Pure Extracts Opens Its Functional Mushroom Direct-To-Consumer Amazon Store

Rhea-AI Summary

Pure Extracts Technologies Corp. (CSE: PULL, OTC: PRXTF) announced the launch of its online store on Amazon, marking its first sales in the US and Canada. The company's subsidiary, Pure Mushrooms Corp., is selling Reishi and Maitake formulations to meet growing consumer demand for functional mushroom wellness products amid the COVID-19 pandemic. Priced at $19.97 for 90 capsules, a Lion’s Mane product will be launched soon. Pure Mushrooms is expected to significantly contribute to revenue growth in 2022 as the company expands its mushroom extraction facility.

Positive

• Launch of e-Commerce store on Amazon enhances brand visibility.
• First sales in the US and Canada demonstrate market interest.
• Significant consumer demand for functional mushroom products projected to drive revenue growth in 2022.

Negative

• None.

VANCOUVER, British Columbia, May 12, 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 its wholly owned subsidiary, Pure Mushrooms Corp., has opened its online, direct-to-consumer, e-Commerce store on the Amazon platform and is selling its Reishi and Maitake formulations.

Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited to be on Amazon, the largest online marketplace and the most powerful platform in the world for brand development, and to have made our first US and Canadian sales of our Pure Mushrooms products. The functional mushroom wellness market is experiencing robust sales as many consumers are trying to boost their immune systems in light of the COVID-19 pandemic. As we build-out the mushroom extraction section of our facility, we plan to bring more products to market.”

Pure Mushrooms formulations come in convenient gluten free vegan capsules and in addition to the Reishi and Maitake products currently available at US $19.97 for 90 capsule bottles, a Lion’s Mane formulation is expected to commence sales this summer. Given the dramatic rise in consumer demand for functional mushroom wellness products, Pure Mushrooms is expected to be a significant contributor the Company’s revenue growth in 2022.

Reishi mushrooms have been a staple in Eastern medicine for centuries and provide antioxidants, support for the immune system, help to increase energy and resistance to stress, and are often used to strengthen the body and nourish the heart in Traditional Chinese Medicine. Maitake mushrooms are widely used in the Japanese and Chinese cultures in foods and as a supplement, with perceived benefits in combating stress, supporting the immune system, with high antioxidants that benefit the heart and the brain. Lion’s Mane is thought to boost cognitive health and power, provide memory support and enhance mental clarity.

US products can be accessed via the following links:
https://www.amazon.com/dp/B08Y996NK2?ref=myi_title_dp , https://www.amazon.com/dp/B08Y99QKTT?ref=myi_title_dp

Canadian products are expected to be available online within 1 to 2 weeks.

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

About Pure Extracts (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)

Pure Extracts Technology Corp. 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.

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 US expansion and the future plans and objectives of Pure Extracts’, are forward-looking statements and involve risks and uncertainties. A number of factors could cause actual events, performance or results to differ materially from what is projected in forward looking statements. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under “Risk Factors” in the Company’s Annual Information Form. The Company does not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws.

This news release contains information about potential sales revenue, which may be considered as disclosure of financial outlook under applicable securities laws. Such information is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraph. Specifically, estimated sales revenue which may be derived from supply contracts has been calculated based on current wholesale prices and assume, among other things, that the Company will be able to find buyers for its products. Financial outlook contained in this news release was made by management as of the date of this news release and was provided for the purpose of providing readers with an understanding of the potential revenue which may be derived from supply agreement recently entered into by the Company, and are not an estimate of profitability or any other measure of financial performance. Readers are cautioned that the financial outlook contained in this document should not be used for purposes other than for which it is disclosed herein.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/5b09ad70-13fa-4a6e-9571-2de0ce0d9098

https://www.globenewswire.com/NewsRoom/AttachmentNg/d19a9436-3e0f-44a0-9e9e-f12151798d49

FAQ

What products are being sold by Pure Extracts on Amazon?

Pure Extracts is selling Reishi and Maitake formulations on Amazon.

What is the expected impact of launching the e-Commerce store on Pure Extracts' revenue?

The launch is expected to significantly contribute to revenue growth in 2022 due to rising consumer demand.

When will Lion's Mane products be available for purchase?

Lion's Mane products are expected to commence sales this summer.

What is the stock symbol for Pure Extracts Technologies Corp.?

The stock symbol for Pure Extracts Technologies Corp. is PRXTF.

Where can I find Pure Extracts products online?

Pure Extracts products can be found on Amazon for US customers, with Canadian products expected to be available soon.