Quadron $QCC Enters U.S. Market And Signs Definitive Development And Distribution Agreement

Quadron_Cannatech_Vertical_Logo(CSE:QCC)

Quadron Cannatech Corporation  is pleased to announce that it has entered into a definitive agreement with Lucid Labs, LLC, a Washington-based technology development and licensing company, to develop and commercialize certain extraction and processing systems for the cannabis industry.

Under the agreement Quadron and Lucid Labs will co-develop four new processing systems for commercial release to the North American cannabis industry over the next 30 months. The development and commercialization of these systems will add to Quadron’s current suite of products, which are quickly establishing Quadron as an industry leader in designing and developing turnkey, state-of-the-art extraction equipment and processing solutions.  The four individual pieces of equipment/systems are:

System #1 – Alcohol Extraction System
System #2 – Pressure Assisted Filtration System
System #3 – Distillation System
System #4 – Hydrocarbon Extraction System

Additionally, Lucid Labs will become a preferred sales agent in the Western United States for all processing systems and solutions offered by Quadron.

“Lucid Labs is an excellent strategic partner, enabling Quadron to capitalize on Lucid’s well established footprint in the Western United States.  As part of the development component of this agreement, together we will concentrate on unique processes for isolating only the highest-purity cannabinoids available, and strive to produce the cleanest, purist and most consistent product. On the heels of the recent launch of our proprietary, automated, plug & play “BOSS” CO2 Extraction System, we are excited to work with Lucid to expand our revenue base into the growing US market.”

-Rosy Mondin, CEO and President of Quadron

Following a period of initial commercialization, Quadron will acquire Lucid Lab’s interest in the developed systems, based on an agreed profit multiple for each system. The purchase price will be satisfied through the issuance of common shares of Quadron to Lucid Labs, subject to any necessary regulatory approvals.