- HTC
recently closed a bought deal private placement worth $10 million in
funding
- Demand
for hemp biomass continues to grow with the U.S. hemp-derived CBD market
expected to reach $22 billion by 2022
- HTC’s
proprietary biomass processing methodology maximizes extraction and
purification of hemp biomass
After successfully raising $10 million in a private
placement financing of 25 million units of the company, HTC
Extraction Systems (TSX.V: HTC) is poised to expand its role in the
cannabidiol (CBD) extraction market. HTC plans to use the funds for purchase of
extraction, purification and refining equipment, and for general working
capital purposes, the company stated in a news release (http://ibn.fm/kTlu9).
U.S. sales of hemp-based CBD products are expected to soar
from 2018’s $591 million to $22 billion by 2022, growing at a CAGR of 147
percent, according to Brightfield Group (http://ibn.fm/Vk9wK). Brightfield also projects Canada’s
cannabis industry will total $3.7 by the end of 2020, with derivatives such as
CBD-infused edibles, vapes and topicals expected to generate $900 million next
year (http://ibn.fm/4qXGf),
largely due to new regulations allowing sales of the increasingly popular
products.
With its proprietary hemp biomass extraction technology that
reduces operating costs while delivering superior results, HTC Extraction
Systems is uniquely positioned to take advantage of upcoming market
opportunities such as derivative products (http://ibn.fm/YjP7P). CBD extracted from hemp biomass is
infused in a wide array of derivative products such as oils, edibles, beverages,
tinctures and topicals, which typically reap better margins and post higher
price points.
HTC already has a hemp biomass tolling agreement for the
2019 crop year involving a supply of hemp biomass, grown from five varieties of
Health Canada-approved cultivars, from a hemp grower in Saskatchewan, Canada.
HTC will process and extract CBD full spectrum oil (“FSO”) distillate from the
hemp biomass and receive a percentage of the extracted CBD FSO distillate for
its processing, extraction, purification and distillation services (http://ibn.fm/o3G03).
Canada, which legalized limited forms of recreational
cannabis for adult users in October 2018, marked the one-year anniversary on
October 17, 2019, with regulations that allow sales of derivatives including
edibles, vapes and topicals to consumers (http://ibn.fm/7IIWQ).
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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www.QualityStocks.com
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Editor@QualityStocks.com
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