Market Herald logo


Be the first with the news that moves the market
  • HTC Extraction (HTC) has completed its purchase of Kase Farma
  • Kase Farma is a cannabinoid manufacture licenced in California, U.S.
  • The Purchase was made for C$1.2 Million
  • Kase Farma is currently upgrading production at its California facility
  • HTC Extraction (HTC) was steady, with shares currently trading at C$0.20

LNG gas manufacturer, HTC Extraction ( HTC), has completed its purchase of American cannabinoid manufacturer Kase Farma Inc.

In a share and purchase agreement with Startling Brands Inc., the company acquired all the shares of Kase Farma, which is now a wholly owned subsidiary of HTC Extractions. 

The purchase consisted of a C$1,200,000 cash buy-out as well as large issuance of shares and warrants by HTC Extractions.  

Mike Reynolds, Starling Brands’ CEO stated he’s excited to work alongside HTC.

Kase Farma is authorised in California, U.S. and cultivates and extracts various hemp and CBD products.

The farm has an “Identity Preserved Initiative” which allows consumers to track where exactly the products have originated from.  

Kase Farma is currently upgrading its California plant. It hopes to bring production up to 435,000 grams each day. Running at this capacity, the gross revenue potential would be C$1.85 million a day.

Kase Farma’s is valuable to HTC for two reasons.

Firstly, as a producer of cannabinoids and secondly as a source of plant-based biomass for HTC Extractions’ renewable natural gas projects.

HTC Extraction (HTC) was steady, with shares currently trading at C$0.20

More From The Market Herald

" BioHarvest (CSE:BHSC) predicts 2022 revenue to grow up to 3.5 times

BioHarvest Sciences Inc. (BHSC) expects strong revenue growth to continue in 2022 due to a successful over-delivery of projected revenue targets from last year.

" Icanic Brands (CSE:ICAN) agrees to acquire cannabis extraction company

Icanic Brands Company (ICAN) has signed a definitive agreement to acquire 100 per cent of LEEF Holdings Inc.
Tilray - Denise Faltischek, Head of International and Chief Strategy Officer.

" Tilray (TSX:TLRY) expands Australian medical cannabis offering

Tilray (TLRY) has expanded its medical cannabis product suite in Australia.

" Craftport Cannabis (CSE:CFT) announces $3M private placement

Craftport Cannabis (CFT) has announced a non-brokered private placement for gross proceeds of $3 million.