Pure Extracts Technologies Corp ( CSE: PULL) CORPORATE UPDATE
259Pure Extracts Technologies Corp ( CSE: PULL) CORPORATE UPDATE - RICH TV LIVE - NOVEMBER 19, 2020 - Pure Extracts Technologies Corp . ( CSE: PULL) (“Pure Extracts” or the “Company”), began trading on the Canadian Securities Exchange (the “ CSE ”) on November 5, 2020 under the stock symbol ‘PULL’, and is pleased to provide this corporate update to shareholders and interested investors. #pureextracts #pull #richtvlive
About the Company
Pure Extracts is a plant-based extraction company specializing in cannabis, hemp and mushroom products. The Company has a new state-of-the-art facility, located about 20 minutes north of Whistler, BC in the town of Pemberton. The facility is built to European Union GMP standards, and the Company intends to seek EU-GMP certification of its operations allowing it to export its products for sale in Europe where such products are legal.
Pure Extracts holds a Standard Processing License under the Cannabis Act granted by Health Canada on September 25, 2020 to Pure Extracts Manufacturing Corp., the Company’s wholly-owned subsidiary. Pure Extracts does not grow any biomass itself, but simply purchases cannabis and hemp in bulk from Licenced Producers (“ LPs ”) on the wholesale market.
The Company is undertaking the operations of toll processing and white labelling for LPs who lack the extraction expertise and necessary expensive equipment, and is developing its own private label of products under its ‘Pure Pulls’ brand, incorporating its full spectrum THC and CBD based extracted oils (“ FSO ”). This branded product, including vape pens and edibles, should be for sale in licensed dispensaries in multiple provinces by late Q1 2021.
Led by Ben Nikolaevsky, the management team at Pure Extracts has experience in all facets of the cannabis industry including over 5 years of volatile plant extraction, new product development with over 30 proprietary vape pen formulations, large-scale facility operations, licensing of US brands for the Canadian and international markets, in-house branding, marketing and national sales.
Mr. Nikolaevsky holds over a decade of experience in corporate leadership roles across the natural products, agriculture and cannabis sectors. Under his recent leadership as President & CEO of Natura Naturals Inc., a private Canadian cannabis Licensed Producer, the company was acquired by Tilray Inc. Prior to Natura, he was president & CEO of Blue Goose Capital Corp. Mr. Nikolaevsky served as Market Vice President, National Accounts at CIBC and as Chief Credit Officer & Capital Markets Manager at IBM Global Financing Canada. Mr. Nikolaevsky holds a B.A. (Economics – York University) and is a Certified Financial Auditor (Commercial Finance Association, New York, NY).
Brand Expansion
Pure Extracts is already expanding its business to include mushroom extracts by working on functional mushroom extraction processes compatible with its existing infrastructure. The Company believes that there exists a significant opportunity for it to become an important extraction partner for the commercialization of new functional mushroom products designed with purity and consistency in mind. To that effect, Pure Extracts is also looking to eventually enter the psychedelic mushroom market as an additional business model for its overall extraction market penetration strategy. The functional ‘Pure Mushrooms’ branded products should be available for direct-to-consumer sales via the Company’s e-Commerce portal by the end of Q1 2021.
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