SEATTLE, Jan. 24, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article and executive interview covering Quadron Cannatech Corporation (CSE:QCC) and the company’s progress and ambitions in the legal cannabis extraction business. CEO and President Rosy Mondin sits down with CFN Media in the exclusive video interview.
Cannabis oil consumption in Canada is expected to grow from 284 liters in 2015 to upwards of 562,613 liters by 2020, according to Mackie Research Capital Corp., which is sharply higher than the growth rate for dried cannabis. These trends have many licensed producers in Canada looking for easy ways to enter the growing cannabis oil and extracts market. In the U.S., these same trends are already in place with cannabis oils and extracts legal in many states.
Early Sales Traction
Quadron Cannatech sold its first BOSS CO2 Extraction System on December 20 to Quintet Ventures Inc. following its commercial debut at the MJBiz Conference in Las Vegas. After an extensive research process, the company selected the BOSS CO2 Extraction System for its ease-of-use and cost-savings relative to competing technologies. A second unit was placed a day later to another British Columbia-based cannabis industry participant.
“The results are simply amazing - visitors lined up at our booth to talk with our representatives at the recent MJBiz Conference in Vegas where we showcased the BOSS,” said CEO Rosy Mondin in a press release last year. “There is an immediate need for innovation, automation, analytics, and predictable recoveries in cannabis extraction. The BOSS is a revolutionary system that will no doubt disrupt the industry.”
On December 28, the company announced its third sale to a company in the United States, marking its foray into a new geographical market. The customer was one of many attendees that lined up at its booth at the MJBiz Conference in Las Vegas, which suggests that the company could see even greater interest over the coming weeks. These companies come from both the U.S. and Canadian markets where cannabis has been legalized.
New C$5 Million Financing
Quadron Cannatech recently announced that it closed a C$5 million financing that it plans to use to accelerate the manufacturing of extraction equipment for resale, and for the purchase of ancillary products for resale. In particular, the capital will be used to help deliver its initial three sales orders and build up an inventory that will help reduce the time-to-market for future customers of the BOSS CO2 Extraction System.
“We continue to be encouraged and excited about the investor interest and growing demand for cannabis extracts and extract-based products,” said CEO Rosy Mondin in a recent press release. “This financing allows us to buildout and deliver on the BOSS purchase orders as well as expedite our design and manufacturing of additional equipment to satisfy the demands of our clients who require cannabis extraction and processing laboratories.”
The bought deal financing placed 7,142,858 units through PI Financial Group at a price of $0.70 per unit. Each unit consists of one common share and one common share purchase warrant that’s exercisable into one common share at a price of $0.83 per warrant share. The warrants are subject to expire on January 18, 2020 or earlier if common shares reach $1.50 or higher for ten consecutive days.
Please follow the link to read the full article and see the interview: http://www.cannabisfn.com/cfn-media-exclusive-interview-quadron-cannatech-turning-green-gold/
For more information, visit the company’s website at www.quadroncannatech.com.
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany
Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8
Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com
Disclaimer
CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
CFN Media
Frank Lane
206-369-7050
flane@cannabisfn.com