Pure Extracts Sells First Shipment of Cannabis Oil Extracts to German Pharma Company

Rhea-AI Summary

Pure Extracts Technologies Corp (CSE: PULL, OTC: PRXTF) announced its first sale of cannabis oil extracts to a German pharmaceutical company. The extracts, consisting of 65% pure THC full spectrum oil and 85% pure THC distillate, were derived from EU-GMP certified cannabis. This initial transaction aims to establish longer-term supply agreements in Germany, a key European market, and supports continued expansion into other European countries. CEO Ben Nikolaevsky expressed optimism about the opportunities in the European market for their products.

Positive

• First sale of cannabis oil extracts to a German pharmaceutical company, indicating market acceptance.
• Establishment of an entry point into Germany, Europe's significant market for medicinal cannabis.
• Potential for longer-term supply agreements in Germany and expansion into other European countries.

Negative

• None.

VANCOUVER, British Columbia, March 11, 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 sold its first batch of cannabis oil extracts to a German pharmaceutical company.

Pure Extracts purchased Canadian grown, EU-GMP certified, dry cannabis flower and extracted it into 65% pure THC full spectrum oil (FSO) and into 85% pure THC distillate. These extracts will be further processed in Germany into an ultra-pure form of THC for medicinal purposes.

This initial sale will pave the way for longer term supply agreements into Germany, Europe’s most important market and the Company plans to continue seeking export opportunities for its products in other European countries wherever they can be legally sold.

Pure Extracts CEO, Ben Nikolaevsky, remarked, “It is gratifying to have had our concentrates selected by a German pharmaceutical company for use in their medical products. We are excited about the entire European market opportunity for our extracts.”

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.

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 did Pure Extracts Technologies Corp announce on March 11, 2021?

Pure Extracts announced the sale of its first batch of cannabis oil extracts to a German pharmaceutical company.

What type of products did Pure Extracts sell to Germany?

Pure Extracts sold 65% pure THC full spectrum oil and 85% pure THC distillate derived from EU-GMP certified cannabis.

What are the future plans for Pure Extracts in Europe?

The company aims to establish longer-term supply agreements in Germany and explore export opportunities in other European countries.

What is the significance of the sale to a German pharmaceutical company for PRXTF?

The sale marks an important step in entering the European medicinal cannabis market, potentially impacting PRXTF's growth and revenues.

Who is the CEO of Pure Extracts Technologies Corp?

Ben Nikolaevsky is the CEO of Pure Extracts Technologies Corp.