- HTC’s patented Delta Purification™ technology will reuse, recycle, and purify the extraction ethanol used in the cannabinoid extraction process, being designed to reduce waste
- Company is in late-stage negotiations to sign IPGrow™ hemp biomass tolling contracts with producers and hemp biomass providers in the U.S. and Canada for the 2020 hemp growing and production year
- U.S. sales of hemp-based cannabinoid products to reach $22 billion by 2022
HTC Extraction Systems (TSX.V: HTC) (OTCQB: HTPRF), a hemp biomass cultivation, extraction, formulation and refining entity, is positioned for rapid market growth through 2020 due to its one of a kind “local to grower” drying-to-biomass storage capability and transportation of dried biomass to its extraction facilities, as well as its patented Delta Purification™ technology. The innovative technology was designed specifically to reduce any cannabidiol waste during the extraction process by recycling, reusing, and purifying the extraction ethanol and re-extracting all waste the purified ethanol yields.
HTC’s proprietary gas, liquid, and biomass extraction systems have been designed for the extraction of gas, liquids, and biomass, and the distillation and purification of ethanol and ethanol-based solvents used for this extraction. The company has spent years developing its ethanol and solvent-based distillation expertise and is now dedicating itself to cannabinoid extraction and refining using hemp biomass tolling agreements.
The company works to expand operations and cement its leading position in the cannabinoid extraction market via new tolling contracts, marketing and distribution agreements, project construction updates, and extraction equipment purchasing. For the 2020 hemp growing and production year, the company will sign IPGrow™ hemp biomass tolling contracts with producers and with hemp biomass providers in the United States and Canada.
A tolling contract between HTC and a 60,000-acre recognized Canadian IPGrow™ hemp biomass producer for the 2020, 2021 and beyond production crop years will take effect in the immediate future. The contract is anticipated to represent production of up to 25,000 acres from a single producer/biomass processor for the 2020 and 2021 and beyond production crop years.
This follows a hemp biomass tolling agreement signed in 2019 for the supply of hemp biomass, from a minimum of 4,200 to a maximum of 5,000 acres of hemp grown in Saskatchewan, using five varieties of Health Canada-approved cultivars as the genetic foundation.
In a move to further expand its operations, HTC acquired California-based Kase Farma Inc., in November 2019. Kase Farma is a high-quality, premium hemp cannabinoid producer who also provides white-label manufacturing for other cannabinoid suppliers, and is widely recognized for its firm engagement to customers, community, and the environment (http://cnw.fm/HVk2m).
As part of its ‘BOOM’ (Build, Own, Operate and Maintain) extraction tolling strategy, the company completed a 19,000-square-foot facility that will house quality assurance testing, extraction and formulation processing, and product development laboratories. The facility is located in Port Lajord, 17 miles from Regina, Saskatchewan. It is currently undergoing interior completion to achieve GMP Euro compliance and will be designed as one of the best-performing, highest-quality extraction and refining facilities in Canada. HTC also finished building its 27,000-square-foot hemp biomass processing and storage facility, which will house extraction-ready biomass.
Overall, HTC Extraction Systems has a highly optimistic outlook when it comes to its extraction market expansion, where it is already a key player. The company expects a wealth of opportunities for growth in the near future, given the rapid expansion of the cannabinoid market as a whole. U.S. sales of hemp-based CBD products are projected to reach $22 billion by 2022, up from $591 million in 2018 (http://cnw.fm/d0qTB). CBD derivatives such as vapes and edibles are expected to generate $900 million in 2020 (http://cnw.fm/60DBi). Canada legalized limited forms of recreational cannabis for adult users in the fall of 2018. Sales of these increasingly popular products demonstrate sustainable growth, which will reflect on HTC’s bottom line.
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://cnw.fm/HTC
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