Adastra Holdings

What Adastra Holdings does

Adastra Holdings Ltd. (CSE: XTRX, FRA: D2EP) is a Canadian cannabis extraction and processing company headquartered in a 13,500 sq ft Health Canada licensed facility in Langley, British Columbia. Founded in 2018, the company operates cryoethanol and hydrocarbon extraction lines, a pre-roll automation line, and an in-house analytical testing lab (Chemia Analytics) co-located with production. Its commercial portfolio centres on two concentrate brands — Phyto Extractions and Endgame Extracts (the latter winner of "Brand of the Year" at the 2023 Growup Awards) — covering shatter, THCa diamonds, sugar wax, full-spectrum extract cartridges, and infused pre-rolls. The company has historically sold through Canadian provincial Crown distributors (AGLC, OCS and others), independent cannabis retailers in over 2,000 locations nationwide, and via the (now divested) PerceiveMD medical and psychedelic therapies platform.

The company's revenue model combines branded product wholesale, contract co-manufacturing and private-label services for other Canadian cannabis brands (including Zyre Brands), medical-format cannabis sales (tinctures, oils, capsules, soft gels, oral sprays, suppositories) authorised under its Health Canada Medical Sales Licence, and controlled-substances handling under its Dealer's Licence covering psilocybin, psilocyn, MDMA, DMT, 5-MeO-DMT, LSD, and cocaine. Go-to-market is sales-led via a B2B channel through provincial distributors supplemented by the Hybrid Brand Management agency covering approximately 2,800 retailers across BC, AB, SK, MB, and ON.

The business is in active contraction. Following the resignation of CEO Michael Forbes in March 2024 and the appointment of CFO Lachlan McLeod as Interim CEO, the company divested PerceiveMD (November 2024), implemented a 10:1 share consolidation (October 2024), sold all remaining operating subsidiaries — Adastra Labs Holdings, 1178562 B.C. Ltd., and Adastra Brands — for CAD $4 million (October 2025), and sold its cryoethanol and hydrocarbon extraction equipment for CAD $166,225 with a lease-back arrangement (February 2026). The company also faces a class action lawsuit filed in the Supreme Court of British Columbia in March 2023 alleging misleading disclosure regarding its cocaine licence amendment, which it is contesting.

Name

Adastra Holdings

Legal name

Adastra Holdings Ltd.

Website

https://adastraholdings.ca

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Adastra Holdings (CSE: XTRX) is a Canadian licensed cannabis extractor and processor operating a 13,500 sq ft facility in Langley, BC, selling concentrate brands Phyto Extractions and Endgame Extracts to provincial distributors and 2,000+ retailers across Canada.

Ownership category

akta.pro rank

Product category

Cannabis Extraction and Concentrate Manufacturing

NAICS

Medicinal and Botanical Manufacturing (325411)

SIC

Medicinal Chemicals & Botanical Products (2833), Pharmaceutical Preparations (2834)

akta.pro primary industry

Adult-Use (Recreational) Cannabis Dispensaries (CRANAFAA)

akta.pro secondary industry

Cannabis Dispensary + Pharmacy/Clinical Model (Patient Services) (CRANAFAI)

Keywords

• Cannabis extraction manufacturing
• Cannabis concentrate products
• Cannabis co-manufacturing services
• Controlled substances licensing
• Medical cannabis production

Headquarters

HQ city

Langley

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Cannabis Concentrate Product Sales: Sale of cannabis concentrate products (shatter, THCa diamonds, sugar wax, vape cartridges, pre-rolls) under Phyto Extractions and Endgame Extracts brands to provincial distributors and retailers across Canada. Products sold at over 2,000 retail locations.
2. Co-Manufacturing / Private Label Manufacturing: Contract manufacturing services for other Canadian cannabis brands, processing their biomass into finished concentrate products. Includes partnerships with Zyre Brands and other well-known Canadian brands.
3. Medical Cannabis Sales: Sale of cannabinoid-containing products formulated for and distributed to the medical cannabis market through PerceiveMD clinics and licensed health practitioners, including tinctures, oils, capsules, soft gels, oral sprays, and suppositories.
4. Controlled Substances Manufacturing: Manufacturing and potential sale of controlled substances (psilocybin, cocaine) under Controlled Substances Dealer's Licence to licensed dealers, pharmacists, practitioners, hospitals, or research institutions.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Adastra Holdings operates a Health Canada licensed cannabis extraction, distillation, and manufacturing facility in Langley, BC, producing cannabis concentrate products (shatter, THCa diamonds, sugar wax, vaporizer cartridges, infused pre-rolls) sold under its own brands Phyto Extractions and Endgame Extracts to provincial distributors and retailers across Canada. The company also provides contract co-manufacturing and private-label services to other cannabis brands and operates Chemia Analytics, a co-located in-house analytical testing lab for quality assurance and regulatory compliance.

Product overview

Adastra Holdings operates as a diversified cannabis processing and manufacturing company with a multi-brand, multi-service portfolio. The core operations center on Adastra Labs, a 13,500 sq. ft. Health Canada licensed extraction and manufacturing facility in Langley, BC, which houses Chemia Analytics for in-house testing. The company distributes two main consumer brands: Phyto Extractions (cannabis concentrates including shatter, THCa diamonds, sugar wax, and vape cartridges) and Endgame Extracts (premium in-house concentrate brand). Through the PerceiveMD platform, Adastra provides medical cannabis and psychedelic therapy services working with healthcare practitioners. The company also offers co-manufacturing services to other brands. Products are sold through 2,000+ retail locations across Canada, serving both adult-use and medical markets.

Differentiator

Problem solved

Functional benefit

Brands

• Phyto Extractions: Cannabis concentrate products brand, one of the top Canadian concentrates brands, sold through retailers across Canada
• Endgame Extracts
• Chemia Analytics

Products and services

• Phyto Extractions A leading cannabis concentrate brand owned by Adastra, offering shatter, THCa diamonds, sugar wax, full spectrum extract cartridges, and one infused pre-roll SKU. Products are sold through 1,400-2,000+ adult-use retailers across Canada via provincial distributors.
• Endgame Extracts Adastra's in-house premium cannabis concentrate brand launched in Q1 2022, featuring shatter and other concentrates. Won Brand of the Year at the 2023 Growup Awards and ranked #2, #3, #4, #5, #7, and #8 of top-selling concentrates in British Columbia.
• Medical Cannabis Products Cannabis extract products formulated for the medical market, including inhaled formats (vaporizer cartridge, shatter), ingested formats (tincture, oil, capsule, soft gel, oral spray), and other formats (suppository). Distributed to medical patients and licensed health practitioners under Health Canada Medical Sales License.
• Co-Manufacturing / Private Label Services B2B contract manufacturing and private-label production services for other Canadian cannabis brands, including processing of their biomass into finished concentrate products such as THCa diamonds and high-terpene full spectrum extracts. Customers include Zyre Brands and Sitka Weed Works.
• Chemia Analytics (Analytical Cannabis Testing Services) An in-house licensed analytical cannabis testing and consulting lab co-located with Adastra Labs in Langley, BC. Provides quality and compliance testing for cannabis products, serving internal production and external clients.

Quantifiable outcome

• Record purchase orders of approximately CAD $8.3M in January and February 2024 alone
• +3 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Hybrid Brand ManagementcoreChannel Partner/ Reseller/ Distributor · 16 March 2023Adastra engaged Hybrid Brand Management to expand its sales coverage and product sell-through in British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. Hybrid covers approximately 2,800 cannabis retailers in Canada, conducting regular in-store activations and staff product education sessions. This partnership has been instrumental in Adastra's expansion of its Endgame Extracts brand across major Canadian markets.
• HeadsetminorOthers · 1 January 2023Headset data cited as the source for market intelligence on top-selling cannabis concentrates and vapor pen brands in Alberta and British Columbia, used to benchmark Adastra's competitive position.
• Zyre BrandsminorStrategic or Co-development Partner · 15 March 2022Adastra entered into a private label manufacturing agreement with Zyre Brands to bring Zyre Brands products to market. Adastra provides manufacturing capabilities and Health Canada licensing for Zyre's cannabis products.
• Sitka Weed WorksminorChannel Partner/ Reseller/ Distributor · 1 January 2022Adastra entered into a supply and purchase agreement with Sitka Weed Works for the supply of cannabis products.
• Chemia AnalyticscoreTechnology or Integration · 1 January 2018Chemia Analytics is an in-house licensed analytical cannabis testing and consulting lab that shares a strategically-built facility with Adastra Labs. Together they ensure products meet quality expectations and exceed all compliance and quality standards. This co-location provides integrated quality control and compliance assurance.

Scale indicators10 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• OrganiGram Holdings: Canadian licensed producer with a national portfolio across flower, vapes and concentrates including Edison and SHRED. Overlaps with Adastra in concentrate SKU distribution through provincial boards and competes for the same retail shelf.
• Cronos Group: Canadian licensed producer with spin-out focus and concentrate/vape exposure under brands including PEACE NATURALS and Cove. Larger incumbent selling into the same provincial boards and competing for concentrate retail share.
• High Tide Inc. Canadian cannabis retailer and consumer-products company (Canna Cabana, etc.) that both controls retail distribution Adastra depends on and competes with vertically integrated brands on shelf. Important channel/competitive peer because of its retailer scale.
• Tilray Brands: Large Canadian licensed producer selling branded flower, vapes and concentrates across provincial boards. Competes at the retail shelf end of Adastra's distribution channel and on medical cannabis.
• Canopy Growth Corporation: One of the largest Canadian licensed producers with deep medical and adult-use distribution including vape and concentrate SKUs. Competes at the provincial-distributor and medical-channel level that Adastra addresses through PerceiveMD.
• SNDL Inc. Canadian cannabis operator combining retail (Value Buds, Spiritleaf) with a processing and extraction platform via its prior Valens acquisition. Direct overlap with Adastra at both retail and contract-manufacturing layers.

Direct peers

• MediPharm Labs: Canadian GMP-certified cannabis extraction and contract-manufacturing company producing concentrates, vapes and cannabis-derived pharma-grade products for B2B customers. Direct peer on B2B extraction, white-label services and Health Canada–licensed processing capacity.
• The Valens Company (now SNDL-owned extraction assets): Canadian cannabis extraction and contract-manufacturing specialist producing concentrates, vapes and white-label products for other LPs. Closest analogue to Adastra Labs' extraction, white-label and co-manufacturing model with similar hydrocarbon/cryoethanol processing heritage.
• Rubicon Organics: Canadian premium cannabis producer with concentrate and pre-roll SKUs distributed through provincial boards. Comparable on focus on premium concentrates, pre-rolls and BC-based brand differentiation versus Adastra's Phyto Extractions/Endgame franchise.
• Auxly Cannabis Group: Canadian cannabis operator with branded products across flower, vapes and pre-rolls plus a licensed processing footprint. Comparable on provincial distribution, branded concentrate launches and white-label processing for partner brands.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/adastraholding
• Facebookfacebook.com/adastraholdings
• LinkedInlinkedin.com/company/adastraholdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Adastra Holdings