Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, has provided a corporate update regarding its cannabis, functional mushroom and psilocybin business operations. The update notes that, in spite of COVID-19, its Pemberton, British Columbia facility is fully operational and in daily production. The company is focused on scalable entry into the U.S. market through a partnership with an Oregon-based, multistate operator (“MSO”). The company intends to produce its own branded products as well as white label products. In Canada, the company is ramping up production for delivery of its first orders of Pure Pulls and Pure Chews to the provincial distribution networks. White labeling is also building momentum for the company in Canada. Pure Extracts’ involvement in the functional and psychoactive mushrooms space is also seeing significant progress. The company launched its functional wellness line of products with its Reishi and Maitake offerings; a Lion’s Mane product is scheduled for release this quarter. In addition, the company is actively involved in research and development within the psychoactive mushroom space. Because psychedelic biomass is highly regulated in Canada, the company’s main challenge in this area is obtaining product for R&D. With that in mind, PULL entered an agreement with ShroomBloom, a British Columbia-based psychedelic mushroom cultivator, to assist in providing us with product that meets Health Canada requirements. The company is also working with Psyence Group (CSE: PSYG), which is studying the use of psilocybin in palliative care. “Although COVID-19 has lengthened our sales cycle somewhat, we are now enjoying renewed interest from producers and brands looking for new opportunities and partnerships,” said Pure Extracts CEO and director Ben Nikolaevsky in the press release. “We are all extremely excited to be working together to unlock the potential value of what could soon be a continent-wide industry and an opportunity totally unique to our lifetime.”
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About Pure Extracts Technologies Corp.
Pure Extracts features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. On Sept. 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act. In addition, the company’s stock began trading on the Canadian Securities Exchange (“CSE”) on Nov. 5, 2020. For more information about the company, please visit www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://nnw.fm/PULL
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