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Adastra Labs Holdings Ltd.: Adastra Near-Doubles Quarter on Quarter Revenue and Reports Financial Results for the Q3 2020


Adastra Labs Holdings Ltd.: Adastra Near-Doubles Quarter on Quarter Revenue and Reports Financial Results for the Q3 2020
Quarter-over-quarter gross revenue
increased 190% to $825 thousand in Q3 2020
Gross revenue was improved by the continuing relationship with CannMart Inc., combined with our biomass agreement with Pure Sunfarms which allows for a steady supply of quality input material.
Adastra ended the quarter with a total cash balance of $2.3 million
A non-brokered private placement for gross proceeds of $3.49 million was completed in Q3 2020
Cash outflows for capital expenditures in the quarter were $1.2 million, compared to $595 thousand in Q2 2020
Capital expenditures primarily consisted of the acquisition of an EV-Mass Cryo-Ethanol extractor system from Evolved Extraction Solutions ....

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