Xtraction Services Ends Year Powerful with Extensive Pipeline for 2019 and Record Number of Deals Closed

Xtraction Services, an equipment leasing and extraction solutions company providing state-of-the-art extraction equipment and service expertise to a global network of cannabis and hemp producers, announced it will end the year with a record number of financing deals. XS also reported a series of new deals worth over $12 million over the lifetime of the contracts.

The company’s expert approach to the expanding legal cannabis and hemp businesses has drawn new deals from around the country, ranging from the West Coast to middle America. The financing firm’s pipeline indicates even further geographical reach, with expansion into new regions — domestically and internationally — in 2019.

“Xtraction Services is wrapping up a banner year where we’ve been blessed to craft partnerships with some of the best producers in the cannabis and hemp extraction company,” said David Kivitz, CEO of Xtraction Services. “We continue to receive significant interest and attention from customers around the nation due to our exclusive position, strategy and product offering. Furthermore, we’re very happy to provide businesses that are often not able to tap the broader capital markets with the chance to expandscale and finance their equipment purchases. ”

XS provides high-volume manufacturers access to the large-scale industrial equipment necessary to extract oil from cannabis and hemp plants. By offering a selection of financing options, paired with XS’s first-class support services and technological expertise, the company offers cannabis entrepreneurs the ability to be more strategic with their resources.

In Kentucky alone, XS has implemented several royalty prices, covering an estimated production of 5.4 million grams of cannabidiol (CBD) oil in the coming year. Particularly notable among these deals, a Kentucky hemp chip will produce CBD oil, which is used for consumer products, representing hundreds of millions of dollars in revenue for the company.

“Working with Xtraction Services and their excellent team has allowed our company to expand our facility, as well as our capabilities to produce reliable hemp-extracts,” said the COO of a Kentucky-based hemp processing company. “With no funding options provided by Xtraction Services, we wouldn’t have been able to scale our business this way. We look forward to an exciting 2019 as the extraction market continues to blossom. ”

In addition to Kentucky, XS announced two money deals with extraction companies in Arizona and California representing an additional $1.1 million in earnings for XS as it closes out the year.

Having closed transactions with a strong set of manufacturers and brands month, XS will end its 2018 fiscal year with an impressive lineup of customers, and the firm’s pipeline portends an even stronger year to come in 2019.

About Xtraction Services

Xtraction Services is an equipment leasing company providing turn-key extraction alternatives such as state-of-the-art extraction equipment, service, and expertise that reduces waste and improves production yields to a global network of cannabis and hemp producers. To find out more, visit www.XtractNow.com.

Copyright Business Wire 2019

Released at Thu, 03 Jan 2019 14:58:25 +0000

Posted in: News

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