First Installation Headed to California’s Cannabis Production Heartland
DENVER — CryoMass Technologies Inc. (the “Company” or “CryoMass”) (OTCQX: CRYM) is pleased to announce that rigorous testing of its patented cryogenic trichrome separation system has yielded results in all key areas of interest that either met or significantly surpassed pre-testing expectations. The Company is now busily preparing to deliver its first commercial unit to an operating partner based in the heart of the largest cannabis production region of the world’s largest cannabis market, California.
This Monterey-based company manufactures premium extracts for their own brand and several of the more prominent, better-known brands in California. Their extensive expertise in producing high-quality, standardized extracts should prove invaluable as we refine standard operating procedures (SOP) to guide product development for future customers.
Together we are establishing a toll processing station at their sophisticated Monterey facility, where we expect to process cannabis on behalf of some of California’s leading cannabis cultivators, many of which are already close business relationships. The Company is confident this partnership will begin generating revenues in the 4th quarter of 2022 and anticipate a steep ramp-up in revenues throughout 2023.
The CryoMass system enables cannabis and hemp cultivators and processors to optimize and streamline their processes, thus dramatically reducing costs while simultaneously capturing approximately 97% of the active elements and increasing the purity and quality of the products sold to consumers.
CryoMass Director and CEO Christian Noël stated, “Finally, after seven years of engineering, product development, and testing, we are ready to commercialize this exciting new technology. And the demand is incredible. Every week we receive inquiries from cannabis and hemp cultivators and processors from all around the United States and the rest of the world as well. It’s an exciting time for us.”
Noël added, “Our initial target market is North America, especially the United States. We think our first deployment in Monterey will serve to attract cultivators from within a four-hour radius seeking to avail themselves of this “must-have” new cryogenic trichome separation technology. Between Santa Barbara and Monterey, we will be positioned to toll-process for approximately 5,000 cultivation licenses representing 60% of the entire California market. We view this first installation as the perfect venue to showcase the CryoMass system to future customers from all around the globe.”
Testing Phase Highlights
When comparing the results of the patented CryoMass system to traditional trichome separation systems, there is no comparison.
Based on the processing of 25,000 lbs. of biomass, here are the results of our trichome separation system versus nine leading traditional systems that do not and cannot utilize our patented cryogenic, solventless separation process:
|CryoMass Versus Traditional Trichome Separation Systems||CryoMass||Traditional|
|Biomass processed per hour (lbs.)||1320||60|
|Separation time in days (based on 12-hour days)||1.6||66|
|Expected average trichome yield (lbs.)||8,000||1,750|
|Operating expenses ($)||$ 2,816||$ 33,533|
|* Traditional systems data was gathered from company websites and from conversations with company representatives|
It is important to note that one of the key reasons the CryoMass system is so much more efficient from a process and cost-saving perspective is that it is, to the best of our knowledge, the only continuous-feed separation system while all others are batch-feed systems.
Although the Company’s initial focus is on the cannabis and hemp sector, there is tremendous potential to generate important revenue streams from processing other high-value, trichrome-rich plants where similar cost savings and end-product improvements can be realized.
Here is the video of the continuous-feed CryoMass trichrome separation system in operation that was initially published in May: CLICK HERE TO WATCH THE VIDEO
The common stock of CryoMass Technologies Inc. trades on the OTC QX market under the symbol CRYM. For further information, please contact the Company by email at [email protected] or by telephone at +1 833 256 2382.
This press release is not an offer of securities, or a solicitation for purchase, subscription or sale of securities in the United States of America or in any other jurisdiction in which it would be unlawful to do so.
This press release may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 that involve known and unknown risks, uncertainties and other factors, including risk factors identified in the Company’s SEC filings, and which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Risks and uncertainties include, without limitation, changes in the regulatory environment affecting the sale and use of cannabis or hemp products and of other, potential lines of businesses that the Company will consider entering at a given time, demand for the Company’s products, internal funding and the financial condition of the Company, product roll-out, competition, our dependence upon our commercial partners, variations in the global commodities markets and other commercial matters involving the Company, its products and the markets in which the Company operates or seeks to enter, as well as general economic conditions. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Marijuana, as defined in the U.S. Controlled Substances Act, remains a Schedule I drug under the respective act, making it illegal under federal law in the U.S. to, among other things, cultivate, distribute or possess cannabis. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the U.S. may form the basis for prosecution under applicable U.S. federal money laundering legislation. Please carefully review the Company’s SEC filings with respect to related risk factor.
- Commentary: It’s time for Biden to keep his promises on cannabisPaul Armentano, the deputy director of the National Organization for the Reform of Marijuana Laws (NORML), calls on President Joe Biden to live up to the pledges made during his campaign regarding cannabis legalization.
- Unofficial totals show Missouri cannabis legalization initiative shortAn initiative to legalize recreational marijuana use in Missouri will need help if it is going to be on the November ballot. Reports from every county in the state show the petition is short of its goal in two of the six congressional districts needed to qualify for the ballot.
- Fate of Missouri cannabis initiative unclear as signature count continuesWhether Missouri voters will get a chance to legalize recreational marijuana in November is still in question. The latest incomplete tabulations show the Legal Missouri 2022 initiative is short of the necessary signatures in four of the six Congressional districts necessary to make the ballot.
- ACLU of NV suit to deschedule cannabis statewide survives challengeA legal effort by the ACLU of Nevada to force the Nevada Board of Pharmacy to remove cannabis from its Schedule 1 of controlled substances will proceed, Clark County Judge Joe Hardy ruled Wednesday when he denied the board’s motion to dismiss the ACLU’s lawsuit.
- Advocates, parents ‘beg’ Nebraskans to seek out and sign petition to legalize medical cannabisAdvocates for legalizing medical marijuana switched Wednesday from urging Nebraskans to sign their petition to begging them as a July 7 deadline looms to submit signatures to qualify for the ballot in November.
- Iowans launch cannabis reform campaign aimed at showing public supportRobert “Lewy” Lewis of Windsor Heights has been in pain since 1974, when he had spinal surgery at the age of 21. To repair a blockage in his spine, surgeons removed eight inches of his vertebrae and then sewed them back on, using about 300 steel stitches.
- Big Apple Cannabis: CWCB Returns to New York City for Eighth Year“No one seems to have gotten it right.” Mayor Eric Adams told a Friday afternoon crowd, of legal cannabis in America. “This is our chance to get it right.” New York City’s mayor addressed attendees of the 2022 Cannabis World Congress & Business Expo (CWCBExpo) on the second day of the three-day event. Adams stressed the social equity focus of New York’s cannabis program.
- Nebraska medical cannabis backers file legal challenge to petition processSupporters of medical marijuana in Nebraska have launched a legal challenge to the state’s requirement that 5% of registered voters in at least 38 counties sign a petition to get the measure before voters on the ballot.
- N.J. lawmakers seek to curb cannabis useAs New Jersey nears the end of its first month of legal recreational marijuana sales, lawmakers have introduced a series of bills aimed at restricting what types of workers can use cannabis off the job.
- Missouri House votes to require disclosure of medical cannabis ownership recordsThe Missouri House voted overwhelmingly Tuesday to require state regulators to disclose ownership information for businesses granted medical marijuana licenses that the state has withheld from public view.