March 3, 2021, Vancouver, British Columbia (GLOBE NEWSWIRE)-
. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) ("Pure Extract" or "Company") is a plant extraction company specializing in the field of cannabis, cannabis, functional mushrooms and the rapidly emerging psychedelic drugs. We are pleased to announce that its wholly-owned subsidiary Pure Extracts Manufacturing Corp. has ordered more than 30,000 vape cartridges and vape pens for the Canadian market.
These vape products are produced by a global manufacturer and follow the highest North American standards, and are expected to arrive at the company's factory in British Columbia in the first week of April. When choosing these products, consider the quality, fit and finish of their components, as well as their performance characteristics when combined with Pure Extracts essential oils. This timing coincides with Pure Extracts' recently announced retail distribution agreement to increase production capacity and submit more than 20 product SKUs to Health Canada for approval. The cartridges will be filled with some of the company's more than 30 proprietary full spectrum oil (FSO) formulations.
The company plans to target four provinces (British Columbia, Alberta, Saskatchewan and Ontario) for this type of concentrate, and the revenue from this shipment is estimated to be approximately 650,000. Canadian dollar.
Ben Nikolaevsky, CEO of Pure Extracts, said: “We are looking forward to building a stock of vape pens to prepare for retail through established provincial distribution channels. At the same time, we plan to launch Pure Chews brand CBD and THC edible gum products, and we have been We are steadily accumulating all the ingredients from oil extracts to condiments to our proprietary packaging."
Pure Extracts has a brand new, state-of-the-art processing facility located only 20 minutes north of Whistler in the world-famous British Columbia province. The construction of the custom facility complies with EU GMP standards and aims to export and sell products and formulas (including those currently restricted in Canada) to legally available European jurisdictions. On September 25, 2020, Health Canada granted Pure Extracts a standard processing license under the Cannabis Act, and the company’s stock began trading on the Canadian Stock Exchange (CSE) on November 5, 2020.
For more information, please contact Empire Communications Group at (604) 343-2724.
Chief Executive Officer and Director
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This press release contains forward-looking statements related to the future operations of Pure Extract. Other statements are not historical facts. Forward-looking statements are usually identified by terms such as "will", "may", "should", "expect", "expect" and similar expressions. All statements contained in this press release other than historical facts, including but not limited to statements regarding Pure Extracts' future plans and goals, are forward-looking statements and involve risks and uncertainties. Many factors may cause actual events, performance or results to differ materially from the expectations in the forward-looking statements. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot guarantee that actual results will be consistent with these forward-looking statements. Considering these risks, uncertainties and assumptions, investors should not rely excessively on these forward-looking statements. Whether actual results, performance or achievements meet the company's expectations and forecasts is subject to many known and unknown risks, uncertainties, assumptions and other factors, including those listed in the "risk factors" in the company's annual information sheet. The company does not undertake to update any forward-looking information except for the scope provided by applicable securities laws.
This press release contains information about the potential sales revenue of the supply agreement, which can be considered a disclosure of financial prospects under applicable securities laws. Such information should follow the same assumptions, risk factors, limitations and qualifications as described in the previous paragraph. Specifically, the estimated sales revenue that can be obtained from the supply contract is calculated based on the current wholesale price, assuming (among other things) the company can find a buyer for its products. The financial outlook contained in this press release has been made by management since the date of this press release, and its purpose is to inform readers of the potential revenue that may be generated by the company’s recent supply agreement, as well as estimates or financial performance that are not profitability. Any other measures of Readers are reminded that the financial outlook contained in this document should not be used for the purposes disclosed here.
Pemberton, British Columbia, Canada