LANGLEY, BC - April 26, 2021 (Investorideas.com Newswire) Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX) (Frankfurt:D2EP) ("Phyto Extractions™" or the "Company") is pleased to announce that it subject to regulatory approval, has retained Independent Trading Group (ITG) to provide market-making services in compliance with the policies and guidelines of the Canadian Securities Exchange (CSE) and other applicable legislation
ITG will trade shares of Phyto Extractions Inc. on the Canadian Securities Exchange (CSE) and other trading venues with the objective of maintaining a reasonable market and improving the liquidity of Phyto Extractions Inc. Under the terms of the agreement, ITG will receive $5,000 per month payable on the first business day of each month. The engagement is effective Apr. 26, 2021, and has an initial term of three months. Thereafter, the engagement will automatically renew for successive one-month terms until terminated by either party upon 30 days prior written notice. There are no performance factors contained in the agreement, and ITG will not receive shares or options as compensation.
About Independent Trading Group (ITG)
ITG is an independent, privately-held broker-dealer based in Toronto, Ont., that provides a wide range of financial and investment services, and is registered with the Canadian Securities Exchange, NEO, Toronto Stock Exchange and TSX-V along with the Investment Industry Regulatory Organization of Canada (IIROC).
About Phyto Extractions™
Phyto Extractions™ is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction and products, no cultivation), Sales (extracts, topicals, and edibles), and R&D through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc.
ON BEHALF OF THE BOARD
PHYTO EXTRACTIONS INC. (CSE:XTRX)
J. Scott Munro, President, CEO & Director (Chairman)
Phone: (778) 715-5011
This news release includes 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. 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 in this news release includes statements with respect of the proposed name change, proposed consolidation, the closing of the private placement and the use of proceeds thereof. 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, including: (i) adverse market conditions; (ii) risks inherent in the cannabis extraction sector in general; (iii) inability to close the private placement for any reason, or in the amounts expected by the Company; and (iv) other factors beyond the control of the Company. There can be no assurance that ITG market-making services will result in increased trading, liquidity or share price. Actual results and future events could differ materially from those anticipated in such information. 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.
The CSE has not reviewed or approved of any contents of this news release.
SOURCE: Phyto Extractions Inc.
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