Pure Extracts Technologies Corp. (CSE: PULL) Strengthens Oil Extraction Business, Ventures into Functional Mushroom Space

  • Pure Extracts carried out its initial oil extraction, distillation trials in early November, plans to commence extraction tolling services in December
  • Once Sales License is obtained from Health Canada, the Company plans to begin marketing its own ‘Pure Pulls’ branded cannabis derived product range
  • Pure Extracts will simultaneously seek to market Company’s white-labelling prowess, offering oil extraction capabilities to Licensed Producers currently operating in cannabis space
  • Company also announced its interest in joining functional mushroom sector, with its first products set to be launched in 1Q2021
  • Separately, Pure Extracts named Dwight Duncan to its Board of Directors

Pure Extracts Technologies (CSE: PULL), a plant-based extraction company focused on the cannabis, hemp, and functional mushroom sectors, has seen its business operations scale to new heights following the award of its Standard Processing license from Health Canada on September 25, 2020. The receipt of the license enabled Pure Extracts to begin producing THC and CBD extracts in its purpose-built extraction facility located near Whistler, British Columbia, whilst adhering to EU Good Manufacturing Practices (“GMP”)—a process which ensures that molecules will be extracted to the highest possible quality.

On November 4, Pure Extracts ran the first oil extraction and distillation trial under its license, in the wake of a six-week process during which the Company commissioned the equipment required for commercial production. The occasion marked the initial step of a trial required for the Company to apply for its Sales License with Health Canada, following which Pure Extracts will seek to begin marketing its own-branded Pure Pulls and Pure Chews products.

Simultaneously, the Company is also set to begin its extraction tolling business in December – a process through which biomass is converted into THC and CBD oil. Pure Extracts is set to specialize in the production of full-spectrum oil (“FSO”), a product which contains all the cannabinoids and other chemicals which naturally occur in the plant prior to extraction. With demand for full spectrum oil witnessing an exponential increase as of late, the Company revealed that it had bid on a number of contracts and anticipated capturing a meaningful amount of business by the first quarter of next year (https://cnw.fm/QwgBg).

Pure Extracts has sought to combine its oil extraction enterprise – which will consist of the Company’s extraction tolling business, white-label product manufacturing as well as the marketing of its own branded products with a new venture into the functional mushroom space. Functional mushrooms have increasingly been identified as a new ‘wonder’ product within the wellness space, gaining popularity for both their apparent health benefits and ability to help slow or even reverse certain diseases. The Company is exploring strategic relationships with established players in the North American sector and intends to launch its initial product range in the first quarter of 2021 through an online portal which is currently under development.

Pure Extracts has sought to combine its growing business prospects with a simultaneous focus on strengthening its management and corporate governance functions. The Company announced its appointment of Dwight Duncan, a strategic advisor to Canadian law firm McMillan LLP and former Member of the Ontario legislature where he served as Deputy Premier and Minister of Finance, to its Board of Directors.

“We are pleased to welcome Dwight Duncan to the Board of Pure Extracts” noted Chief Executive Officer Ben Nikolaevsky. “Dwight has tremendous experience in both government regulatory affairs and corporate finance, and we are looking forward to working closely with him as we build Pure Extracts into a preeminent global extraction company” (https://cnw.fm/NFEKl).

For more information, visit the company’s website at www.PureExtractsCorp.com.

NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://cnw.fm/PULL

About HempWire

HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.

To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.hempwire.com

Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/Disclaimer

Do you have a questions or are you interested in working with HW? Ask our Editor

HempWire (HW)
Denver, Colorado
www.hempwire.com
303.498.7722 Office
Editor@HempWire.net

HempWire is part of the InvestorBrandNetwork.

Archives

Select A Month

HempWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 303.498.7722