Pure Extracts Receives Purchase Order for a New Listing of High-Potency Vape Carts from the Ontario Cannabis Store

Rhea-AI Summary

Pure Extracts Technologies Corp (CSE: PULL) (OTC: PRXTF) has received its largest purchase order from the Ontario Cannabis Store (OCS) for its new high-potency vape product, 9 lb Hammer, which will be available in August. This vape cartridge contains up to 90% THC and is part of a range of products that also includes CBD and THC gummies. The demand for this product is high, indicating a favorable market response, while the new listing represents a significant milestone for the company's expansion in Ontario's competitive cannabis sector.

Positive

• Received largest purchase order by dollar amount and unit count from Ontario Cannabis Store.
• Launch of high-potency vape product 9 lb Hammer with up to 90% THC.
• Strong consumer demand for refined THC distillate products.
• Successful expansion of branded product line.

Negative

• None.

VANCOUVER, British Columbia, June 28, 2022 (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 Extracts Manufacturing Corp., has received a purchase order (PO) from the Ontario Cannabis Store (OCS) for its new, high potency, 1g vape carts. This Pure Pulls^TM branded product called 9 lb Hammer will be available in August for purchase through licensed, private retailers throughout the province of Ontario, and through the OCS’ online store.

This new distillate vape listing with its up to 90% THC potency and botanical terpenes has been created by Pure Extracts from its intellectual property consisting of 30+ proprietary formulations and will compliment the Company’s 1g full spectrum oil (FSO) CBD Blend vapes and 1g FSO THC GSC vapes that were previously listed by the OCS. Pure Extracts’ other OCS listings are Pure Chews edible Fire Burst THC gummies and Pure Chews edible CBD 100mg gummies.

With a trend towards higher potency cartridges as consumer preferences mature, demand for Pure Pulls 9 lb Hammer is strong across Canada as this refined THC distillate offers a strong, smooth and enjoyable experience to the consumer while generating high margins for the Company.

Pure Extracts’ CEO, Ben Nikolaevsky, remarked, “We are excited about receiving our largest ever PO by both dollar amount and unit count. And it’s especially gratifying to have received this PO from the OCS, in the largest and most competitive provincial cannabis market in Canada. This marks another successful milestone in the expansion of our line of branded products.”

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. Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act on September 25, 2020, and its Sales Amendment on July 19, 2021. The Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020.

Find out more at https://pureextractscorp.com/

Or contact:
Pure Extracts Investor Relations
Tel: +1 604 493 2052
info@pureextractscorp.com    

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

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. 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 from supply agreements, 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.

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

FAQ

What is the significance of the purchase order received by Pure Extracts on June 28, 2022?

On June 28, 2022, Pure Extracts received its largest purchase order from the Ontario Cannabis Store, marking a critical milestone for the company and its growth in the cannabis market.

When will the new vape product <b>9 lb Hammer</b> be available for purchase?

9 lb Hammer will be available for purchase in August 2022 through licensed retailers and the Ontario Cannabis Store.

What is the potency of the new vape cart launched by Pure Extracts?

The new vape cart, 9 lb Hammer, has a potency of up to 90% THC, catering to the growing consumer demand for high-potency cannabis products.

How does the new listing affect Pure Extracts' product line?

The new listing of 9 lb Hammer complements Pure Extracts' existing products like the 1g full spectrum oil CBD Blend vapes and gummies, enhancing its portfolio in the cannabis market.

What is the market expectation for Pure Extracts' new THC vape product?

There is strong demand for the 9 lb Hammer THC vape, reflecting a trend towards higher potency cartridges as consumer preferences evolve.