VANCOUVER, British Columbia, Dec. 28, 2017 (GLOBE NEWSWIRE) -- Quadron Cannatech Corporation (the “Company” or “Quadron”) – (CSE:QCC), is pleased to announce that is has completed a sale of its BOSS CO2 Extraction System (“BOSS”) to a United States based client. This is the Company’s 3rd completed sale in the last two weeks, correlating with the rapidly growing need for next generation extraction equipment which can be delivered in a timely manner into the United States.
This purchase order represents Quadron’s first sale of the BOSS CO2 Extraction System into the United States, opening up a new geographical vertical in a target market approximately ten times the size of the Canadian market.
“We’re very excited to complete our first sale into the US shortly after the inaugural showcasing of the BOSS at the MJBiz Conference in Last Vegas last month,” states Rosy Mondin, CEO & President of Quadron. “This client was one of many conference attendees that lined up at our booth to talk with our representatives. There is an immediate need for innovation, automation, analytics, and predictable recoveries on the extraction side of the business. The BOSS is a revolutionary system that will no doubt disrupt the extraction industry and build a new, worldwide benchmark for extraction technology, and industry standards moving forward.”
Quadron is ramping up production of its BOSS CO2 Extraction Systems in anticipation of completing additional orders as interested buyers conclude their investigation and analysis of available CO2 extraction systems on the market. Sales of the BOSS is expected to be a significant revenue growth driver for Quadron in 2018 and beyond.
The BOSS CO2 Extraction System combines proprietary max flow technology with advanced thermodynamics, automated features and an exclusive plug and play design. The BOSS has a very small footprint, requiring only a fraction of the space and energy requirements compared to other systems on the market. Installation is simple – no external hardware of facility renovations required. All that is needed are two electrical outlets and an hour to set-up.
THE BOSS EXTRACTION SYSTEM ADVANTAGES
- Automated system with remote monitoring and control features
- Software collects, stores, and analyzes data for Research & Development
- Programmable cycles - maximizing extraction and separation efficiency
- Plug and Play self-contained system with no external setup required
- Simplified assembly with only two pieces of equipment to set-up, two plugs and four hoses to connect
- Integrated heat exchanger with proprietary advanced thermodynamics
- High precision operating parameters for accurate performance
- Ability to collect extract during runtime
Click here to view more information on the BOSS CO2 Extraction System.
According to Marijuana Business Daily’s annual report, legal U.S. cannabis sales rose 30% in 2017 to between $5.1 billion and $6.1 billion. With California legalizing the sale and distribution of cannabis starting January 1, 2018 and more US states nearing legalization, investment firm Cowen & Co. predict that legal U.S. cannabis sales could reach $50 billion by 2026, making it one of the fastest growing industries in the world. Early data from legalized states Washington, Colorado and Oregon show cannabis concentrates/oils/extracts accounting for ~42% of total sales in 2016.
About Quadron: 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
President and CEO
Investor Relations Contact:
KIN Communications Inc.
Caleb Jeffries, VP, Investor Relations
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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.