CHROMA PROVIDES UPDATE TO STAKEHOLDERS
ON KEYSTONE ISOLATION TECHNOLOGIES
Vancouver, B.C., November 10, 2021 - Chroma Global Technologies Ltd. (“Chroma” or the “Company”), is a privately held British Columbia corporation, founded in 2013 to revolutionize and optimize the commercialization roadmap of the cannabis extraction industry.
On July 19, 2018, Chroma Global Technologies Inc. (“Chroma”) entered into a joint venture partnership with Keystone Isolation Technologies Inc. (“KIT”) to carry on a cannabis extraction business applying Chroma chromatography extraction solutions on an industrial scale. The joint venture, Keystone Isolation Technologies Inc (“KIT”) will be a critical component in our plans to enter the U.S. CBD market.
SOURCE: HEXO CORP. (HEXO) SEC FILING 40-F ANNUAL REPORT FOR THE FISCAL YEAR ENDING WEDNESDAY, JULY 31, 2019. PAGE 10-11.
As a global producer of high yield, high potency, low-cost ingredients, Chroma has signed multiple strategic joint venture partnerships and is pleased to announce that it has entered into an Equipment and Supply Agreement (the “Agreement”) with Keystone Isolation Technologies (KIT) a leading cannabis producer and consumer packaged goods company. The partnership between KIT and Chroma Global Technologies Ltd.
The Agreement will allow the JVCO to execute on their business model by applying Chroma's IP and technology solutions to perform cannabinoid extractions on an industrial scale. The build out has been ongoing, and we are pleased to announce that as of September 2021, Chroma’s CTO Frank Zhu and our project engineers are on site at the Belleville facility installing the equipment for the 3,000 kg extraction line.
Colorado Production Facility
On June 28, 2021 KIT announced the purchase of its Colorado facility, its first US production facility through it's wholly owned US subsidiary KIT USA. The ~50,000 sq. ft. facility in Fort Collins, Colorado will provide U.S. CPG companies and consumers access to the CHROMA GRADE™️ technology and products. Chroma plans to deliver and install additional large scale equipment to extract both major and minor cannabinoids such as CBG and high potency CBD. We look forward to this Joint Venture becoming operational.
Chroma has initiated a California JV focused on expanding our IP Portfolio and Technology Pipeline through research and refinement to develop cutting edge minor cannabinoid extractions such as CBC, CBN, CBG, THC-O-Acetate and THCA. The California cannabis market is expected to reach 7.2 billion by 2024. Within the scope of this project Chroma will continue to assist the industry in cleaning contaminated oil.
The exponential capability of the Chroma technology to deliver consistent, CHROMA GRADE™️ ingredients on a commercial scale will set a new industry standard for manufacturers working to deliver excellence with innovative extracted products. Chroma continues to disrupt the extraction industry by unlocking higher margins for global CPG Manufacturers.
ON BEHALF OF CHROMA GLOBAL TECHNOLOGIES LTD.,
Rene David | CEO & Founder