- Pure Extract Technologies focuses on extraction of volatile plant molecules
- Company has recently announced entry into functional mushroom market, providing extraction services
- Pure Extract applying for Natural Health Products site license with Health Canada, which will help ensure that high quality standards will be upheld while also lending Company sales entry into foreign markets
- Company is set to focus on development of tinctures, soft-gel products, followed by move into creating beverage formulations as well as oral and nasal sprays
Pure Extract Technologies, (“Pure Extracts”) a Pemberton, British Columbia-domiciled private plant extraction company, has a successful history as the supplier of choice for companies requiring extraction services for product development. Pure Extracts has leveraged its years of experience in the extraction of volatile plant molecules as well as its technical competence in creating multiple successful CPG products and brands, both of which have afforded the firm a significant competitive advantage as it seeks to augment its strategic focus by partnering with companies seeking to develop new and innovative mushroom-based products. With Pure Extracts now poised to enter the commercial cannabis sector, as well as a new vertical in functional mushrooms, the Company has seized the opportunity to reveal its upcoming business development strategy going forward (https://ibn.fm/D7upV).
As Pure Extracts positions itself to become the premier commercialization and manufacturing partner for functional companies going forward, the Company plans to center its initial product lines on functional mushroom products. In its bid to do so, the Company is applying for a Natural Health Products site license with Health Canada, which, once received, will enable Pure Extracts to begin producing clinical trial samples in its purpose-built Whistler, British Columbia-based extraction facility. As the Company adheres to EU Good Manufacturing Practices (“GMP”), its focus on quality processes will help ensure that oil will be extracted to the highest possible quality.
Canada’s ability to easily export around the world coupled with Pure Extracts’ GPP (Good Production Practices) facility makes Pure Extracts a natural partner for companies involved within the psychedelic and functional product sectors. Pure Extracts has reportedly already met with some success in the field, having signed several NDAs with functional product companies seeking to explore joint development strategies for prospective product launches in the fourth quarter of 2020.
Functional mushrooms are increasingly being used in a wide variety of healthcare and pharmaceutical products. The application of these mushrooms as a functional ingredient in the medical industry is helping propel further growth within the sector, with functional mushroom-derived molecules increasingly employed within health supplement formulations. As testament to their growing popularity, a recent study on the functional mushroom market carried out by research firm Reportlinker.com forecasts the sector to grow at an impressive 8.04% CAGR over the period between 2019-2025 (https://ibn.fm/6X5t1).
Pure Extracts’ functional and psychedelic product expansion plans are set to be strategically rolled out in three distinct phases. Initially, the Company will focus its efforts on functional mushroom extracts used as active ingredients in the development of tinctures and/or soft gels. By the fourth quarter of 2020, the Company anticipates that its extraction efforts will also encompass developing products utilized in the manufacture of beverage formulations as well as in the creation of nasal and oral sprays.
In the second half of 2021, Pure Extracts will look towards assisting in the extraction of psilocybin, an active substance commonly found in hallucinogenic mushrooms which has recently been trialed as an experimental treatment for neurological conditions such as depression (https://ibn.fm/HdYnL). The Company will seek to simultaneously bolster its research into the psychedelic mushroom space, an industry experiencing growing interest due to shrooms’ ability to stimulate or suppress the activity of neurotransmitters they are chemically similar to, causing users to experience a number of different effects, including euphoria (https://ibn.fm/O0Ct3).
For more information, visit the company’s website at www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to Pure Extract Technologies are available in the company’s newsroom at http://ibn.fm/Pure