Adastra Holdings (CSE:XTRX) Ltd has reported that its wholly-owned subsidiary Adastra Labs Inc. achieved a record month of production volume in February -- more than doubling outputs.
Since February, hydrocarbon extraction and processing run times more than doubled, increasing from an average of 2.5 runs per day to six runs per day, which equates to 48 kilograms of cannabis biomass extracted each day.
A total of 570.9 kilograms of cannabis biomass was extracted in February and 710.4 kilograms extracted in March, accounting for a 24% increase in production, the company said.
READ: Adastra Holdings completes submission of its application for Controlled Drugs and Substances Dealer's License
The company said the significant growth in cannabis biomass extraction was achieved by adding shifts and extending hours during the week. There has been an increase in demand for hydrocarbon-extracted shatter products for Adastra's 100% owned brand, Phyto Extractions, and fulfillments for the company's co-manufacturing brands, along with the preparation for the launch of a highly anticipated brand next month.
The increased demand has led to seven hydrocarbon production runs per day, or approximately 56 kilograms of cannabis extracted daily. This does not account for Adastra's cryo-ethanol production line, and brings Adastra closer to achieving its goal of $5 million per month in sales by the summer of 2022.
In February, the company said the production team filled and packaged 100,511 vaporizer cartridges and finished products. In March, 75,875 cartridges were filled in two weeks, with an anticipated total of 118,346 cartridges to be filled and packaged by the end of this month.
Filling increased from 6,000 cartridges to 10,500 cartridges per day, accounting for a 75% increase in one month.
"I am extremely proud of our team's commitment and performance which has enabled us to achieve another record production month," said Adastra CEO Michael Forbes in a statement. "With more SKUs launching and co-manufacturing brands coming to market this spring and summer, Adastra intends to invest in more processing equipment, along with automation hardware and software to drive costs down and increase production outputs."
Meanwhile, Adastra announced a recent 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.
Dinsmore commented: "After nearly four years of proudly working to build the Adastra team, I am parting ways to pursue other business endeavors. I look forward to what the future has to offer for both myself and the growth of Adastra."
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