Xtraction Services Announces Purchase of Shares in the Open Market by Archytas Ventures LLC
Not for Distribution to U.S. Newswire Servicers or For Dissemination in the United States October 24, 2019 08:00 AM Eastern Daylight Time LOS ANGELES–(BUSINESS WIRE)–Xtraction Services Holding Corp., (“Xtraction Services”, “XS” or the “Company“) (CSE:XS), a fast-growing provider of equipment leasing solutions to owner/operators of cannabis and hemp companies in the United States, is pleased to announce that Archytas Ventures LLC (“Archytas”) (an investment company controlled by David Kivitz, CEO of XS and Antony Radbod, CMO of XS) purchased Common Shares (Subordinate Voting Shares being the listed class of shares) of Xtraction Services in the open market. As of Wednesday, October 23, 2019, Archytas purchased a total of 274,500 Subordinate Voting Shares at an average price of CAD$0.2068. Assuming all outstanding Proportionate Voting Shares are converted into Subordinate Voting Shares, Archytas’ total ownership in Xtraction Services would be 11,434,075 Subordinate Shares or approximately 24%. David Kivitz, Chief Executive Officer of XS, commented, “We are committed to building a quality leasing company that provides much needed financial support to the cannabis and hemp industry. We strongly believe in the value of the business and see tremendous growth potential ahead. Our current market capitalization does not appropriately reflect the true value of…
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