Langley, BC / Stockwatch - Adastra Labs Holdings Ltd. (CSE: XTRX) (Frankfurt: D2EP) ('Adastra Labs' or the 'Company) is pleased to announce that further to its press release dated March 23, 2021, the Company is proceeding to complete its name change to Phyto Extractions Inc. ('New Name') and consolidation. As part of the process, the Company has changed its name with the corporate registry, and the change will not be finalized with respect of listing and trading until effective April 7, 2021 pending compliance with Canadian Securities Exchange ('CSE') filing and effectiveness timelines and to match the effective date of the name change and consolidation for listing and trading purposes. There will be no change to the Company's trading symbols.

The Company's consolidation of its common shares will consolidate each 3 current common shares of the Company to 1 post consolidation common share under the New Name . Fractional shares as the result of the consolidation will be rounded up. The record date for the consolidation is April 8, 2021 with an effective date of April 7, 2021. Shareholders will receive a letter of transmittal from the Company's transfer agent with instructions on how to exchange their current share certificates with new share certificates or direct registration statements (also known as, DRSs) of the Company reflecting postconsolidation/post-name change shares. A copy of the letter of transmittal will also be posted on the Company's SEDAR profile accessible at www.sedar.com. The Company's new postconsolidation/post-name CUSIP and ISIN will be 71945P103 and CA71945P1036, respectively.

About Adastra Labs

Adastra Labs is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction, no cultivation), Sales (extracts, topicals, and edibles) and Analytical Testing Laboratory (Chemia Analytics) facilities. Chemia Analytics is a wholly owned subsidiary of the Company. Adastra Labs also has an R&D license amendment pending Health Canada approval.

Contact:

J. Scott Munro

President

CEO & Director (Chairman)

Phone: (778) 715-5011

Email: scott@adastralabs.ca

Forward-Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forwardlooking information is based are reasonable, undue reliance should not be placed on the forwardlooking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release, includes those with respect of the name change, consolidation, and the private placement, and the development and future business opportunities of the Company as described in this press release; there is no guarantee whether the acquisition will occur or if it does, it will be on the terms currently disclosed, and there is no guarantee whether any such acquisition or other transaction will have a net positive effect for the Company's business or finances. All current and proposed transactions and corporate changes are subject to applicable laws including stock exchange policies, and terms and conditions of such transactions may change. There is also to guarantee that the Company's current business will perform as it has in the past. The Company's pending sales and R&D license applications are subject to Health Canada approval, and although Company's management believes that it will receive the approval, there is no guarantee that such approval would be granted or granted within the timeframes or terms currently expected. Information about Phyto Extractions was received by the Company from Phyto Extractions and to the Company's management's knowledge is believed to be true as of the date of this press release only. Forwardlooking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information or other information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, such as regulatory and business changes in the Company's industry. The reader is cautioned not to place undue reliance on any forwardlooking information contained in this news release. The CSE has not reviewed or approved of any contents of this news release.

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