CannabisNewsBreaks – HTC Extraction Systems (TSX.V: HTC) Provides Recent Activities Update

HTC Extraction Systems (TSX.V: HTC), a hemp-biomass processing entity, today announced that it has closed its bought deal private placement resulting in gross proceeds of $10 million. In addition, the company reported the completion of its 19,000-square-foot facility that will house quality assurance testing and product development laboratories and extraction and formulation processing. The facility is presently undergoing the interior completion to qualify it as GMP Euro compliant and is anticipated to be one of the highest performing and top product quality extraction and refining facilities in Canada. HTC has also completed the construction of its 27,000-square-foot hemp biomass processing and storage facility. The company reported the purchase of extraction and formulation equipment anticipated to begin arriving in December 2019. The equipment is slated to be used for hemp biomass processing, extraction, formulation and refining at its facility located at Port Lajord. Additionally, the company reported that it is in late stage negotiations for the acquisition of a United States based, fully licensed, hemp processing, extraction, formulation and distribution operation. HTC is also in late stage negotiations for Identity Preserved Grown (“IPGrow(TM)”) hemp biomass tolling contracts with producers and providers in the United States for the 2020 hemp production growing…

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