On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

HTC Extraction Systems (TSX.V: HTC) Reports Increasing Revenues as it Builds CBD FSO Distillate Operation

  • HTC Extraction Systems recently reported unaudited interim condensed consolidated financial results that showed revenue gains of nearly $1.3 million for the first six months of the year
  • The company is building an operation that it expects, upon receipt of all required approvals and licensing, to process five million kilograms of hemp biomass from this year’s crop to extract cannabidiol full-spectrum oil distillate
  • HTC is in the process of seating a six-acre campus with a 19,000-square-foot extraction facility near Regina, Saskatchewan, and it recently reported, subject to closing, an influx of some $15 million in gross proceeds from a common share bought deal

HTC Extraction Systems (TSX.V: HTC) recorded an increase in same-period year-over-year revenues from operations during the first six months of 2019, rising from $560,260 to $1.85 million, according to unaudited interim condensed consolidated financial results announced recently (http://nnw.fm/4XONk).

HTC and its subsidiaries are dedicated to developing their proprietary extraction and purification systems for removing cannabidiol full-spectrum oil (CBD FSO) distillate from acquired hemp biomass and making the remaining hemp byproducts, including other cannabinoids, available for singulation and sale to the cannabinoid pharmaceutical market.

Toward that end, HTC recently completed a tolling agreement through which it expects, subject to receipt of all required approvals and licensing, to process five million kilograms of hemp biomass obtained from this year’s crops in Saskatchewan using five varieties of Health Canada-approved cultivars as the genetic foundation. HTC is completing a new extraction, purification, distillation and refining facility that will house its proprietary extraction and purification system while also pursuing the necessary government licenses for this strategy.

As a tolling fee for the service provided and the system utilized, HTC will receive a percentage of the extracted CBD FSO distillate. The company is also engaged in preliminary due diligence, as it searches for attractive hemp biomass tolling contracts in the United States, for the 2020 hemp crop growing year.

HTC’s CO2 extraction operations, utilizing the company’s proprietary technology, contributed significantly to the six-month revenue increase. The hemp biomass division was still pre-revenue, as of the close of the period on June 30, but HTC has for years worked to perfect the distillation and purification of ethanol and hydrocarbon-based solvents used for extraction.

HTC has focused its Canadian operations at Port Lajord, Saskatchewan, about 17 miles southeast of the capital, Regina. The company is building a 19,000-square-foot facility for extraction tolling on six acres of land there.

The company recently announced that, subject to completion of due diligence, a group of underwriters has agreed to purchase a minimum of 15 million units of combined common shares, including warrants to purchase further common shares, amounting to new cash flow with a total of C$15 million in aggregate gross proceeds as a result (http://nnw.fm/qf1mS).

For more information, visit the company’s website at www.HTCExtraction.com

NOTE TO INVESTORS: The latest news and updates relating to HTC are available in the company’s newsroom at http://nnw.fm/HTC

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Archives

Select A Month

NetworkNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.418.1217