Pure Extracts Agrees to Licensing deal with Taste-T, LLC the US manufacturer of Fireball Cannabis Gummies

Rhea-AI Summary

Pure Extracts Technologies Corp (CSE: PULL) (OTC: PRXTF) has entered a licensing agreement with Taste-T, LLC to distribute cannabis gummies in Canada. The deal grants exclusive rights for Canada and includes first rights in other countries. Taste-T's custom manufacturing machine will be operational at Pure Extracts’ British Columbia facility, allowing the company to sell products under the 'Pure Chews' brand in compliance with Health Canada regulations. This partnership positions Pure Extracts to leverage a branded U.S. cannabis product for global export.

Positive

• Exclusive licensing agreement with Taste-T, enhancing product offerings.
• Access to Taste-T's established branded cannabis gummies.
• Potential for global market expansion from Canada.
• Health Canada compliant format for product distribution.

Negative

• None.

VANCOUVER, British Columbia, Feb. 15, 2021 (GLOBE NEWSWIRE) -- Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts” or the “Company”), a plant-based extraction company focused on cannabis, hemp and the rapidly emerging functional mushroom sector, is pleased to announce its licensing deal with U.S. based Taste-T, LLC (“Taste-T”).

Taste-T utilizes a proprietary manufacturing system to produce and package branded cannabis gummies and sells them in multiple U.S. states including Nevada, Massachusetts, Michigan and Oklahoma. Their famous products include Margarita Chill and Fireball Cinnamon and come in unique blister packaging.

Pure Extracts has signed an agreement with exclusive rights for Canada and first rights to other countries around the world. Included in the agreement is the delivery to Pure Extracts’ British Columbia facility of one of Taste-T’s custom built gummie manufacturing machines, certified to Canadian standards. Pure Extracts will be selling these products in a Health Canada compliant format in licensed dispensaries throughout Canada under their ‘Pure Chews’ brand of edible products.

Pure Extracts’ CEO, Ben Nikolaevsky, remarked, “Taste-T’s gummy line up represents a great opportunity for our Company to leverage one of the few U.S. cannabis products that can legitimately be call a ‘brand’. And of course, as a Canadian company, Pure Extracts is ideally suited to export this product to numerous countries around the world.”

About Pure Extracts (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)
The Company features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. On September 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act and the Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020. Find out more at https://pureextractscorp.com/.

For further information please contact Empire Communications Group at (604) 343-2724.

ON BEHALF OF THE BOARD
“Ben Nikolaevsky”
Ben Nikolaevsky
CEO and Director

The CSE has neither approved nor disapproved the contents of this press release.

This information release contains certain forward-looking information, including about the timing and completion of the Private Placement, the proposed use of proceeds of the Private Placement, the filing of a preliminary short form prospectus, the receipt of CSE approval and the listing of the Warrants. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What is the significance of the licensing agreement between Pure Extracts and Taste-T?

The agreement allows Pure Extracts to distribute branded cannabis gummies in Canada and has potential for expansion into international markets.

What products will Pure Extracts be selling under the licensing agreement?

Pure Extracts will sell cannabis gummies branded as 'Pure Chews' in licensed dispensaries across Canada.

How does this deal impact Pure Extracts' market position?

This partnership enhances Pure Extracts' market position by allowing access to a recognized U.S. cannabis product line, providing a competitive advantage.

What is the stock symbol for Pure Extracts?

Pure Extracts trades under the stock symbol 'PRXTF' on OTC markets.

Where will the manufacturing of gummies take place for Pure Extracts?

Manufacturing will take place at Pure Extracts’ facility in British Columbia, equipped with a custom-built manufacturing machine from Taste-T.