Pure Extracts Commences Initial Production Run of 50,000 Gummie Packs for Provincial Distribution

Rhea-AI Summary

Pure Extracts Technologies Corp (CSE: PULL, OTC: PRXTF) has initiated production of about 50,000 Pure Chews edible gummy packs, targeting strong demand in British Columbia, Alberta, Saskatchewan, and Ontario. Revenue estimates for this production batch are around $200,000. The gummies, including 10 mg THC options, are produced using a proprietary manufacturing system from US-based Taste-T, LLC. The company also plans to launch non-THC pure CBD gummies. CEO Ben Nikolaevsky highlighted the anticipation of retail sales in May, aiming to replicate success seen in the US market.

Positive

• Commencement of production for 50,000 Pure Chews gummy packs.
• Expected revenue of approximately $200,000 from the current batch.
• Strong demand reported in four Canadian provinces.
• Utilization of a proprietary manufacturing system from a successful US partner, Taste-T.

Negative

• None.

VANCOUVER, British Columbia, April 14, 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, functional mushrooms and the rapidly emerging psychedelic sector, is pleased to announce that it has commenced production on approximately 50,000 Pure Chews edible gummie packs.

Demand for these types of products is strong in the 4 provinces (British Columbia, Alberta, Saskatchewan and Ontario) that the Company is targeting for its retail launch and revenue estimates associated with this batch are approximately $200,000. All the Pure Chews SKUs including the 10 mg THC packs of Fire Burst, Strawberry and Mango utilize a proprietary manufacturing system licensed from US based Taste-T, LLC (“Taste-T”), the manufacturer of Margarita Chill and Fireball Cinnamon products, to produce and package branded cannabis gummies that come in unique blister packaging.

Additionally, in the launch the Company plans to include 3 SKUs with varying levels of ultra-high potency CBD Pure Chews non-THC gummies.

Pure Extracts CEO, Ben Nikolaevsky, remarked, “May is going to be a very exciting month for us as we commence retail sales of gummies through our distribution partner. We plan to replicate the success that our licensing partner, Taste-T, is experiencing in US states including Nevada, Massachusetts, Michigan and Oklahoma. Our exceptionally pure products are in high demand and we have a range in potencies and flavours that consumers will certainly enjoy.”

About Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)
Pure Extracts 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 and ir@empiregroupir.com.

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 news release contains forward-looking statements relating to the future operations of Pure Extracts, and the other statements are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of Pure Extracts, are forward-looking statements and involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of Pure Extracts include risks detailed from time to time in the filings made by Pure Extracts under securities regulations.

FAQ

What is the revenue estimate for Pure Extracts' gummy production batch PRXTF?

The revenue estimate for the current production batch of Pure Chews is approximately $200,000.

Which provinces is Pure Extracts targeting for its edible gummies PRXTF?

Pure Extracts is targeting British Columbia, Alberta, Saskatchewan, and Ontario for its retail launch.

When will Pure Extracts commence retail sales of its gummies PRXTF?

Pure Extracts plans to commence retail sales of the gummies in May.

What types of gummies is Pure Extracts producing for its launch PRXTF?

Pure Extracts is producing THC-infused gummies in flavors like Fire Burst, Strawberry, and Mango, as well as ultra-high potency CBD non-THC gummies.