- Production underway for 25,000 vape cartridges using PULL full spectrum oil formulations, including Super Lemon Haze, Grand Daddy Purple and Girl Scout Cookies/GSK
- Company estimates retail sales revenue for this production run will be approximately $750,000
- 60% of respondents in StatCan’s Canadian 2020 Cannabis Survey that used vaporizer for cannabis in the last 12 months used oil/extracts
“Cannabis 2.0,” the colloquial term for legalization of cannabis derivatives in Canada late in 2019, represented the outset of new trends in how people consume cannabis products with the accessibility of goods like drinks and vape products. While some companies have devoted considerable resources to in-house extraction technologies, the market is still relatively scant for certified extractors that can meet demand for concentrates from cannabis biomass. This is the focus of Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), which just experienced a milestone moment with commencement of production of 25,000 vape cartridges for the Canadian retail market.
The Company operates a 10,000 sq. ft., Health Canada licensed facility in Pemberton, British Columbia, constructed to EU-GMP standards, aligning Pure Extracts for international distribution. The bespoke facility houses equipment for cutting-edge CO2 and ethanol extraction capabilities and processes, with phase 2 plans to build-out underutilized space into an R&D and production center for functional and psychedelic mushrooms. The Company intends to become a go-to company in extraction for multiple markets, with capacity to process both cannabis and hemp biomass as well as functional and psychedelic mushrooms in order to satisfy clients’ needs.
In Statistic Canada’s Canadian 2020 Cannabis Survey that included nearly 11,000 respondents, a new question was posed. Of the people that used a vaporizer to ingest cannabis in the last 12 months, 60% said they used cannabis oil/extract (https://ibn.fm/czeYf).
Demand for Pure Extracts’ Pure Pulls branded 510 Vape cartridges is strong in the provincial markets in Canada. 510 cartridges are the most popular on the market today and so named to describe the threading that attaches the cartridge to the vape battery. The Company has teamed up with a leading global manufacturer of premium cartridges that dovetails with Pure Extracts’ expectations for the highest quality components and performance when paired with its oil concentrates.
The production plans call for the cartridges to be filled with selections from the Company’s proprietary library of more than 30 full spectrum oil (“FSO”) formulations, including Super Lemon Haze, Grand Daddy Purple and Girl Scout Cookies/GSK. Management estimates retail sales from the production run to be approximately $750,000.
“We are excited about preparing to ship our first vape cart orders to the provincial distribution channels,” said Pure Extracts CEO Ben Nikolaevsky in a recent press release (https://ibn.fm/qCNB6). “We have created the high quality FSO vape products that consumers now demand and believe that we will quickly build brand loyalty with both legacy and new entrants in the vape space.”
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