LANGLEY, BC - May 3, 2021 (Investorideas.com Newswire) Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX) (Frankfurt:D2EP) ("Phyto Extractions™" or the "Company") announces that interim CEO J. Scott Munro has transitioned from his roles as Interim CEO and director of the Company to new external ventures. With his experience in C-suite positions in various private and public companies and wealth of management knowledge, Munro served as a seasoned driver whose role as Interim CEO and director steadily steered Phyto Extractions on its continued growth trajectory, overseeing a new project category launch and several corporate operational improvements.
"Scott Munro has made his own patch on the tapestry of Phyto Extractions' history. Phyto Extractions has seen vast improvements across operations and the financial health of the company during his tenure, which isn't an easy task for any senior manager," said Donald Dinsmore, Chief Operating Officer. "We are grateful for Munro's support and the improvements he has made for the company during his period as interim CEO and we wish him all the best in his new endeavors."
The Company has identified a new permanent candidate for the role of CEO and an additional director to fill the vacancy created by Mr. Munro's transition. The Company expects to announce such appointments in the immediate future. The Company anticipates that such appointments will continue the great work completed to date that has positioned the brand of providing quality cannabis products to its valued customers.
Phyto Extractions will continue executing on its operational excellence, securing ever increasing market share and positioning itself as one of the leading cannabis brand name products, with the help of its wholly-owned subsidiaries Adastra Labs Inc. and testing lab Chemia Analytics Inc.
About Phyto Extractions™
Phyto Extractions Inc. is a Langley, BC-based cannabis company with a co-located Health Canada Licensed Standard Processing Facility and Analytical Testing Laboratory. Pioneering in cannabis products like shatter and extracts, Phyto Extractions™ adopts strict in-process quality tests for cannabis extraction methods, like hydrocarbon and cryo-ethanol extractions to ensure high-quality extracts are enjoyed by cannabis enthusiasts. The Company offers a range of products from vape cartridges to pure cannabis extracts that can be incorporated into daily usage.
ON BEHALF OF THE BOARD
PHYTO EXTRACTIONS INC. (CSE:XTRX)
Per: "Stephen Brohman"
Chief Financial Officer and Director
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 to the appointment of future director and officers and the growth of the Company on a going forward basis. 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; and (iii) other factors beyond the control of the Company. 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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