Adastra Holdings Announces Resignation of CFO, and Corporate Secretary
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), un principale produttore e processore di cannabis delle migliori marche di concentrati canadesi, ha annunciato le dimissioni di Lachlan McLeod dalle sue funzioni di Direttore Finanziario e Segretario Aziendale, con effetto dal 5 ottobre. Le dimissioni sono immediate e l'azienda è attualmente in fase di selezione e approvazione di nuovi candidati per ricoprire queste posizioni. Adastra sottolinea il proprio impegno a garantire una transizione fluida e a mantenere continuità in questi ruoli importanti.
Adastra Holdings (CSE: XTRX) (FSE: D2E), un líder en el procesamiento y producción de cannabis de las principales marcas canadienses de concentrados, ha anunciado la renuncia de Lachlan McLeod a sus funciones como Director Financiero y Secretario Corporativo, con efecto a partir del 5 de octubre. La renuncia es efectiva de inmediato, y la empresa se encuentra actualmente en el proceso de seleccionar y aprobar nuevos candidatos para estos cargos. Adastra enfatiza su compromiso de garantizar una transición fluida y mantener la continuidad en estos roles importantes.
Adastra Holdings (CSE: XTRX) (FSE: D2E)은 선도적인 대마초 가공 및 생산업체로 캐나다 최고 브랜드의 농축액을 제공하는 회사로, 래클란 맥레오드의 사임을 10월 5일부터 총무이사 및 사내 비서직에서 발표하였습니다. 사임은 즉시 효력이 발생하며, 회사는 현재 이 직책을 채우기 위한 새로운 후보자 선정 및 승인 절차를 진행 중입니다. Adastra는 원활한 전환을 보장하고 이 중요한 역할에서의 연속성을 유지할 것임을 강조합니다.
Adastra Holdings (CSE: XTRX) (FSE: D2E), un leader dans le traitement et la production de cannabis pour les meilleures marques de concentrés canadiens, a annoncé la démission de Lachlan McLeod de ses fonctions de directeur financier et de secrétaire général, effective à partir du 5 octobre. La démission prend effet immédiatement, et l'entreprise est actuellement en train de sélectionner et d'approuver de nouveaux candidats pour ces postes. Adastra souligne son engagement à garantir une transition en douceur et à maintenir la continuité dans ces rôles importants.
Adastra Holdings (CSE: XTRX) (FSE: D2E), ein führender Cannabisverarbeiter und -produzent von Top-Marken für kanadische Konzentrate, hat den Rücktritt von Lachlan McLeod als Finanzvorstand und Unternehmenssekretär zum 5. Oktober bekannt gegeben. Der Rücktritt ist sofort wirksam, und das Unternehmen befindet sich derzeit im Prozess der Auswahl und Genehmigung neuer Kandidaten zur Besetzung dieser Positionen. Adastra betont sein Engagement für einen reibungslosen Übergang und die Aufrechterhaltung der Kontinuität in diesen wichtigen Rollen.
- Company actively seeking replacements to ensure smooth transition
- Sudden departure of CFO and Corporate Secretary
- Potential disruption in financial management and corporate governance
Langley, British Columbia--(Newsfile Corp. - October 8, 2024) - Adastra Holdings Ltd. (CSE: XTRX) (FSE: D2E) ("Adastra" or the "Company"), a leading cannabis processor and producer of two top Canadian concentrates brands, with a focus on product innovation and commercialization for adult-use and medical markets, today announces that Lachlan McLeod, Chief Financial Officer and Corporate Secretary, has resigned from his roles, effective October 5th.
Mr. McLeod's resignation as CFO and Corporate Secretary will be effective immediately. The Company is in the process of selecting and approving new candidates to fill these roles to ensure a smooth transition and maintain continuity.
About Adastra Holdings Ltd.
Adastra has become one of Canada's leaders in the supply and manufacturing of ethnobotanical and cannabis products for lawful adult-use. It serves medical markets and engages in forward-looking therapeutic applications. With cannabis concentrate products sold through retailers at more than 2,000 locations across Canada, Adastra's Phyto Extractions and Endgame Extracts brands are now well established with a growing distribution presence. As a Health Canada licensed facility, it specializes in extraction, distillation and manufacturing of a range of cannabis-derived products. Adastra partners with healthcare professionals and practitioners within the regulated environment to create products suitable for the medical cannabis market, with the ultimate aim of addressing the needs of patients. For more information, visit: www.adastraholdings.ca.
On behalf of the Board of Directors,
Jon Edwards, Director.
(778) 715 5011
For additional information, please contact:
(778) 715 5011
info@adastraholdings.ca
Forward-Looking Information
This news release contains forward‐looking information within the meaning of Canadian securities legislation concerning the business of the Company. To the extent any forward-looking information in this news release constitutes "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided as preliminary financial and operational results with respect to the Company's financial results for January and February 2024 and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such financial outlooks. Forward‐Looking information is based on certain key expectations and assumptions made by the management of the Company. Examples include that the Company will operate in a fiscally disciplined manner; that the Company will build long-term shareholder value and reduce operational expenses; or that the Company will increase its revenue and gross margins. Financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to various risks as set out herein. Our actual financial position and results of operations may differ materially from management's current expectations and, as a result, our gross revenue may differ materially from the information provided in this news release. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward‐looking information because the Company can give no assurance that they will prove to be correct. Forward-Looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and in this news release includes statements regarding, but not limited to the financial results, specifically gross revenues, for the Company for January and February 2024, and expectations for other economic, business, and/or competitive factors. All information contained in this news release that is not clearly historical in nature may constitute forward-looking information. Examples of such statements include statements with respect to the Company's financial results for January and February 2024. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including that the preliminary financial and operational results are subject to the completion of the Company's financial closing procedures and have not been audited or reviewed by the Company's independent auditor. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward‐looking information. Important factors that could cause actual results to differ materially from those expressed in the forward‐looking information include: preliminary financial and operational results are subject to the completion of the Company's financial closing procedures and have not been audited or reviewed by the Company's independent auditor; the availability of a qualified workforce; changes in regulations or licensing affecting the Company's business; reduced demand for cannabis and cannabis related products; reductions in the Company's retail space and store locations; changes in consumer brand preferences; and other factors beyond the control of the Company, including the risk factors set out in the Company's annual report on Form 20-F dated May 16, 2023, filed with Canadian securities regulators and available on the Company's profile on SEDAR+ at www.sedarplus.ca. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward‐looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225955
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