Adastra Holdings announces sales in August
by CM Staff
Sales of nearly $1.7M in August 2021 sets a new monthly record, exceeding the previous monthly record of $1.5M in May 2021.
LANGLEY — Adastra Holdings Ltd., a company involved in ethnobotanical and cannabis science products, announced preliminary unaudited provincial wholesale sell-through in August 2021 of nearly $1.7 million. This represents a 27% increase over the prior three-month average and puts year-to-date brand sales for the first eight months of 2021 at approximately $8.7 million compared to $6.7 million for all of 2020.
The wholesale sales for the Phyto Extractions brand reflected a choice for the Company’s products by Canadian consumers and retailers across the country. They were driven by product line extension, new market expansion, and effective consumer marketing.
- Product line extension: The Company has introduced several new cannabis products in recent months, with 1 gram Blue Raspberry, 1 gram Green Apple Cartridge, 1 gram Pink Kush Shatter, 1 gram D Bubba Shatter and 1 gram Blue Gorilla OG Shatter being particularly popular. The Shatter launch was particularly successful, with 3,370 cases sold to provinces in the first four months of sales.
- New market expansion: During the summer months, the Company launched new product listings in the Ontario market, positively contributing to the growth. In addition, in the first week of September, the Company shipped its first purchase order to the Yukon territory, which is expected to contribute to continued growth in the coming months. Overall, the Alberta market continues to be the Company’s largest market and one of its strongest.
- Marketing: The Company’s advertising and grassroots marketing campaigns have raised brand awareness among consumers and retailers and driven market penetration and sell-through from provincial wholesalers.
“The Phyto brand is resonating with consumer, retailers, and provincial wholesalers across Canada, which is being reflected in the strong August and year-to-date wholesale sales,” said Donald Dinsmore, COO, Adastra Holdings Ltd. “These positive trends are coming as part of our broader strategy to raise brand awareness and aggressively capture market share. Increased penetration in Ontario and new product releases are only in their infancy. We expect that these efforts will continue to drive growth for many more months to come.”