The cannabis industry has proven to hold opportunity not only for those who want to grow cannabis, but those involved in infusion and extraction, making a wider variety of cannabis products. Cannabis has a laundry list of uses and can even be infused into food and beverage or even extracted into a topical-based product. As recreation and medical cannabis is on the rise, so is the need for new methods of consumption.
In an announcement on Tuesday, August 21, 2018, Mountain High Acquisitions Corp. (OTC:MYHI) has closed on their deal acquiring One Lab Co. The deal also has attached a “five-year lease of its modular extraction lab to Workforce Labor Solutions, LLC, which provides turnkey labor and extraction services to licensed cannabis producers in Washington state.”
One Lab Co. is a extraction equipment provider in the cannabis industry known for state-of-the-art technology such as their MeP™ extraction technology. This technology has industry beating production numbers dialing in at 15 pounds per hour, which “offers more material throughput than any other hydrocarbon extractors on the market.”
Essentially, Mountain High Acquisitions will now be able to effectively provide extraction solutions to the growing cannabis cultivation industry without huge capital investment. Companies in the industry are able to lease the equipment allowing the producers to “minimize business risk… without the need to outlay capital for critical assets such as extraction equipment.”
In the press release, CEO Alan Smith of Mountain High Acquisitions stated: “We’re meeting this growing need in the cannabis space, which stems from an increasing number of consumers interested in cannabis, but who don’t want to smoke it. As a result, demand for edibles and other end products is growing—but to make these products, cannabis product makers require a variety of quality cannabis extractions. Thus, providing access to highly efficient, state-of-the-art extraction equipment is part of our strategy to drive revenue and we intend to pursue this niche aggressively in the coming year.”