CryoMass Announces Sale of First Production Model to be deployed in Canada

DENVER, May 14, 2024 (GLOBE NEWSWIRE) -- CryoMass Technologies Inc. (the “Company” or “CryoMass”) (OTCQB: CRYM), a pioneering leader in cryogenic systems for refinement of trichome-rich crops, today announced the sale of its first production model. As previously announced in January of this year, CryoMass entered into an agreement to sell up to five CryoSift Separators (“Units”). The transaction we are announcing today is the first of such Unit sales for CAD$1.62 million, which will be deployed in Canada, marking a significant milestone in the Company's growth trajectory.

Facilitated by a multi-year, multi-party Equipment Lease and Non-Exclusive Patent License agreement between CryoMass, a Special Purpose Vehicle (the buyer) and a Canadian cannabis and hemp operator (the lessee), this transaction enables CryoMass to actively introduce its patented biomass reduction and trichome refinement method and unique benefits to an established market. In addition to the revenue received from the sale of the Unit, CryoMass will receive a recurring revenue stream from processing fees for the life of the agreements. The buyer has 60 days to pay the amount due for the purchase of the Unit.

"Our strategic expansion into Canada's maturing cannabis ecosystem marks the launch of our innovative Equipment Leasing and Patent Licensing Program," said Christian Noël, CEO of CryoMass. "We are thrilled to unveil our CryoSift Separator production model and showcase its remarkable capabilities in driving cost savings, generating additional revenue, and delivering unparalleled operational efficiencies. This deployment represents a pivotal opportunity to demonstrate the transformative impact of our disruptive technology to additional customers in Canada who have eagerly awaited its integration into their businesses."

First Two-Skid CryoSift Separator Production Model

Building on eight years of extensive research and development, and over two years of rigorous testing, CryoMass has engineered a modular production model that enhances performance and versatility. Key enhancements include:

• A sectional shaft configuration for the Cryo Auger as a standalone biomass freezing solution for cultivators, improving serviceability, cleaning accessibility, and versatility. The innovative Cryo Auger combines freezing and milling capabilities into a single, efficient step, dramatically reducing biomass volume by 65%. This cutting-edge solution offers immediate storage cost savings, a first-of-its-kind advantage in the industry.
• A Biomass Separation and Refinement System divided into two sub-modules, enhancing system ergonomics and achieving higher throughput rates for end users.
  • Module #1 efficiently separates the biomass, preparing it for subsequent solvent-based extraction processes or further refinement in Module #2.
  • Module #2 refines the output from Module #1 by isolating the desired trichomes for solventless extract production.

This modular approach offers unparalleled flexibility, allowing cultivators and processors to tailor the system to their specific needs, from biomass reduction for storage and transportation cost savings to comprehensive trichome refinement tailored to different extraction methods and end-product requirements.