REPEAT - Pure Extracts Submits Application to Health Canada for Sales License

Rhea-AI Summary

Pure Extracts Technologies Corp (CSE: PULL) (OTC: PRXTF) has applied to amend its Health Canada license to allow sales of cannabis extract products to authorized distributors and retailers across Canada. The company recently signed a distribution agreement with a large Canadian Licensed Producer for its 'Pure Pulls' vape and 'Pure Chews' edible products. With 34 proprietary formulations of full-spectrum oil vape products and a new line of edible gummies, Pure Extracts aims for significant sales momentum upon receiving the amended license.

Positive

• Health Canada license amendment application enhances sales potential for cannabis products.
• Distribution agreement signed with a large Canadian Licensed Producer for increased market access.
• Development of diverse product portfolio with proprietary formulations in cannabis 2.0 offerings.

Negative

• None.

VANCOUVER, British Columbia, Feb. 23, 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 submitted an application to Health Canada to amend its license to permit the sale of cannabis extract products to provincially authorized distributors and retailers nationwide.

The Company recently announced a distribution agreement with a large Canadian Licensed Producer to distribute Pure Extracts’ vape and edible products through their established provincial distribution channels and thus, Pure Extracts expects to have significant sales momentum for its ‘Pure Pulls’ and ‘Pure Chews’ branded products by the time the Company receives its sales licence amendment from Health Canada.                                 

Pure Extracts is continuing to develop its portfolio of cannabis 2.0 products with emphasis on its 34 proprietary formulations of ‘Pure Pulls’ branded full spectrum oil (FSO) vape products and on its new line of ‘Pure Chews’ edible gummies being produced under licence from Taste-T, LLC, the manufacturer of Fireball cannabis gummies.

Pure Extracts CEO, Ben Nikolaevsky, remarked, “This milestone dovetails perfectly with our recently signed distribution agreement; we have all our bases covered now and we will quickly and efficiently get our vape and edible products to retail buyers across Canada .”

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 is the latest news about Pure Extracts Technologies Corp (PRXTF)?

Pure Extracts announced it has applied to amend its Health Canada license to sell cannabis extract products to authorized distributors and retailers.

When did Pure Extracts submit its application to Health Canada?

Pure Extracts submitted the application on February 23, 2021.

What products does Pure Extracts plan to sell?

Pure Extracts plans to sell cannabis extract products including vape and edible products under its 'Pure Pulls' and 'Pure Chews' brands.

How does the distribution agreement affect Pure Extracts' sales?

The distribution agreement with a large Canadian Licensed Producer is expected to provide significant sales momentum for Pure Extracts' products.

What are the proprietary products developed by Pure Extracts?

Pure Extracts has developed 34 proprietary formulations of full-spectrum oil vape products and a new line of edible gummies.