HTC Extraction Systems (TSX.V: HTC) Acquisition Augments Company's Output Capability

(NetworkNewsWire via Comtex)

  • HTC acquires California-based Kase Farma Inc.
  • HTC Extraction Systems announces tolling contracts, project progress and more
  • Hemp-derived CBD market set to grow to $22 billion by 2022

With the acquisition of a company engaged in the extraction, purification and wholesale distribution of hemp-based cannabinoid extracts, HTC Extraction Systems (TSX.V: HTC) has bolstered its output capability and institutional knowledge considerably. The acquired entity - Kase Farma Inc. of Ceres, California - is currently expanding and upgrading its extraction, refining and processing operations. Kase Farma will enter into an intellectual property licensing agreement with Starling Brands Inc., the vendor. Under this licensing agreement HTC's Canadian facility will also be the recipient of this intellectual property (http://cnw.fm/Jn1p3).

The demand for cannabinoids is climbing. But since cannabis remains a Schedule I drug under the Controlled Substances Act of 1970, extraction of cannabinoids from cannabis poses...

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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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