF STOCK NEWS

Adastra Holdings (CSE: XTRX) (FSE: D2EP), a leading cannabis processor and producer of concentrates brands, announced that Andrew Hale has resigned from his position as director, effective February 14, 2025. The company's board of directors is actively searching for a replacement to fill the upcoming vacancy and will provide updates when available. Adastra, which focuses on product innovation and commercialization for adult-use and medical markets, is known for producing two of Canada's top concentrate brands.

Adastra Holdings (CSE: XTRX) (FSE: D2E0), a cannabis processor and producer of concentrates, has issued a clarification regarding its current management structure following a review by the British Columbia Securities Commission. Lachlan McLeod resigned as Interim CEO on September 26, 2024, and as CFO and Corporate Secretary on October 5, 2024.

McLeod continues to provide financial services through Stornoway Consulting Corp, under an agreement effective until May 31, 2025. The scope includes assistance with financial statements preparation, annual budget planning, and support for external auditors. Currently, management activities are being handled by the board of directors: Jon Edwards, Andrew Hale, and Paul Morgan. The company is actively seeking candidates to fill the CEO, CFO, and Corporate Secretary positions.

Adastra Holdings (CSE: XTRX) (FSE: D2E0) has announced its 2024 Annual General Meeting (AGM) will be held virtually on December 13, 2024, at 1:00 PM Pacific Time. The meeting agenda includes reviewing audited financial statements for 2022-2023, electing directors, reappointing MNP LLP as auditors, and other business matters.

Shareholders can participate through virtual attendance, with registered shareholders and appointed proxyholders needing to pre-register by December 11, 2024, to vote and speak during the meeting. All proxy-related materials are available on SEDAR+ and the company's website. The company encourages shareholders to submit proxy forms or voting instructions in advance through National Securities Administrators

Adastra Holdings (CSE: XTRX) has announced the sale of Perceive MD through a Share Purchase Agreement between its subsidiary Adastra Labs and Majik Psilocybin Ventures, effective November 5, 2024. The transaction involves the sale of all issued and outstanding shares (100 class A and 100 class B common shares) of Perceive MD. The purchase price was nominal, with the purchaser assuming all of Perceive MD's obligations. This strategic move aligns with Adastra's focus on its core business areas and emerging market opportunities.

Adastra Holdings (CSE: XTRX, FSE: D2EP), a prominent cannabis processor and producer, announced a proposed 10:1 share consolidation pending approval from the Canadian Securities Exchange (CSE). This consolidation will reduce the number of issued and outstanding common shares from 55,970,547 to approximately 5,597,055. Proportionate adjustments will be made to outstanding options, and no fractional shares will be issued, as fractions will be rounded to the nearest whole number. Subject to CSE approval, the consolidated shares are expected to begin trading on or around October 15, 2024, under the trading symbol "XTRX". Registered shareholders will receive a letter of transmittal from National Securities Administrators (NSA) with instructions on how to exchange their pre-consolidation shares. Non-registered shareholders should contact their intermediaries for further details. The letter of transmittal will be available on SEDAR+ and the company's website.

Adastra Holdings (CSE: XTRX) (FSE: D2E), a leading cannabis processor and producer of top Canadian concentrates brands, has announced the resignation of Lachlan McLeod from his roles as Chief Financial Officer and Corporate Secretary, effective October 5th. The resignation is effective immediately, and the company is currently in the process of selecting and approving new candidates to fill these positions. Adastra emphasizes its commitment to ensuring a smooth transition and maintaining continuity in these important roles.

Adastra Holdings (CSE: XTRX) (FSE: D2E), a leading cannabis processor and producer, has announced the resignation of Lachlan McLeod from his roles as Interim CEO, CFO, and Corporate Secretary. McLeod's resignation as Interim CEO is effective immediately, while he will continue as CFO and Corporate Secretary until November 25, 2024, to ensure a smooth transition. The company is currently in the process of selecting and approving new candidates to fill these positions.

McLeod expressed confidence in Adastra's strong financial position for continued growth and success, and committed to working closely with the team to ensure a seamless transition. Adastra Holdings is known for its focus on product innovation and commercialization for adult-use and medical cannabis markets, producing two top Canadian concentrates brands.