Adastra Labs Ltd. XTXXF XTRX D provided clarification regarding its receipt of Health Canada approval for the amendment to include cocaine under its controlled substances license.
The company received its Controlled Substances License ("dealer's license") on August 24, 2022 and an amendment on February 17, 2023. The company's wholly-owned subsidiary Adastra Labs Inc. is licensed to conduct the following regulated activities: possession, production, assembling, sale/provision and sending, transportation and delivery with coca leaf, cocaine, and psilocybin. Adastra Labs may only produce 1,000 grams of psilocybin and 250 grams of cocaine in 2023.
The dealer's license issued to Adastra Labs does not permit Adastra Labs to sell coca leaf, psilocybin or cocaine to the general public. For cocaine, and under the dealer's license, Adastra Labs is only permitted to sell to other licensed dealers who have cocaine listed on their license including pharmacists, practitioners, hospitals, or the holder of a section 56(1) exemption for research purposes under the Controlled Drugs and Substances Act.
The company is not currently undertaking any activities with cocaine under the dealer's license and before doing so, it will only undertake such activities legally permitted by the dealer's license and after consultation with applicable Provincial Governments.
Benzinga's Cannabis Capital Conference Is Back
The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.
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The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
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