Adastra Holdings has announced that that Adastra Labs has entered into an asset purchase agreement dated February 27, 2026 with an arm's length purchaser pursuant to which Adastra Labs has agreed to sell certain cryoethanol and hydrocarbon extraction and processing equipment as well as packaging and labelling machinery to the Purchaser in consideration for $166,225.
In connection with the Sale, the Purchaser and Adastra Labs have agreed to enter into a lease agreement pursuant to which the Purchaser agreed to lease the Assets back to Adastra Labs in consideration for an annual fee of $25,000 plus GST.
The Transactions align with the Company's strategy to strengthen its balance sheet and reduce debt, while avoiding any material impact or disruption to its operations. The Transactions are expected to be completed shortly and remain subject to customary closing conditions.
The Company also announces that Mark Qvist has tendered his resigned as a director of the Company, effective February 28, 2026. The Company thanks Mr. Qvist for his contributions and wishes him the best in his future endeavors.
For more information:
Adastra Holdings
Email: [email protected]
https://adastraholdings.ca/
