KRTL Holding Group Inc. (OTCMKTS:KRTL) announced on September 20, 2022, that its wholly owned subsidiary, KRTL Biotech has made progress regarding the strategic alliance with ENTEXS Corporation.
Trading Data
On Tuesday, KRTL stock ended flat at $0.0700 with more than 345.04K shares, compared to its average volume of 231.42K shares. The stock moved within a range of $0.0637 – 0.1148 after opening trade at $0.1148.
Krtl Biotech And Entexs Corporation Accelerate Alliance At Mjbizcon And In South Korea Initiatives
KRTL is set to join ENTEXS at MJBizCon Las Vegas in November 2022 to unveil the final design of their mobile extraction unit. It will be a live demonstration that shows conference-goers an up-close look at the closed-loop, proprietary technology in action with details regarding the production and operation of the ENTEXS Mini 9 extraction system. It is a slightly smaller version than the system to be used in the mobile extraction lab.
KRTL will also talk about some of its planned psilocybin-based formulated products to launch into the newly legalized Oregon Psilocybin Market, set to kick off in early 2023. The KRTL-ENTEXS strategic alliance signed earlier in the month has been amplified and sped up as ENTEXS has already been conducting R&D on the extraction of psilocybin and made their work available to KRTL with proprietary technology customized and optimized for psilocybin extraction. This functionality will roll out with the KRTL mobile extraction lab as it goes live, creating a full-suite solution supporting THC, CBD (among other cannabinoids), and now psilocybin.
KRTL is also working in South Korea under the Hemp Regulation-Free Zone; having been approved as a foreign advisor and having psilocybin research approval by the MFDS. The company is set to introduce critical technologies as part of the KRTL-ENTEXS alliance, like THC Remediation. It specifically targets in order to eliminate THC while retaining CBD and most other broad-spectrum cannabinoids in the finished distillate. Thus, manufacturers can make products of varying CBD concentrations without the psychoactive side effects.
Key Quote
“MJBizCon has grown to be an industry staple, anyone who’s anyone will be there, and we have prime floor space to show off what our ENTEXS extraction technology can do. Having KRTL join us to demonstrate their plans for the mobile extraction rollout strategy and what they’re doing in the psilocybin space regarding planned formulation is an exciting prospect and something we’re thrilled to be a part of,” said Emil Bayan, COO of ENTEXS.
Technical Data
KRTL stock is trading above the 20-Day and 50-Day Moving averages of $0.0558 and $0.0458 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0355.
