Langley, BC / Accesswire / April 28, 2021

Phyto Extractions Inc. Announces Michael Forbes as New CEO

Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE: XTRX) (Frankfurt: D2EP) (“Phyto Extractions™” or the “Company) is proud to announce Michael Forbes as its new CEO who will continue as the main driver from the transition of previous interim CEO, J. Scott Munro.
Mr. Forbes comes to Phyto Extractions with a background firmly rooted in medicine, cannabis production and entrepreneurship. Demonstrating his knowledge and experience in the cannabis industry, Mr. Forbes has founded five cannabis medical clinics under the Concord Medical Clinic umbrella, built Clarity Cannabis and Honeycomb Cannabis to over 10 locations, and also founded the cannabis licensed production facility, Sitka Weed Works, in Canada.
“I am honoured to have been selected to serve as the new CEO and look forward to overseeing the execution of the corporate vision of continued leadership in the recreational cannabis space through the development of brand offerings that position us as the clear choice in the mind of cannabis consumers now and in the future,” said Michael Forbes, chief executive officer. “My experience in health care, medicine, business operations and cannabis will be integral to continuing to strengthen the company’s current position and planned expansion into the burgeoning medical market.”
Having medical experience of over 16 years, Mr. Forbes has also built and operated pharmacy chains across British Columbia and Alberta, and founded a dozen medical clinics, including three methadone clinics in order to protect the public from drug diversion and increase accessibility to medicine.
Mr. Forbes graduated from the University of British Columbia in 2002 with a BSc in pharmaceutical sciences, also achieving additional certification in hormone restoration, age management medicine and more recently, cannabis plant production and facility management from Kwantlen Polytechnic University. He was elected to attend the Ivey School of Business for Canada’s top 40 under 40 in 2017 where he received an honorary MBA.
In other corporate news, Donald Dinsmore, the chief operating officer of the company, was appointed as an additional director to fill the vacancy created by the prior resignation of Blaine Bailey. Following such changes, the board of directors consists of Michael Forbes, Donald Dinsmore, Stephen Brohman and George Routhier.

About Phyto Extractions Inc.

Phyto Extractions is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, B.C., at its co-located Health Canada licensed standard processing (extraction and products, no cultivation), sales (extracts, topicals and edibles), and research and development through Adastra Labs Inc. and analytical testing laboratory through Chemia Analytics Inc.
Contact: Michael Forbes, President, CEO & Director (Chairman)
Phone: 778-715-5011

Forward-Looking Information:

This news release includes forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements with respect of the proposed name change, proposed consolidation, the closing of the private placement and the use of proceeds thereof. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward looking information, including: (i) adverse market conditions; (ii) risks inherent in the cannabis extraction sector in general; (iii) inability to close the private placement for any reason, or in the amounts expected by the Company; and (iv) other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements. The CSE has not reviewed or approved of any contents of this news release.


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