June 19, 2017
Vancouver, BC – Quadron Cannatech Corp. (CSE:QCC) (the “Company” or “Quadron”) is pleased to announce that it has received a $200,000 CDN order for its custom branded vape pen units and cartridges.
Consumption data from legalized jurisdictions is trending away from dried cannabis to cannabis oil and oil-based products which are ingested in a variety of ways. Delivery of this oil is done using different types of hardware (such as vapor pens) and other means of consumption (such as capsules). This is a very lucrative part of the cannabis industry supply chain that Quadron will continue to apply its diversified knowledge and expertise to generate revenue and scale rapidly.
Rosy Mondin, President and CEO of Quadron commented, “The sale of our custom-branded accessories is business with recurring revenues from sales of the cartridges and is highly complementary to our automated extraction and processing solutions business. We anticipate these two verticals to rapidly grow in tandem and significantly increase our revenue in the second half of 2017 and beyond.”
According to a Mackie Research Capital Corporation report, which assumes full legalization (medical and recreational) in 2018, the growth of cannabis oil consumption in Canada is expected to grow from 284L in 2015 to 562,613L by 2020 (198,000% growth) versus dried marijuana consumption of 6,388 Kg in 2015 to 110,034 Kg in 2020 (1,600% growth).
The move towards extract-based products also supports public health policies that provide for safer and more discreet alternatives to combustion-based methods of cannabis consumption. Quadron, being a leader of innovation, automation and oil extraction of cannabis is well positioned to capture this growing mega trend of oil consumption in the cannabis industry.
About Quadron Cannatech
Quadron focuses on ancillary equipment, products and services for the authorized cannabis industry, providing automated extraction and processing solutions, and sales of end user delivery solutions such as vape pens, capsules and other safer consumption solutions for patients.
For more information, visit: www.quadroncannatech.com
On behalf of the Board of Directors of
QUADRON CANNATECH CORPORATION
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Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.