- HTC
Extraction Systems is an experienced and successful gas, liquids and
biomass extractor and refiner using patented technologies for extraction
and distillation processes
- HTC is
building a 19,000-square-foot GMP Euro-compliant extraction, purification
and distillation facility in Saskatchewan, and it is scouting to build
another in the United States for hemp extraction services
- The
company recently announced a common shares bought deal, whereby, subject
to closing, $15 million in aggregate gross proceeds will be added to its
bottom line
Extraction and distillation technology developer HTC Extraction Systems (TSX.V: HTC) is celebrating
news that a group of underwriters has agreed, subject to due diligence
completion, to purchase 15 million units of combined common shares and warrants
to purchase further common shares, which, upon closing will amount to an influx
of C$15 million in aggregate gross proceeds (http://ibn.fm/KhNtT).
HTC is drawing on a wealth of experience in extraction,
purification and distillation and aims to become one of Canada’s largest
cannabidiol (CBD) extractors and refiners as it builds a strategy for
processing hemp biomass under an infrastructure that will include: a
19,000-square-foot GMP Euro-compliant extraction tolling facility on six acres
of land southeast of Regina, Saskatchewan, and a large‐scale extraction
facility at a yet-to-be-determined location in the United States, according to
a company news release published in June (http://ibn.fm/SM4S1).
Over time, the company has developed and optimized
proprietary systems for biomass, gas and liquid extraction, as well as for the
distillation of ethanol and ethanol-based solvents used in the extraction
process, and those resources provide the backbone of the company’s products and
services.
“HTC will continue to drive the business model, where HTC
will own physical assets at our extraction and purification facilities while
serving the clean energy and hemp biomass industries,” HTC Executive Chairman
Lionel Kambeitz stated in the news release. “Our business model calls for both
participating equity ownership and tolling revenue.”
In Canada, HTC has an agreement for the 2019 growing season
through which it will receive a projected five million kilograms of hemp
biomass for extracting CBD full spectrum oil, using Health Canada-approved
cultivars. HTC will receive a percentage of the distillate as payment of the
tolling fee. Another tolling agreement with a 60,000-acre farm is pending for
the 2019, 2020, 2021 and beyond seasons.
The company’s management plans for a facility in the United
States that will adapt the scalable production, extraction, purification and
distillation techniques that it has developed in Canada. Leveraging their
relationships with successful farming leaders, management will draw on standard
operating procedures (SOPs) and best practices in genetics, fertility, crop
protection and ingredient sales with multi‐year contracts. HTC then intends to
pursue plans for two annual crop rotations producing new high-CBD genetic
varieties. The company is also continually evaluating potential synergistic
technologies that could use distillate chromatography, chemical isolation and
molecular distillation for production benefits.
HTC also intends to leverage its relationship with its
related entity, Purely Canada Foods, to provide sales and distribution for its
Ingredient CBD market under the brands of Purely Canada Hemp, Purely Canada
CBD, Purely Canada Cannabinoids and Purely Canada THC. Purely Canada Foods is
expected to develop multi-year ingredient supply contracts with its existing
and new global food, beverage and animal food industry customers.
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://ibn.fm/HTC
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