Announcement • May 06
Adastra Holdings Ltd. Announces Director Changes, Effective April 30, 2026 Adastra Holdings Ltd. announced that Calum Maschi has been appointed as a director of the Company in place of Jonathan Edwards who has resigned as a director, effective April 30, 2026. Mr. Maschi is a construction professional with over fifteen years of experience across large scale industrial, institutional and infrastructure projects, including management roles on major projects such as LNG Canada. Announcement • Sep 26
Adastra Holdings Ltd., Annual General Meeting, Nov 19, 2025 Adastra Holdings Ltd., Annual General Meeting, Nov 19, 2025. New Risk • Aug 31
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$315k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-CA$315k). Earnings have declined by 13% per year over the past 5 years. Market cap is less than US$10m (CA$1.40m market cap, or US$1.02m). Reported Earnings • Aug 31
Second quarter 2025 earnings released: CA$0.19 loss per share (vs CA$0.014 profit in 2Q 2024) Second quarter 2025 results: CA$0.19 loss per share (down from CA$0.014 profit in 2Q 2024). Revenue: CA$2.91m (down 58% from 2Q 2024). Net loss: CA$1.08m (down CA$1.16m from profit in 2Q 2024). New Risk • Jun 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$93k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$93k free cash flow). Shares are highly illiquid. Earnings have declined by 3.4% per year over the past 5 years. Market cap is less than US$10m (CA$1.34m market cap, or US$978.9k). Reported Earnings • Jun 02
First quarter 2025 earnings released: CA$0.12 loss per share (vs CA$0.23 loss in 1Q 2024) First quarter 2025 results: CA$0.12 loss per share (improved from CA$0.23 loss in 1Q 2024). Revenue: CA$4.47m (down 32% from 1Q 2024). Net loss: CA$684.9k (loss narrowed 48% from 1Q 2024). Announcement • Feb 04
Adastra Holdings Ltd. Announces Resignation of Andrew Hale as A Director, Effective February 14, 2025 Adastra Holdings Ltd. announced that Andrew Hale has tendered his resignation as a director of the Company effective as of February 14, 2025. The Company thanks Mr. Hale for his service as a member of the board of directors. The remaining directors are in the process of identifying a candidate to fill the pending vacancy and will provide an update once available. Reported Earnings • Dec 01
Third quarter 2024 earnings released: EPS: CA$0.002 (vs CA$0.12 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.002 (up from CA$0.12 loss in 3Q 2023). Revenue: CA$7.10m (up 63% from 3Q 2023). Net income: CA$84.5k (up CA$726.7k from 3Q 2023). Profit margin: 1.2% (up from net loss in 3Q 2023). Announcement • Oct 18
Adastra Holdings Ltd., Annual General Meeting, Dec 13, 2024 Adastra Holdings Ltd., Annual General Meeting, Dec 13, 2024. Reported Earnings • Sep 01
Second quarter 2024 earnings released: EPS: CA$0.001 (vs CA$0.019 loss in 2Q 2023) Second quarter 2024 results: EPS: CA$0.001 (up from CA$0.019 loss in 2Q 2023). Revenue: CA$6.87m (down 3.2% from 2Q 2023). Net income: CA$80.9k (up CA$1.15m from 2Q 2023). Profit margin: 1.2% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 56% per year, which means it is performing significantly worse than earnings. Reported Earnings • Jun 04
First quarter 2024 earnings released: CA$0.023 loss per share (vs CA$0.006 loss in 1Q 2023) First quarter 2024 results: CA$0.023 loss per share (further deteriorated from CA$0.006 loss in 1Q 2023). Revenue: CA$6.53m (up 13% from 1Q 2023). Net loss: CA$1.31m (loss widened 325% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Announcement • May 03
Adastra Holdings Files Form 15 Adastra Holdings Ltd. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common shares under the Securities Exchange Act of 1934, as amended. Reported Earnings • Apr 24
Full year 2023 earnings released: CA$0.063 loss per share (vs CA$0.072 loss in FY 2022) Full year 2023 results: CA$0.063 loss per share (improved from CA$0.072 loss in FY 2022). Revenue: CA$22.2m (up 67% from FY 2022). Net loss: CA$3.54m (loss narrowed 17% from FY 2022). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Board Change • Apr 19
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Director Paul Morgan is the most experienced director on the board, commencing their role in 2021. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Apr 03
Adastra Holdings Announces Executive Changes Adastra Holdings Ltd. announced the appointment of Jon Edwards to its Board of Directors, effective April 2, 2024. With over 15 years of experience, Mr. Edwards has held various positions within the B.C. Public Service, specializing in interpreting and applying legislation for the Ministry of Justice and Housing. He holds a Bachelor of Arts in Justice Studies and a Master of Arts in Conflict Analysis and Management, both from Royal Roads University. Mr. Edwards will use his extensive experience and commitment to excellence to positively impact the Company towards continued success. Mr. Edwards will be replacing Michael Forbes on Adastra's Board of Directors. On March 29, 2024, Mr. Forbes resigned as CEO, Director and Corporate Secretary, as previously announced in a news release dated March 1, 2024. Adastra also announces that Lachlan McLeod, the Company's CFO, has been appointed Corporate Secretary, effective April 2, 2024, while maintaining his current duties as CFO. Board Change • Apr 01
High number of new directors Director Andy Hale was the last director to join the board, commencing their role in 2024. Reported Earnings • Dec 01
Third quarter 2023 earnings released: CA$0.011 loss per share (vs CA$0.008 loss in 3Q 2022) Third quarter 2023 results: CA$0.011 loss per share (further deteriorated from CA$0.008 loss in 3Q 2022). Revenue: CA$4.35m (up 14% from 3Q 2022). Net loss: CA$642.2k (loss widened 40% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
Second quarter 2023 earnings released: CA$0.019 loss per share (vs CA$0.008 loss in 2Q 2022) Second quarter 2023 results: CA$0.019 loss per share (further deteriorated from CA$0.008 loss in 2Q 2022). Revenue: CA$7.10m (up 133% from 2Q 2022). Net loss: CA$1.07m (loss widened 124% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 54% per year, which means it is significantly lagging earnings. Announcement • Jul 08
Adastra Holdings Ltd., Annual General Meeting, Sep 14, 2023 Adastra Holdings Ltd., Annual General Meeting, Sep 14, 2023. Location: 900 - 885 West Georgia Street Vancouver British Columbia Canada Reported Earnings • May 03
Full year 2022 earnings released: CA$0.072 loss per share (vs CA$0.055 loss in FY 2021) Full year 2022 results: CA$0.072 loss per share (further deteriorated from CA$0.055 loss in FY 2021). Revenue: CA$13.3m (up 136% from FY 2021). Net loss: CA$4.28m (loss widened 56% from FY 2021). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Feb 15
Adastra Holdings Ltd. Announces Executive Changes Adastra Holdings Ltd. announced that Lachlan McLeod, CPA of Fehr & Associates, has been appointed Chief Financial Officer. Lachlan has experience in public practice, having worked as an auditor for a Big 4 accounting firm for four years, and has served as a fractional CFO for multiple public companies. Lachlan has a proven track record of helping businesses meet financial and regulatory reporting requirements. Lachlan is a Chartered Professional Accountant (CPA) with a Bachelor's degree in Science with an Economics major and a Business minor from the University of Victoria, and a Diploma of Accounting from the Sauder School of Business at the University of British Columbia. Lachlan replaces Oliver Foeste who will remain with Adastra in an advisory capacity to provide transitional support. The Company thanks Oliver for his services. Reported Earnings • Dec 01
Third quarter 2022 earnings released: CA$0.008 loss per share (vs CA$0.005 loss in 3Q 2021) Third quarter 2022 results: CA$0.008 loss per share (further deteriorated from CA$0.005 loss in 3Q 2021). Revenue: CA$3.80m (up 110% from 3Q 2021). Net loss: CA$459.3k (loss widened 121% from 3Q 2021). Board Change • Nov 16
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. President, CEO, Chairman & Company Secretary Michael Forbes is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 01
Adastra Holdings Ltd. Receives Controlled Substances Dealer's License Adastra Holdings Ltd. announce that the Company received its Controlled Drug and Substances Dealer's License on August 24, 2022. This license allows Adastra to process psilocybin and psilocin, the active compounds derived from psychedelic mushrooms. Under the Dealer's License, Adastra can possess up to 1,000 grams of psilocybin and psilocin at any time and can transfer the extracted material to other companies who hold a valid Dealer's License. Adastra intends to utilize its in-house analytical testing lab, Chemia Analytics, to validate and develop its extraction processes, to optimize and enhance efficiency ahead of any future potential regulatory modifications to the existing psychedelics framework. As the market matures to include regulations for other compounds, such as MDMA, LSD, 5-MeO-DMT and Ketamine, Adastra plans to include these substances in future Dealer's License amendments, positioning itself to leverage clinic and patient demand. When approved, the Company will be permitted to process and formulate a variety of psychedelic compounds, increasingly used and sought-after by patients and healthcare practitioners to combat a variety of physical and mental ailments. Reported Earnings • Aug 27
Second quarter 2022 earnings released: CA$0.008 loss per share (vs CA$0.012 loss in 2Q 2021) Second quarter 2022 results: CA$0.008 loss per share (up from CA$0.012 loss in 2Q 2021). Revenue: CA$3.05m (up 146% from 2Q 2021). Net loss: CA$478.1k (loss narrowed 6.2% from 2Q 2021). Announcement • Aug 18
Adastra Holdings Ltd. Receives Its Medical Sales License from Health Canada Adastra Holdings Ltd. announced it has received its Medical Sales License from Health Canada which now authorizes Adastra to sell cannabinoid-containing products that are formulated for and distributed to the medical cannabis market. With its Medical Sales License, Adastra is now authorized to: Sell cannabis extracts and dried cannabis to medical cannabis patients and licensed health practitioners; and Develop a broad range of products classified as cannabis extracts including: Inhaled, Ingested, and Other Adastra's Medical Sales License will enable the Company to maximize the full potential of PerceiveMD, Adastra's wholly-owned platform, that assesses patients seeking alternative treatments and remedies and provides documentation to enable access. The global medical cannabis market is projected to grow to $248.42 Billion by 2030 at a 31.97% CAGR according to a recent report by Market Research. Adastra expects to start producing medical format cannabis products, specifically CBD tinctures by January 2023. The Company is currently exploring medical distribution platforms for Canadian sales and plans toformulate products based on recommendations from practitioners and patients in its establishednetwork. Board Change • Aug 03
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. President, CEO, Chairman & Company Secretary Michael Forbes is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • May 17
Adastra Holdings Ltd. Announces the Appointment of Smoke Wallin to the Company's Board of Directors Adastra Holdings Ltd. announced the appointment of Smoke Wallin to the Company's board of directors. Mr. Wallin is a highly accomplished CEO, entrepreneur, leader, board member and philanthropist with more than 25 years of success across the consumer products, beverage, cannabis, distribution and technology industries. He is a partner and Managing Director for STS Capital Partners; has frequently served as CEO for new and existing businesses. Announcement • May 04
Adastra Holdings Ltd. announced delayed 20-F filing On 05/03/2022, Adastra Holdings Ltd. announced that they will be unable to file their next 20-F by the deadline required by the SEC. Board Change • Apr 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Director Georges Routhier is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 22
Adastra Holdings Ltd., Annual General Meeting, Jun 23, 2022 Adastra Holdings Ltd., Annual General Meeting, Jun 23, 2022. Location: 5451 275 street Langley British Columbia Canada Announcement • Apr 08
Adastra Announces Successful Soft Launch of Endgame Brand in BC Adastra Holdings Ltd. is excited to announce that its newly developed brand, Endgame, which was soft-launched last week, sold out in less than 24 hours of delivery to the British Columbia Liquor Distribution Branch. Endgame's initial SKU delivery included two varieties of vaporizer cartridges: Mosa x Blood Orange and White Rhino x Raspberry Lemon. In early April, Adastra plans to deliver two new Endgame shatter products to the BCLDB: BlackCherry Punch x Jack Herer and Jack Herer x White Rhino. These hydrocarbon extracted cannabis concentrates are gaining popularity in the Canadian cannabis market for their full spectrum extract potency and flavour. Announcement • Mar 30
Adastra Holdings Ltd. Announces Executive Changes Adastra Holdings Ltd. announced update to its leadership structure with the departure of Chief Operating Officer, Corporate Secretary and Director, Donald Dinsmore, and the appointment of Michael Forbes as Corporate Secretary. Board Change • Dec 06
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Georges Routhier is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 04
President recently bought CA$1.1m worth of stock On the 31st of August, Michael Forbes bought around 1m shares on-market at roughly CA$0.91 per share. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Announcement • Jun 03
Phyto Extractions Inc. Officially Launches Shatter for Adult-Use Market Phyto Extractions Inc. strives to continuously bring consumers new and innovative products to enhance their experience and overall enjoyment. Shatter is Phyto ExtractionsTM newest product category, with three new high THC extract offerings produced from single- source strains (local to BC and ON). Available in three highly popular strains including: Blue Gorilla OG, Pink Kush and D Bubba, all Phyto ExtractionsTM shatter is extracted and processed in a controlled laboratory environment to prevent contaminants, living up to the brands promise of offering consumers products that are free of additives and synthetic fillers. In partnership with Namaste Technologies Inc. subsidiary, CannMart Inc., Phyto ExtractionsTM shatter is now available through licensed adult-use retailers in British Columbia, Saskatchewan and Manitoba. Strain availability currently varies in each provincial distributor and private store. Pink Kush and D Bubba have been selected in British Columbia. All three SKUs; Blue Gorilla OG, D Bubba and Pink Kush are available in Saskatchewan and Manitoba. Announcement • Mar 25
Adastra Labs Holdings Ltd. announced a financing transaction Adastra Labs Holdings Ltd. (CNSX:XTRX) announced a private placement on best effort basis of equity units at a price of CAD 1.10 per unit on March 23, 2021. The transaction will include participation from qualified investors, mainly accredited investors. Each unit consists of one common share and one warrant exercisable at CAD 1.75 per share for a period of 24 months from date of issuance. The warrants are subject to acceleration in the event the company’s common shares trade at or above CAD 2 per share for more than 50 trading days. The transaction will close in one or more tranches. Is New 90 Day High Low • Feb 03
New 90-day low: CA$0.33 The company is down 38% from its price of CA$0.53 on 04 November 2020. The Canadian market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 70% over the same period. Is New 90 Day High Low • Nov 17
New 90-day low: CA$0.48 The company is down 44% from its price of CA$0.86 on 19 August 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 18% over the same period. Announcement • Nov 14
Adastra Labs Holdings Ltd. Commences Full-Scale Cryo-Ethanol Extraction Operations Adastra Labs Holdings Ltd. announced the full-scale operation of its cryo-ethanol extraction system from Evolved Extraction Solutions (Evolved). The Evolved team integrated with the Adastra production workforce to commission the EV-MASS system while leveraging remote support from the Yellowstone Falling Film Evaporator operations team. Both the EV-MASS cryo-ethanol system and the Yellowstone high-volume ethanol recovery system met all operational targets for the commissioning. The high quality cannabis oil has produced superior high potency cannabis THC distillate after follow-on processing with the company’s molecular wiped-film distillation systems. The EV-MASS cryo-ethanol system has commenced full operational capability after processing several hundred kilograms of cannabis biomass in a fraction of the time required by other extraction systems. The commissioning validated the ability of the system to process 650 KG of cannabis or hemp biomass per day, has made the company’s CO2 extraction line available for other concentrate products and reduced substantially the time required to produce cannabis oils and THC distillate. The industrial-scale EV-MASS system has become fully operation just in time to exploit the large processing demand the first outdoor Canadian cannabis harvest brings. Is New 90 Day High Low • Oct 19
New 90-day low: CA$0.67 The company is down 14% from its price of CA$0.78 on 21 July 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 7.0% over the same period. Announcement • Oct 04
Adastra Labs Holdings Ltd. Announces the Completion of Installation and Start of Commissioning of its Cryo-Ethanol Extraction System from Evolved Extraction Solutions Adastra Labs Holdings Ltd. announced the completion of installation and start of commissioning of its cryo-ethanol extraction system from Evolved Extraction Solutions ("Evolved"). The Evolved team provided equipment and installation services along with support from the Yellowstone Falling Film Evaporator OEM. The combination of the EV-MASS cryo-ethanol system with the high-volume ethanol recovery unit from Yellowstone substantially reduces the time to produce large volumes of cannabis oil ready for molecular distillation into high potency THC distillate. Commissioning and training services for the EV-MASS cryo-ethanol system has commenced with full operational capability planned in the coming weeks to ensure the EV-MASS system meets performance requirements. The cryo-ethanol extraction system is capable of processing 650 KG of cannabis or hemp biomass per day, producing winterized (de-waxed) cannabis or hemp oil. The EV-MASS integrated solution provides an optimized process flow that is expected to reduce the costs of production. The modular design permits Adastra to easily scale up capacity with simplified installation in the event of increased market demand. Further, the cryo-ethanol system frees up Adastra's CO2 extraction line for other types of concentrate products and will reduce the time required to produce cannabis oil as it comes online. Is New 90 Day High Low • Sep 19
New 90-day high: CA$0.98 The company is up 206% from its price of CA$0.32 on 19 June 2020. The Canadian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is up 3.0% over the same period. Announcement • Jul 17
Adastra Labs Holdings Ltd. announced that it has received CAD 3.4944 million in funding On July 14, 2020, Adastra Labs Holdings Ltd. (CNSX:XTRX) closed the transaction. The company issued 11,648,001 units for gross proceeds of CAD 3,494,400.3. The company paid finders fees of CAD 21,600 in cash and 72,000 compensation options to Ascenta Finance Corp. in relation to the transaction. Each compensation warrant shall entitle the holder to purchase one unit for a period of 24 months from the closing of the transaction on the same terms as that of the warrants issued in the transaction. The transaction has been oversubscribed. Announcement • Jul 05
Adastra Labs Holdings Ltd. to Report Second Half, 2020 Results on Jul 14, 2020 Adastra Labs Holdings Ltd. announced that they will report second half, 2020 results on Jul 14, 2020