News Release

extractX Ltd. Announces new 2.0 Extraction Lab and Partnership with Canurta

extractX Ltd. Announces new 2.0 Extraction Lab and Partnership with Canurta

Niagara, ON January 21, 2026

extractX Ltd. (“extractX” or the “Company”), is a pioneering, turnkey, data-driven builder designer of mobile extraction labs, with Extraction-as-a-Service business model, for the botanical and pharmaceutical industries. We provide industrial-scale, Pharma-Grade mobile extraction labs that can be deployed on-site at a partner’s facility with minimal capital expenditure (CAPEX) for the partner.

extractX has partnered with Canurta, a biotech innovator that has developed novel methods to identify, extract, and enrich rare polyphenolic molecules, to expand its lab capabilities, the EML 2.0 to capture high-value plant compounds (including unique polyphenols and flavonoids) that have been previously unexplored, allowing for the generation of brand new, diversified revenue streams that materially reduce reliance on the emerging yet inconsistent global cannabinoid market – this new version of our proven Lab is a true Game Changer.

While extractX labs are already optimized for the highest quality extraction, we are enhancing the lab configuration to capture rare plant polyphenols such as cannflavins. Typically, these valuable compounds are present in trace amounts in various botanical biomasses and in many cases are difficult and costly to extract. By working with Canurta and leveraging their patented extraction processes, and unique know-how, our latest EML 2.0 labs provide the ability to also extract these high-value molecules, creating additional revenue streams for partners, without requiring additional costly processes.

“This extractX – Canurta partnership, allows are global processing partners lead in their market in discovering and delivering new natural products. This capability is especially compelling for pharmaceutical and nutraceutical companies seeking differentiated, IP-protected ingredients derived from nature,” stated Albert Iannantuono, CEO of extractX Ltd.

Akeem Gardner, CEO Canurta says “The vision for this initiative is inherently global. Health and wellness markets around the world are trending toward natural and plant-based solutions, and regulatory shifts such as cannabis rescheduling in the US, are opening new avenues for polyphenol-rich extracts in medicine. extractX’s mobile labs are designed to meet international standards, enabling their partners to have unique advantages as they in the EML 2.0 abilities to produce Canurta products.”

“We developed a whitepaper that dives into the science, infrastructure, and business model behind EML 2.0, revealing how partners can capture high-value polyphenols without heavy capital investment” said Albert Iannantuono CEO.

Whitepaper can be found here Unlocking High Value Natural Molecules with the extractX – Mobile Extraction Labs 2.0

About extractX Ltd.

extractX designs, builds, and supports industrial-scale, self-contained mobile extraction laboratories equipped with the most effective and reliable technology. Designed for 24/7 efficiency and unlimited scalability, our labs meet the demands of operations of any size. Built to GPP, GMP, and EU-GMP standards, extractX delivers purpose-built mobile extraction solutions—providing biomass cultivators and producers with on-site, on-demand service anywhere in the world.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com). Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information

Albert Iannantuono, CEO
extractX Ltd.
129 Hagar Street, Unit 4 Suite 600, Welland, ON L3B 5V9
905-327-5313

News Release

extractX Ltd. Announces Change of Auditor

extractX Ltd. Announces Change of Auditor

Niagara, ON December 1, 2025

extractX Ltd. (“the Company”) Announces Change of its auditors. In accordance with section 4.11 of National Instrument 51-102 Continuous Disclosure Obligations (“NI51-102”) the Audit Committee and the Board of Directors of extractX Ltd. (“the Company), hereby provide notices that Jones & O’Connell LLP has, at the request of the Company, resigned as the Company’s auditor effective November 25, 2025, and the Board of Directors of the Company have subsequently appointed SHIM & Associates LLP as the successive auditor.

The company extends its sincere appreciation to Jones & O’Connell LLP, Chartered Professional Accountants and, for their professional services and contributions as extractX Ltd.’s previous auditors and wishes them continued success in the future.

About extractX Ltd.

extractX designs, builds, and supports the operation of industrial-scale, self-contained mobile extraction laboratories equipped with the most effective and reliable technology. Designed for 24/7 efficiency and unlimited scalability, our labs meet the demands of operations of any size. Built to GPP, GMP, and EU GMP standards, extractX delivers purpose-built mobile extraction solutions—providing biomass cultivators and producers with on-site, on-demand service anywhere in the world.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com).

Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information

Albert Iannantuono, CEO
extractX Ltd.
129 Hagar Street, Unit 4 Suite 600
Welland, Ontario, L3B 5V9
Tel: (905) 327-5313
Web site: www.extractx.com

News Release

extractX Ltd. Announces Sunstar Trading / Druids Holdings / Africa Supply Company have signed a Memorandum of understanding for the Mobile Labs

extractX Ltd. Announces Sunstar Trading / Druids Holdings / Africa Supply Company have signed a Memorandum of understanding for the utilization of 6 extractX Mobile Labs

Niagara, ON September 2, 2025

extractX Ltd. (“extractX” or the “Company”), is proud to announce the Sunstar Trading / Druids Holdings / Africa Supply Company (the “Consortium”) have signed a Memorandum of Understanding (MOU). Valid until September 30, 2025, the parties will work together towards a definitive “Service Agreement” to utilize 6 extractX Mobile Labs in their expansion of extraction through Africa.

The Consortium desires to process Hemp/Cannabis biomass within the territory of specific countries/regions in Africa, specifically at this point, but not limited to, Namibia, South Africa, Botswana, Zambia, Tanzania and the DRC, all to be specified in the final Services Agreement. The goal is to grow on the great reputation all the companies have on the African continent.

Deano Salvarto, (Executive Partner) stated “We are collectively excited at the prospect of creating a truly sustainable partnership with the extractX team. We have, over the past few years, along with the support of  key members of the extractX team, endeavored to forge a strategic and unbreakable alliance; so as to create a solid synergy, that will see the extraction facilitation of future Hemp and when relevant, Cannabis, to allow for growth in various African countries pertaining to that of an ever-expanding industry. An industry that will give rise to job creation and product development, all the while expanding on the growth of the cultivation/agricultural sectors, the Health and Wellness Sectors and that of the private business as well as the government sector advancements. We further look forward to adding major value to the local cultivation communities and small holder farming sectors along with the full value chain to relevant market spaces”.

“We are privileged and blessed to have one of the forefathers of our industry to guide us on our path and who brings a wealth of knowledge and expertise to the forefront.” Cian McClelland, (Executive Partner) confirmed, “Additionally, we are truly privileged and blessed to have Brian Nolte, Shaun Nolte and Gene Nolte (Executive Partners) from Africa Supply Company on board, to steer and oversee access and operative oversight, true gems and true masters of their craft”

“We have established a great partnership, with this group of recognized and proven companies, and we are looking forward to a prosperous relationship for many years to come” stated Albert Iannantuono, CEO of extractX Ltd.

About extractX Ltd.

extractX designs, builds, and operates industrial-scale, self-contained mobile extraction laboratories equipped with the most effective and reliable technology. Designed for 24/7 efficiency and unlimited scalability, our labs meet the demands of operations of any size. Built to GPP, GMP, and EU GMP standards, extractX delivers purpose-built mobile extraction solutions—providing biomass cultivators and producers with on-site, on-demand service anywhere in the world.

About the Consortium

Sunstar Trading is a dynamic South African-based commodity and consulting company, with a core focus on partnering with cultivators, sourcing and supplying agri-commodities, medicinal and wellness products, rare earth and precious metals, as well as energy and fuels, on a global sourcing and partnership-based scale. We pride ourselves on providing quality services to the commodity industry whilst developing strong relationships with all our partners in the supply chain. Along with our partners.

With the experience accumulated over time, our strong global partnership network and our seamless interplay of strategy into our existing outlook to future markets and trends, we can add value and help minimize risk for our suppliers and customers and partners, by being a reliable and flexible supplier of quality commodities. Our ethos is to maintain long-term commercial relationships with our customers, who value our reputation and market knowledge.

Druids Holdings (Pty) Ltd is a Health and Wellness Group of companies that was established in 2017 to cultivate and process indigenous plants and mushrooms used in African and Asian traditional medicine, with the view to include medicinal cannabis when legislation permitted. As a team, the Druids Group brings together more than ninety years of medicinal plant and mushroom cultivation experience, sixty years of processing, manufacture and distribution experience, and a strong management and financial team with extensive experience in the full value chain of medicinal plants and mushrooms, and industrial hemp.

The Druids Group has acquired industry expertise and experience in the cultivation, processing, manufacture and distribution of:

  • Medicinal plants including hemp and cannabis.
  • Medicinal mushrooms including psilocybin.
  • Human and animal superfoods.
  • Industrial hemp including hempcrete, pressed board, textile and the phytoremediation of mine dumps.

The Druids Group consults to government departments and private institutions on the development of policy and the design and implementation of hemp and cannabis projects that have a direct socio-economic benefit for rural communities.

Afrika Supply Company was established as a platform for Specialists to combine their knowledge and expertise to bridge gaps and seize opportunities within the agricultural sectors throughout Africa. Through strategic partnerships with specialised individuals, the Company has identified key relationships to drive impactful Projects in developing Nations. ASC is positioned to leverage the inherent potential within the African Economy through our services to address deficiencies and requirements in development programs. Focused on the creation and implementation of Sustainable businesses and business relationships tailored to benefit the most vulnerable segments of society. The company excels in Development programs, offering comprehensive Turnkey solutions that encompass Project design, execution, and Management from inception to completion. In seizing opportunities ASC is actively involved in the establishment of HEMP and Cannabis Cultivation and processing Projects on a local and international front. With our ‘OUT GROWER” initiatives we stimulate economical growth for governments and communities within rural Africa. We believe in the development of our FARMERS for the sustainability of our beautiful continent.

ASC AGRI LOOKS FORWARD TO CHANGING THE FUTURE WITH YOU”

Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com). Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information

Albert Iannantuono, Co-CEO
extractX Ltd.
129 Hagar Street, Unit 4 Suite 600, Welland, ON L3B 5V9
905-327-5313

News Release

extractX Ltd. Signs Letter of Intent with Canurta Therapeutics

extractX Ltd. Signs Letter of Intent with Canurta Therapeutics: Accelerating Strategic Growth and CSE Listing via Amalgamation

Toronto, Ontario June 23, 2025

extractX Ltd., a leading provider of advanced extraction technologies and Canurta Therapeutics (“Canurta”), an innovative biotechnology company focused on developing novel therapeutic ingredients derived from industrial hemp, are proud to announce the signing of a Letter of Intent (LOI). This LOI initiates comprehensive due diligence aimed at executing a definitive merger agreement, and to explore opportunities to go public as an Amalgamated company.

extractX brings significant operational infrastructure, extraction processing capabilities and established revenue streams from its mobile extraction laboratories, complementing Canurta’s robust intellectual property portfolio, therapeutic pipeline—including its ALS candidate CNR-401—and proprietary PolyKye™ AI-driven drug discovery platform. This strategic alignment will accelerate extractX’s global sales and technology development, as well as Canurta’s growth trajectory and create a uniquely positioned entity poised to capitalize on the biotechnology and life sciences markets.

Canurta, positioned strongly with established funding sources and significant market potential, anticipates fulfilling this financing requirement effectively. This will allow Canurta to acquire extractX’s assets, technology, expansion opportunities globally and integrate their revenue streams and infrastructure, thereby enhancing the combined company’s growth trajectory and financial stability.

The combined entity will target a listing on the CSE between the second half of 2025 and the first quarter of 2026. The CSE’s entrepreneurial environment, reduced transactional friction, and strong liquidity profile provide an ideal platform for CanurtaX’s innovative and multidisciplinary market narrative, fostering access to diverse capital sources and investor communities.

“This amalgamation will make both companies stronger, allowing extractX to utilize its unique Mobile labs with some additional technology to create the supply of product for the Canurta pipeline of products and even help expand the opportunity globally, we are excited about the next steps,” states Albert Iannantuono, Co-CEO of extractX Ltd.

“This amalgamation with extractX represents a strategic milestone, propelling Canurta’s transformative vision in therapeutic innovation,” said Akeem Gardner, CEO of Canurta Therapeutics. “extractX’s proven revenue-generating capabilities and public market vehicle significantly enhance our ability to deliver value swiftly and efficiently to our stakeholders.”

Both companies will undertake rigorous financial, operational, and regulatory due diligence in the coming months, with the objective of concluding a definitive merger agreement within the term set by the LOI. Concurrently, Canurta is advancing regulatory consultations, nonclinical activities, and clinical trial preparations, reinforcing its commitment to pioneering therapeutic solutions.

Further updates will be provided as milestones are achieved towards the definitive agreement, and an order lifting the existing cease trade order against extractX Ltd, and a CSE listing.

For additional information, please contact:
ir@extractx.com or investors@canurta.com.

About Canurta Therapeutics:

Canurta Therapeutics specializes in innovative therapeutics derived from industrial hemp. With a significant intellectual property portfolio and innovative AI-driven drug discovery platform, Canurta aims to transform healthcare by addressing critical therapeutic needs.

About ExtractX Ltd.:

extractX Ltd. provides advanced extraction solutions, operating state-of-the-art mobile laboratories that deliver high-purity, scalable botanical extracts for pharmaceutical and therapeutic markets globally.  Issued and outstanding capitalization as of May 31, 2025, prior to giving effect to the aforenoted transaction – 24,786,786 common shares.

Forward-Looking Statements

This press release contains forward-looking statements related to the anticipated amalgamation, benefits of the partnership, clinical development activities, and timing of CanurtaX’s CSE listing. Actual outcomes may differ materially due to various risks and uncertainties. Readers are advised not to place undue reliance on these forward-looking statements.

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com).

Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information

Albert Iannantuono, Co-CEO
extractX Ltd.
129 Hagar Street, Unit 4 Suite 600, Welland, ON L3B 5V9
Email: alberti@extractx.com
Tel: 905-327-5313
Web site: www.extractx.com

Akeem Gardner, CEO
Canurta Therapeutics Inc.
2425 Matheson Blvd, Suite 807, Mississauga ON L4W 5K4
Email: akeem@canurta.com
Tel: (416) 805-4959
Web site: www.canurta.com

News Release

extractX Ltd. Adapts its Pricing to Expanding Market Conditions

extractX Ltd. Adapts its Pricing to Expanding Market Conditions

Niagara, ON April 7, 2025

extractX Ltd. (“extractX” or the “Company”), – announced today that they have adjusted their business model on its four extraction models.

“With the changing economics and growing opportunities, we have been listening to the marketplace and adjusted our business model to address the needs of our potential partners. extractX has developed a scalable, mobile, with a low Capex, Pharma-Grade, easily deployed Lab with a cost-effective Processing Fee that creates a win-win for all”, stated Albert Iannantuono, CEO of extractX Ltd.

The Cannabis/Hemp market keeps changing and extractX had to meet the market conditions with a reasonable approach for expansion. extractX’s proud of its quality, leader in market approach and being able to deliver on its promises and has adapted to these new opportunities.

For more details visit https://www.extractx.com/solutions/.

About extractX Ltd.

extractX designs, builds, and operates industrial-scale, self-contained mobile extraction laboratories equipped with the most effective and reliable technology. Designed for 24/7 efficiency and unlimited scalability, our labs meet the demands of operations of any size. Built to GPP, GMP, and EU GMP standards, extractX delivers purpose-built mobile extraction solutions—providing biomass cultivators and producers with on-site, on-demand service anywhere in the world.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com). Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information

Albert Iannantuono, Co-CEO
extractX Ltd.
129 Hagar Street, Unit 4 Suite 600, Welland, ON L3B 5V9
905-327-5313

News Release

Salus Bioceutical extend their Service Agreement

extractX Ltd. Announces Salus Bioceutical (Thailand) Co. Ltd. have signed an Agreement to extend their Service Agreement with an Intent to Buy the Lab in 2025.

Niagara, ON February 25, 2025

extractX Ltd. (“extractX” or the “Company),  is proud to announce Salus Bioceutical (Thailand) Co., Ltd (“Salus”) has signed an Agreement to extend its previous contract into 2025 and intend to Buy the extractX Lab by end of 2025. Salus original agreement was signed on April 6, 2021, which had extension options that Salus decided to execute on.

Wittawin Vidthayanon, Chief Operating Officer, Salus stated “The extractX labs are also cost-effective, boosting our production while saving space and investment costs. The comprehensive support we received for installation, training, and process validation has been invaluable.”

“We have established a good partnership, and we are looking forward to working together for many years to come” stated Albert Iannantuono, Co-CEO of extractX Ltd.

Salus Bioceutical (Thailand) Co., Ltd recently achieved PIC/S approval and is actively working towards EU GMP compliance, which will significantly expand its reach into new markets. With Thailand’s recent tightening of cannabis regulations, Salus is uniquely positioned to grow as one of the country’s few fully compliant, fully integrated companies, focusing exclusively on the non-recreational, medical cannabis market.

About extractX Ltd.

extractX designs, builds, and operates industrial-scale, self-contained mobile extraction laboratories equipped with the most effective and reliable technology. Designed for 24/7 efficiency and unlimited scalability, our labs meet the demands of operations of any size. Built to GPP, GMP, and EU GMP standards, extractX delivers purpose-built mobile extraction solutions—providing biomass cultivators and producers with on-site, on-demand service anywhere in the world.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com). Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information

Albert Iannantuono, Co-CEO
extractX Ltd.
129 Hagar Street, Unit 4 Suite 600, Welland, ON L3B 5V9
905-327-5313

News Release

Cease Trade Order Issued for extractX Ltd.

Cease Trade Order Issued for extractX Ltd.

Niagara, ON November 7, 2023

extractX Ltd. (“extractX” or the “Company”), – announced today that a Cease Trade Order (the “CTO”) has been issued by the Financial Consumer Affairs Authority (FCAA). The CTO was issued as a result of a delay in the filing of the Corporation’s audited annual financial statements, accompanying management discussion and analysis, and certifications for the financial year ended September 30, 2022, and the corresponding interim financial statements, management discussion and analysis, and certifications for the period ended December 31, 2022, March 31, 2023, and June 30, 2023 (collectively, the “Required Records”).

The Company continues to operate normally without disruption during the CTO and is working diligently and expeditiously with its auditors to complete the Annual Filings as soon as possible.

About extractX Ltd.

extractX designs, builds, and supports industrial scale self-contained mobile extraction laboratories equipped with the most effective and reliable equipment, allowing for efficient 24/7 operation, and unlimited scalability to meet the demand of any size operation. Built to GPP/GMP/EU GMP standards, extractX purpose builds mobile extraction laboratories to service biomass cultivators and producers wherever and whenever the service is needed to, onsite and on demand anywhere in the world.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com).

Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information

Albert Iannantuono, Co-CEO
extractX Ltd.
1027 South Pelham St Unit 2,
Welland, Ontario, L3C 3E2
Tel: (905) 327-5313
Website: www.extractx.com

News Release

extractX Ltd. Partner Receives GMP-PIC/S by Thai FDA

extractX Ltd. Partner Receives GMP-PIC/S by Thai FDA

Niagara, ON May 1, 2023

extractX Ltd. (“extractX” or the “Company”), announced today that Salus Bioceutical (Thailand) Co., Ltd. (Salus) utilizing extractX mobile lab technology has achieved certified Good Manufacturing Practice – Pharmaceutical Inspection Co-Operation Scheme (GMP – PIC/S) by the Thai Food and Drug Administration (FDA) for manufacturing the ingredients used in herbal medicine products. In addition, Salus has become the first company in Thailand to be certified by the Thai Industrial Standards Institute (TISI). Please see the following letter for additional information.

Acknowledgement of Achievement of Certified Standards

extractX is proud to provide Salus with EU-GMP and GMP-PIC/S certifiable equipment and processes, along with ongoing support in their achievement of these certifications.

We would like to congratulate Salus for becoming the first TISI certified and PIC/S compliant producer in Thailand. With PIC/S stated purpose of promoting harmonization of GMP standards globally, we expect our GMP / EU-GMP certifiable mobile laboratories, processes and ongoing support will help more manufacturers achieve the highest quality extraction to serve local and global market opportunities

– Albert Iannantuono, Co-CEO of extractX Ltd.

Salus is extremely proud of its achievements, and are thankful to extractX for its support, partnership, well-designed technology and processes, which contributed to Salus achievement of these important certifications. We see a mutually prosperous relationship for the long term,” commented Tanadee Pantumkomon, Chief Executive Officer and Director Salus Bioceutical (Thailand) Co., Ltd.

About extractX Ltd.

extractX designs, builds, and assists in operations of industrial scale self-contained mobile extraction laboratories equipped with the most effective and reliable equipment, allowing for efficient 24/7 operation, and unlimited scalability to meet the demand of any size operation. Built to GPP/GMP/EU GMP standards, extractX purpose builds mobile extraction laboratories to service biomass cultivators and producers wherever and whenever the service is needed, onsite and on demand anywhere in the world.

For further information

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com). Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information contact:

Albert Iannantuono, Co-CEO
extractX Ltd.
1027 South Pelham St Unit 2,
Welland, Ontario, L3C 3E2
Tel: (905) 327-5313
Website: www.extractx.com

News Release

extractX Ltd. Announces Change of its Chief Financial Officer

extractX Ltd. Announces Change of its Chief Financial Officer

Niagara, ON April 21, 2023

extractX Ltd. (“extractX” or the “Company”), – announced today that George Barkwell will be ending his tenure at extractX as Chief Financial Officer as his time will be limited as he pursues slowing things down and other opportunities. George has been an integral part of the extractX team since joining the company in 2020 and has contributed greatly to the company’s success.

The extractX Board of Directors would like to express their sincere gratitude for George’s contributions over the past 3 years and wish him the best in his semi-retirement and future endeavors.

The timing is good, for George to move on as we are experiencing a slow period. We thank George for his leadership, professionalism and dedication to extractX. He has been instrumental in helping us reach many of our goals. We wish him all the best and are grateful he will still be able to advise, as may be necessary” said CEO Albert Iannantuono.

Albert Iannantuono will serve as INTERIM CFO, until the time is right to bring on a full-time professional.

About extractX Ltd.

extractX designs, builds, and assists in operations of industrial scale self-contained mobile extraction laboratories equipped with the most effective and reliable equipment, allowing for efficient 24/7 operation, and unlimited scalability to meet the demand of any size operation. Built to GPP/GMP/EU GMP standards, extractX purpose builds mobile extraction laboratories to service biomass cultivators and producers wherever and whenever the service is needed to, onsite and on demand anywhere in the world.

Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although extractX Ltd. believes that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by extractX Ltd. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com). Unless otherwise required by applicable securities laws, extractX Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information contact:

Albert Iannantuono, Co-CEO
extractX Ltd.
1027 South Pelham St Unit 2,
Welland, Ontario, L3C 3E2
Tel: (905) 327-5313
Website: www.extractx.com

Blog

Cannabis Extraction and Electric Shavers

Cannabis Extraction and Electric Shavers

By Mitchell Osak, extractX Board Member

I like the product so much I bought the company

-Victor Kiam, Former CEO of Remington Products

Mitchell Osak

I begin this piece by channelling my internal Victor Kiam. After first hearing about extractX (eXi) from Albert and Collin in 2021, I liked the company so much I joined the Board.

This is not cheerleading or politesse. eXi’s value proposition was compelling then and continues to this day – maybe even more so. Simply put, the Company is in the right place at the right time. Let me explain.

Right Place

Several positive cannabis and hemp industry trends are intersecting right now. These trends bode well for an increase in the demand for edible and derivative products that use the full spectrum isolate and distillate eXi specializes in. For example, cannabis edibles and CBD wellness products are seeing rapid growth across a variety of categories tracing to product innovation and evolving consumer tastes. Furthermore, new, legal markets are coming on stream on a regular basis. Of note, markets as geographically diverse as New York, Missouri and New Mexico just opened up. Germany and other EU states are about to legalize. Finally, hemp cultivation is increasing around the world including massive virgin areas like Africa and Asia (we are very active from a business development and operating basis in both regions). The higher the cultivation of hemp grown the greater the need for extraction services to serve its myriad of applications, some of which like hempcrete are seeing rapid increases in demand.

Right Time

To say that most cannabis and hemp firms are financially challenged would be an understatement. These challenges are market-based such as margin compression (higher input prices combined with price declines) and hyper competition tracing to open licensing environments. Their difficult financial strait is also a function of higher interest rates, inflation, and a dearth of inexpensive capital (if you can get it) typically deployed in emerging sectors.
In this difficult environment, new and existing cannabis & hemp operators have learned two important strategic lessons which CPG, beverage alcohol and tobacco peers discovered a long time ago.

Focus on your core competencies – At the outset of legalization, cultivators tried to do everything themselves: grow, process and extract. Naturally, this did not prove to be a financially sustainable business model, nor did it simply enable companies to maintain world class extraction capabilities. Extraction is an obvious activity to outsource or seek out a creative operational solution that maximizes agility and scalability. It is common these days and increasingly so to see cannabis and hemp cultivators pick their strategic lanes. Very often, this does not include extraction.

Turn your fixed costs into variable costs – When companies are cash starved, unable to secure capital and have uneven extraction volume requirement, the prudent move is to find a way to undertake extraction ‘as needed, when needed’. This allows firms to conserve capital, de-risk their operations and better allocate resources. Again, this is a common business strategy (think IT) that is quickly migrating over to cannabis.

Right place, right time. It is clear to me and others that eXi’s extraction solutions fills some important consumer, market and operational needs in a proven fashion. Victor Kiam would be impressed.

Originally published in the extractX April 2023 Newsletters

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