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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.
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