Adastra Holdings Announces Sale of Perceive MD
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) ha annunciato la vendita di Perceive MD attraverso un Accordo di Acquisto di Azioni tra la sua controllata Adastra Labs e Majik Psilocybin Ventures, con effetto dal 5 novembre 2024. La transazione coinvolge la vendita di tutte le azioni emesse e in circolazione (100 azioni comuni di classe A e 100 azioni comuni di classe B) di Perceive MD. Il prezzo di acquisto è stato nominale, con l'acquirente che si fa carico di tutte le obbligazioni di Perceive MD. Questa mossa strategica si allinea con l'attenzione di Adastra sulle sue aree di business principali e sulle opportunità di mercato emergenti.
Adastra Holdings (CSE: XTRX) ha anunciado la venta de Perceive MD a través de un Acuerdo de Compra de Acciones entre su subsidiaria Adastra Labs y Majik Psilocybin Ventures, con efecto a partir del 5 de noviembre de 2024. La transacción implica la venta de todas las acciones emitidas y en circulación (100 acciones ordinarias de clase A y 100 acciones ordinarias de clase B) de Perceive MD. El precio de compra fue nominal, con el comprador asumiendo todas las obligaciones de Perceive MD. Este movimiento estratégico se alinea con el enfoque de Adastra en sus áreas de negocio principales y en las oportunidades de mercado emergentes.
Adastra Holdings (CSE: XTRX)는 자회사인 Adastra Labs와 Majik Psilocybin Ventures 간의 주식 매매 계약을 통해 Perceive MD의 매각을 발표했습니다. 이 계약은 2024년 11월 5일부터 효력을 발휘합니다. 이번 거래는 Perceive MD의 모든 발행 및 유통 주식(클래스 A 100주 및 클래스 B 100주)의 매각을 포함합니다. 구매 가격은 명목상으로 설정되었으며, 구매자는 Perceive MD의 모든 의무를 인수하게 됩니다. 이러한 전략적 결정은 Adastra의 핵심 사업 영역과 신흥 시장 기회에 대한 집중에 맞추어 이루어졌습니다.
Adastra Holdings (CSE: XTRX) a annoncé la vente de Perceive MD par le biais d'un Accord d'Achat d'Actions entre sa filiale Adastra Labs et Majik Psilocybin Ventures, prenant effet le 5 novembre 2024. La transaction concerne la vente de toutes les actions émises et en circulation (100 actions ordinaires de classe A et 100 actions ordinaires de classe B) de Perceive MD. Le prix d'achat était nominal, l'acheteur assumant toutes les obligations de Perceive MD. Ce mouvement stratégique s'aligne avec l'orientation d'Adastra vers ses domaines d'activité principaux et les opportunités de marché émergentes.
Adastra Holdings (CSE: XTRX) hat den Verkauf von Perceive MD durch einen Aktienkaufvertrag zwischen ihrer Tochtergesellschaft Adastra Labs und Majik Psilocybin Ventures bekannt gegeben, der am 5. November 2024 in Kraft tritt. Die Transaktion umfasst den Verkauf aller ausgegebenen und ausstehenden Aktien (100 Stammaktien der Klasse A und 100 Stammaktien der Klasse B) von Perceive MD. Der Kaufpreis war nominal, wobei der Käufer alle Verpflichtungen von Perceive MD übernimmt. Dieser strategische Schritt steht im Einklang mit Adastras Fokus auf seine Kernbereiche und aufkommende Marktchancen.
- Strategic alignment with core business focus through divestment of non-core assets
- Nominal sale price indicates minimal financial benefit from the transaction
Langley, British Columbia--(Newsfile Corp. - November 6, 2024) - Adastra Holdings Ltd. (CSE: XTRX) (FSE: D2EP) ("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, announces the entering into of a Share Purchase Agreement (the "Agreement"), between Adastra Labs Inc. (the "Vendor"), a wholly-owned subsidiary of the Company, and Majik Psilocybin Ventures Inc. (the "Purchaser"), effective November 5, 2024.
Pursuant to the terms of the Agreement, the Vendor sold 100 class A common shares and 100 class B common shares (collectively, the "Shares") in the capital of 1225140 B.C. Ltd. (dba Perceive MD) ("Perceive MD"), being all of the issued and outstanding shares of Perceive MD, to the Purchaser (the "Transaction").
The aggregate purchase price for the Shares was nominal and the Purchaser has also assumed all obligations of Perceive MD following closing of the Transaction.
This transaction aligns with Adastra's broader strategic objectives as the Company continues to focus on its core business areas and emerging market opportunities.
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. 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. 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 Company's strategic objectives; the Company's continued focus on its core business areas and emerging market opportunities; 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. 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. 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: 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/229025
FAQ
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