Adastra Holdings (CSE:XTRX) Ltd has announced a private label agreement with Zyre Brands Corp to manufacture custom-formulated cured resin vape products to sell under the Zyre brand in the Canadian adult-use market.
The Langley, British Columbia-based company said its ability to produce and formulate quality, in-demand concentrates and vape products has been demonstrated through its established Phyto Extractions brand.
"We felt Zyre's leadership team and brand strategy was a strong addition to the growing contract manufacturing portion of our business,” Adastra CEO Michael Forbes said in a statement. “Its background and success in growing cannabis companies and startups is admirable, and complementary in our burgeoning industry. This, paired with their focus on targeting the young adult GenZ customer as a vapes-only brand, gives us confidence that they are heavily invested in growing this partnership to the benefit of both parties."
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Adastra noted that the inclusion of Zyre vapes into its production schedule establishes its strong footprint in the growing vape and concentrates segment, expanding its rapidly growing contract manufacturing portfolio and highlighting its capabilities across multiple business verticals.
"Adastra has a demonstrated track record of success,” Zyre Brands CEO Audrey Wong said. “Its strong extraction and processing capabilities made them our top choice private-label manufacturer, suited to launch our vape brand for the up-and-coming adult consumer. We were impressed by the quality of their input material and extraction capabilities, and look forward to working with the team to introduce our consumer-focused brand into the Canadian adult-use vape market."
Founded in 2018 and formerly known as Phyto Extractions Inc, Adastra is a leading manufacturer and supplier of innovative ethnobotanical and cannabis science products designed for the adult-use and medical markets and forward-looking therapeutic applications.
Contact the author at stephen.gunnion@proactiveinvestors.com