Pure Extracts Technologies (CSE: PULL), a plant-based extraction company, has begun build-out work on the fourth unit in is extraction facility; in addition, the company is preparing to submit application to Health Canada requesting a dealer’s licence under the Controlled Drugs and Substances Act (“CDSA”), the government entity that provides the framework for legal access to controlled substances, including the control and regulation of production, distribution and sale of psilocybin. Based on guidelines, a company must have a Health Canada-issued licence in order to conduct business with controlled substances. A license could allow Pure Extracts to procure controlled substances; research and manufacture controlled substances, including psilocybin and psilocin; and conduct business-to-business and pharmacy sale of controlled substances. “As a plant-based extractor bringing functional mushroom products to market in Q1 2021, we are very excited to be building-out our facility for our move into the controlled substances world of psychedelics,” said Pure Extracts CEO Ben Nikolaevsky in the press release. “It’s great to have space adjacent to our cutting-edge facility which is built to Health Canada standards and to know that this space will also have the same high standards of construction that Pure Extracts prides itself on.”
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About Pure Extracts Technologies Corp.
Pure Extracts was incorporated under the BCBCA and has its offices and operations in Pemberton, British Columbia. On Sept. 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act. On Nov. 5, 2020, Pure Extracts began trading on the CSE under the symbol PULL (“PULL”). Pure Extracts is undertaking the operations of toll processing, white labelling, and developing its own private label of products incorporating its full spectrum THC- and CBD-based extracted oils. Additionally, Pure Extracts is presently expanding its business to include functional mushrooms extraction by working on processes compatible with its existing infrastructure. Pure Extracts has a C02 extraction facility built to European Union GMP standards and intends to seek EU GMP certification of its operations allowing it to export its products for sale in Europe where such products are legal. For more information about the company, please visit www.PureExtractsCorp.com.
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