Quadron Cannatech (QCC.C) is adding to its board with two new directors.
Larry Anderson and David Beck are the two latest additions to Quadron’s board of directors.
Anderson has spent more than 30 years in real estate. In his time with Sutton Premier Realty, he oversaw more than 165 realtors.
Expertise in corporate governance is another attribute Anderson will be bringing to Quadron.
The company’s new chairman formerly served on the Legislative and Public Affairs Committee for the Fraser Valley Real Estate Board and is currently serving his fifth term as broker’s council chair and director for the Fraser Valley Real Estate Board.
Beck has spent more than 30 years with various national financial institutions in various roles. In his long career in finance, Beck has been a financial analyst, an institutional and proprietary trader and an investment banker.
Quadron has also appointed Tamas Jozsa to be the president of Soma Labs Scientific, Quadron’s wholly-owned subsidiary. Jozsa is replacing Shane Lander who is now Quadron’s chief research and development officer.
“Mr. Jozsa has demonstrated tremendous leadership in the Company’s development, and we are pleased that he is stepping up to take a larger role with Soma.”
–Rosy Mondin, CEO of Quadron.
Quadron sales ramping up
Quadron recently sold a fully-loaded, end-to-end cannabis extraction and processing facility.
The client, Cannaworld Ventures, “provides strategic investments in the cannabis industry focusing primarily on opportunities in the cannabis processing sector.”
Cannaworld Ventures is currently taking part in the construction of a large-scale 38,000 square foot extraction and processing facility.
The facility’s first phase will be limited to developing the facility’s CO2 extraction capabilities for the production of cannabis oils. Enter Quadron Cannatech.
What Quadron is delivering:
- Biomass preparation (drying, dehydration, grinding);
- Extraction (BOSS CO2 system);
- Various filtration components;
- Solvent recovery;
- Refinement and distillation;
- Formulation;
- Tables, tools and basic equipment;
- Freezers and refrigerators;
- Basic analytical equipment for concentration levels for cannabinoids (not including pesticides, heavy metals, bacterial or fungus).
“Our in-house team of engineers and chemists are focused on innovation and removing bottlenecks in the extraction of cannabis oils. Our next-generation CO2 extraction and processing solutions are built to support producers getting to and maintaining ROI. We’re giving our clients the edge in a new and fast-changing industry.”
–Rosy Mondin, Quadron’s CEO.
Quadron says the extraction and processing equipment has been slated for delivery the week of Feb. 4, 2019.
In late January, we reported Quadron had finalized the sale of one of their BOSS extraction systems to British Columbia-based cultivator, Ten-10 Ventures.
With more and more processing licenses coming online in Canada, Quadron’s sales will increase accordingly. There are currently 96 Health Canada-authorized processors to-date.
Quadron closed at $0.18 today. The company has 71.6 million shares outstanding and a market cap of $12.8 million.
Considering the profitability of manufacturing cannabis concentrates in conjunction with the soon-to-be legal status of cannabis concentrates in Canada, companies like Quadron may soon be your friendly neighbourhood LPs best friend.
–Ethan Reyes
Full disclosure: Quadron Cannatech is an Equity.Guru marketing client.