Pure Extracts Ships Initial Edible Cannabis Gummies Order to British Columbia

Rhea-AI Summary

Pure Extracts Technologies Corp. (OTC: PRXTF) announced the shipping of its first order of THC and CBD edible gummies, branded as Pure Chews, to the British Columbia Liquor Distribution Branch. The gummies, featuring unique blister packaging, are expected to meet strong provincial demand. Utilizing a proprietary manufacturing system, the company aims to replicate the success of its U.S. counterpart, the Fireball Cinnamon gummies. The edible gummy sector is identified as a significant revenue contributor for Pure Extracts, with expectations for continued growth in the Canadian market.

Positive

• Initial order shipment of Pure Chews gummies indicates strong demand.
• Proprietary manufacturing system licensed from Taste-T, LLC enhances product appeal.
• High-quality cannabis extracts promise a competitive edge in the market.

Negative

• None.

VANCOUVER, British Columbia, Aug. 05, 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 and the rapidly emerging psychedelic sector, is pleased to announce that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has shipped its initial order of edible cannabis gummies via its distribution partner to the British Columbia Liquor Distribution Branch (LDB).

Demand for the Company’s Pure Chews branded THC and CBD gummies is strong within the provincial markets. All the Company’s 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, the manufacturer of the successful Fireball Cinnamon gummies, to produce and package branded cannabis gummies that come in unique blister packaging offering convenience and guaranteeing freshness. We anticipate that Fire Burst, like its US counterpart, will be one of the top selling gummies in the Canadian market.

“We are excited to have shipped our first order for Fire Burst cinnamon flavoured Pure Chews to the LDB, the wholesaler serving our home province of British Columbia,” said Ben Nikolaevsky, CEO. “The edible gummie business is a material revenue producer for Pure Extracts. With our proprietary manufacturing and packaging machine and our high-quality cannabis extracts, we have created the type of exceptional gummie products that consumers now demand.”

Find out more about cannabis products available in B.C. at https://www.bccannabisstores.com/

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. Health Canada, under the Cannabis Act, granted Pure Extracts its Standard Processing License 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/.

For more information:

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

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 is the significance of Pure Extracts Technologies' recent announcement regarding gummy shipments?

The shipment of its first order of Pure Chews gummies to the British Columbia Liquor Distribution Branch indicates strong market demand and potential for revenue growth.

What are the main ingredients in Pure Extracts' gummies?

The gummies contain THC and CBD, produced using a proprietary manufacturing system licensed from Taste-T, LLC.

What market does Pure Extracts target with its gummies?

Pure Extracts targets the Canadian market, particularly provincial markets, for its edible cannabis gummies.

How does Pure Extracts plan to compete in the edible cannabis market?

By utilizing a proprietary manufacturing system and high-quality extracts, Pure Extracts aims to deliver exceptional products that meet consumer demand.

What is the stock symbol for Pure Extracts Technologies?

The stock symbol for Pure Extracts Technologies is PRXTF.