Pure Extracts Receives Sales Licence from Health Canada
Pure Extracts Technologies Corp (CSE: PULL) (OTC: PRXTF) has received approval from Health Canada to amend its license, enabling the sale of cannabis extract products to authorized distributors and retailers across Canada. This development allows Pure Extracts to fulfill existing purchase orders from several provinces directly, eliminating the need for intermediaries. CEO Ben Nikolaevsky highlighted that this approval supports the company’s growth plans, including its proprietary brands and white-label products, as recreational cannabis sales continue to rise.
- Approval from Health Canada to sell cannabis extract products directly to distributors and retailers.
- Ability to fulfill orders across all provincial and territorial jurisdictions in Canada.
- Expansion opportunities for proprietary and white-label products.
- None.
VANCOUVER, British Columbia, July 28, 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 Extracts Manufacturing Corp., has received approval from Health Canada to amend its license to permit the sale of cannabis extract products to provincially authorized distributors and retailers nationwide as well as to holders of licenses for the sale of medical cannabis extracts.
This approval is the result of an intensive review by Health Canada of Pure Extracts’ internal systems, processes, products and packaging. The Company’s purchase orders from British Columbia, Alberta, Saskatchewan and Ontario are currently being fulfilled by its distribution partner, thus having its own sales licence will allow Pure Extracts’ products to eventually reach all provincial and territorial jurisdictions across Canada without the help of an intermediary.
Pure Extracts’ CEO, Ben Nikolaevsky, remarked, “Our sales licence approval is the culmination of months of hard work and determination by our entire staff with their tireless concentration on quality and consistency. With sales of recreational products rising steadily as new Cannabis 2.0 products take hold in the marketplace, this approval paves the way for Pure Extracts to expand both our proprietary, in-house brands like Pure Pulls and Pure Chews as well as the other white label products that we are bringing to market.”
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 more information:
Pure Extracts Investor Relations
Tel: +1 604 493 2052
info@pureextractscorp.com
Forward Looking Statements
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 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 does the approval from Health Canada mean for Pure Extracts (PRXTF)?
How will the approval affect Pure Extracts' sales strategy?
What are the implications of Pure Extracts' sales license approval for investors?
When did Pure Extracts receive the license amendment approval?
