Phyto Extractions(TM) Announces Health Canada R&D License Addendum

LANGLEY, BC / ACCESSWIRE / April 22, 2021 / Phyto Extractions Inc. (formerly, Adastra Labs Holdings Ltd.) (CSE:XTRX) (Frankfurt:D2EP) ("Phyto Extractions™" or the "Company) is pleased to announce that it has received its R&D license addendum in Adastra Labs Inc. that will permit some limited human testing by licensed researchers administering or distributing cannabis to human research subjects using cannabis obtained from a holder of a license for processing in the final form of cannabis.

R&D License

This R&D license addendum will permit the Company to conduct in-house human testing for taste of various cannabis products for assessment of taste, sights, smell, or touch of cannabis.

"We look forward to initiating human-studies and generating valuable consumer-based data to support our product development pipeline and continue delivering high-quality efficacious cannabis products to Canadians." Stated Dr. Kyle Boniface, PhD."

About Phyto Extractions™

Phyto Extractions™ is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction and products, no cultivation), Sales (extracts, topicals, and edibles), and R&D through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc.

ON BEHALF OF THE BOARD

PHYTO EXTRACTIONS INC. (CSE:XTRX)

Contact: J. Scott Munro, President, CEO & Director (Chairman)
Phone: (778) 715-5011
Email: [email protected]

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.

SOURCE: Phyto Extractions Inc.