- HTC recently closed a bought deal private placement worth $10 million in funding
- Demand for hemp biomass continues to grow with the U.S. hemp-derived CBD market expected to reach $22 billion by 2022
- HTC’s proprietary biomass processing methodology maximizes extraction and purification of hemp biomass
After successfully raising $10 million in a private placement financing of 25 million units of the company, HTC Extraction Systems (TSX.V: HTC) is poised to expand its role in the cannabidiol (CBD) extraction market. HTC plans to use the funds for purchase of extraction, purification and refining equipment, and for general working capital purposes, the company stated in a news release (http://cnw.fm/YBa1g).
U.S. sales of hemp-based CBD products are expected to soar from 2018’s $591 million to $22 billion by 2022, growing at a CAGR of 147 percent, according to Brightfield Group…
NOTE TO INVESTORS: The latest news and updates relating to HTC are available in the company’s newsroom at http://cnw.fm/HTC
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