Calgary, Alberta - TheNewswire - July 28, 2020 - MedXtractor Corp. (CSE:MXT) (CNSX:MXT.CN) ("MXT" or the "Corporation") announces the release of it's new "Essential" alcohol-based essential oil extractor. The extractor was designed internally and MXT owns it 100%.
Mr. Jim Durward, CEO, states "Within the craft-scale horizontal our CO2-based extractors experience competition from alcohol-based (mainly ethanol) extractors. In our opinion, while CO2-based extracts constitute the highest purity and highest quality products, alcohol-based extracts can be used for other product sectors, primarily edibles, topicals and tinctures. Alcohol-based extractors are significantly less complex and less expensive to manufacture and can offer the craft grower a lower cost entry into the extract/concentrates market. Our strategy is to establish market share in the alcohol-based sector by offering a leading-edge product with higher functionality, and at a cheaper price than the competition. An additional competitive advantage is that we can offer a trade-in-based, upgrade path from our new alcohol-based extractors to our premium Craft-scale CO2-based extractors, something our competitors cannot offer. We will also accept our competitor's products for trade-in. We believe that the introduction of this new product opens a new market segment to MXT; one that has the potential to not only increase sales overall, but to also drive our CO2 extractor sales to new heights worldwide. We are now finalizing the shipping packaging and online sales are expected to begin within two weeks. A "sneak peek" of the new extractor can be seen at https://medxtractor.com/essential (cut and paste if the link is non-responsive from the news release)
ABOUT MEDXTRACTOR CORP:
The Corporation is a Calgary-based company that manufactures craft-scale extractors that can be used to extract essential oils and compounds from a variety of botanical materials. Growing demand is from the premium craft medical cannabis market as these growers respond to the shift toward high-purity oils and concentrates. The Corporation may also develop related products as demand becomes apparent. The ongoing worldwide cannabis legalization movement is expected to further increase demand for extracts and the Corporation has installations in multiple countries worldwide. The Corporation owns the US patent, and the Canadian Patent application, on its CO2-based extraction process.
FOR FURTHER INFORMATION, PLEASE CONTACT:
James M. Durward, President and CEO
Telephone: (403) 689-3901
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Corporation believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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