- PULL expands into EU through initial sale of cannabis oil extracts to German pharmaceutical company
- Sale to Germany expected to pave way for additional supply agreements throughout Europe
- Company orders first shipment of functional mushroom products for direct-to-consumer e-commerce portal, expects $15,000 gross monthly sales for each formulation
- PULL’s new state-of-the-art facility constructed to EU GMP standards for worldwide exports
With a focus on the cannabis, hemp, functional mushrooms and rapidly emerging psychedelic sectors, Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a Canadian plant-based extraction company, is steadily increasing its market share through the achievement of several important milestones. Along with the Company’s first shipment of functional mushrooms for its e-commerce portal, Pure Extracts has expanded into the European Union (“EU”) through an initial sale of cannabis oil extracts to a German pharmaceutical company.
Germany is one of the largest and most innovative economic markets in Europe (https://cnw.fm/Cw59s). Pure Extracts’ management expects the initial sale will lead to more long-term supply agreements and additional export opportunities to other EU countries where the Company’s products can be legally sold. With a focus on the medical cannabis sector, the Company purchases Canadian-grown, EU-GMP-certified, dry cannabis flower and extracts it into 85% pure THC distillate and 70% pure THC full spectrum oil (“FSO”) that can be processed into an ultra-pure form of THC for medicinal purposes.
“It is gratifying to have had our concentrates selected by a German pharmaceutical company for use in their medical products,” said Pure Extracts CEO Ben Nikolaevsky (https://cnw.fm/56NXa). “We are excited about the entire European market opportunity for our extracts.”
Along with prospective domestic and international supplier agreements, Pure Extracts will also sell its functional mushroom wellness products online through its direct-to-consumer e-commerce portal. The Company recently ordered its first shipment of functional mushrooms from its British Columbia co-packer and plans to have Reishi and Maitake formulations available in April followed by the addition of a Lion’s Mane formulation by the end of Q2 with expected gross sales of $15,000 per month for each product.
“We are excited to be ordering the first Pure Mushrooms products to launch our direct-to-consumer, online store,” said Nikolaevsky (https://cnw.fm/JYtwj). “The functional mushroom wellness market is experiencing robust sales as many consumers are trying to boost their immune systems in light of the COVID-19 pandemic. As we build out our mushroom extraction facility, we plan to bring more products to market.”
Pure Extracts is now trading on the Canadian Securities Exchange under the symbol “PULL”, the Frankfurt Stock Exchange under “A2QJAJ”, and the U.S. OTC market under “PRXTF”. The Company’s state-of-the-art newly constructed processing facility is built to EU GMP standards with the aim of exporting products globally to locations where their sale and consumption are permitted. As the market for functional and medicinal psychedelic products gains traction worldwide, Pure Extracts is poised to gain significant market share through its commitment to developing first-in-class extracts for the rapidly growing functional and medicinal plant-based medical industry.
For more information, visit the company’s website at www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://cnw.fm/PULL
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