Vancouver, BC, April 1, 2018 (CBE Newswire) Canadian based CANTetra (CCE:CANT) has announced plans to build their multi-million dollar tricyclic processing facility in Bodie, Washington south of their corporate headquarters in Penticton B.C. The move was timed to take advantage of a recently passed law in Washington State (HB2334) that allows the importation of hemp derived CBD (cannabidiol), much of it imported from China despite its Schedule 1 federdal drug status. The company plans to test their patented method of converting CBD to THC (tetrahydrocannabinol) by providing a reaction mixture consisting of a catalyst into an organic solvent, adding CBD to the reaction, then eluting the THC from the organic byproduct. “This advanced process of cannabis alchemy has been in the works for decades” stated Roth Mythril, founder and CEO of CANTetra, one of Canada’s premier producers in the THC-additive market.
The recently merged Advanced Processing Robotics (CCE:APR) and Chinese Importer Pharma Organaleptics (CCE:PHOL), both publicly traded companies on the Canadian Comstock Exchange (CCE), have been in talks with CANTetra for establishing relationships with licensed processing companies in states where cannabis production is legal to convert cheaply produced hemp derived CBD into THC for distribution.
“We’ve been waiting for states to open their doors to this source of cheap cannabinoids to use in our specialized equipment capable of converting 100 Kilos a day for under 1/10thof a cent per milligram.” said Mythril. When asked if he was concerned about flooding fledgling state markets, Mythril said “that’s the point. We have patented technology, processes, and equipment and we plan to leverage our services to help these processors capture as much of the THC-additive market as possible”.
Okanogan Cannabis Association (OCA) President and Founder Jeremy Moberg, disagrees with Mythril’s enthusiasm. “This is disastrous for our state’s cannabis economy and this legislation has opened a Pandora’s box.” Moberg points out that now that CBD can be cheaply imported and converted into THC, that the THC-additive market will largely be supplied by imported cannabinoids leaving state farmers with less outlets for their products. “This couldn’t come at a worse time…farmers are struggling against an oversupply in Washington and this will be the final nail in the coffin for many small farmers in the state. It’s hard to believe that legislators did not see the ability to import CBD and convert it to THC. This needs to be fixed immediately” Moberg said.
CANTetra has an agreement with an un-named Washington processor to install its proprietary process and expects to begin converting imported CBD into THC by late spring.
About CANTetra, Inc.
CANTetra, Inc. (CANT) aims to become the world’s largest manufacturer service provider for high quality, GMP manufactured cannabinoids to capture as much of the THC-additive market. Our mission is to help make our customers successful. Through a network of licensees covering the United States and Canada, CANTetra provides essential goods and services to these processors to meet the demand of the cannabis consuming public.
Public Relations Contact:
CBD Media Afj.
Casey B. Dabney, 413.888.8888
FORWARD LOOKING STATEMENT:
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of CANTetra, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words may, would, will, expect, estimate, can, believe, potential and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond CANTetra, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
April fools :-)!