- Pure Extracts Technologies trading on CSE under symbol PULL
- Company runs first oil extraction, distillation under new licenses
- PULL products highly desired by provincial dispensaries as consumers gravitate to FSO
An emerging leader in extraction, Pure Extracts Technologies (CSE: PULL) began trading on the Canadian Securities Exchange (“CSE”) earlier this month under the symbol ‘PULL’. The plant-based extraction Company focuses on cannabis, hemp, and functional mushroom sectors and uses its proprietary CO2 extraction methodology to obtain full-spectrum oil (“FSO”) from cannabis and hemp biomass.
“We are pleased to have listed on the Canadian Securities Exchange as a significant first step towards Pure Extracts’ continual expansion within the emerging extraction space,” said Pure Extracts’ CEO Ben Nikolaevsky. “There currently is a tremendous opportunity for growth in consumer natural health products, for which we plan on playing a pivotal role within the supply chain mechanism by providing full spectrum oil products for the cannabis, hemp and functional mushroom space.”
In a letter to shareholders, Nikolaevsky called the CSE listing a “major milestone” that gives the Company’s shareholders liquidity in the public markets and the Company access to capital. In that same letter, he noted that Pure Extracts recently received its Standard Processing license from Health Canada. “We have spent the last 6 weeks commissioning our equipment for commercial production,” he said. “On Nov. 4th, we ran our first oil extraction and distillation under our licences. We are super excited about our first trial run.”
Nikolaevsky noted that Pure Extracts was running required samples over the coming weeks to “apply for our Sales license with Health Canada, which will allow us to bring our vape brand, Pure Pulls and our edibles brand, Pure Chews to the consumer market. Our products are highly desired by the provincial dispensaries as consumers are gravitating to full-spectrum oil (‘FSO’), which we specialize in.”
“Pure Extracts anticipates starting its extraction tolling business in December with its first batch being scheduled for extraction early in the month”, said Nikolaevsky. In addition, now that the Company can provide samples, it is bidding on several contracts in the white label arena. “Although the Health Canada approval took longer than we planned for, we believe we can capture some meaningful volumes in the white label area into Q1 2021,” he said.
In addition, Pure Extracts is entering the functional mushroom space “We intend to launch these products in Q1 from an online portal that we are developing. Functional mushrooms have been identified as the new ‘wonder’ product in the wellness space and have been rapidly growing in popularity, so this is a very exciting move for us,” he noted.
Pure Extracts Technologies Inc., headquartered in Pemberton, British Columbia, is a plant-based extraction Company with a new vertical in functional mushrooms. The Company is positioned to be a successful extraction Company and a leader in the rapid development and commercialization of functional mushroom products.
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://ibn.fm/PULL