VANCOUVER, British Columbia, Could 05, 2022 (GLOBE NEWSWIRE) — Pure Extracts Applied sciences Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts” or the “Firm”), a plant-based extraction firm targeted on hashish, hemp and the quickly rising psychedelic sector, is happy to offer a short abstract of latest actions.
The Spring season has arrived, and with it a big lessening of Covid-19 well being measures. That is offering a return to a level of normalcy right here in Canada. That stated, the Winter months had been powerful within the hashish business as many of the provinces slowed down each the frequency and dimension of their purchases. Thankfully, regardless of an oversupply of dry flower within the market, the extraction sector is now experiencing rising demand and continues to current new and progressive merchandise to customers as they broaden their appetites past dry flower. Actually, we’ve got obtained buy orders (POs) from 6 provinces inside the final 2 months, together with an preliminary ‘6-figure’ PO from Nova Scotia. Since our final replace, our continued enlargement throughout Canada positions the Firm to report on a number of constructive actions we will provide our rising base of companions, stakeholders and shareholders alike.
Market Consciousness and Product Distribution
Our first and strategically most necessary replace is that Pure Extracts’ merchandise are actually listed on the market at licensed shops all through British Columbia (BC), Alberta (AB), Saskatchewan (SK), Ontario (ON), New Brunswick (NB) and are anticipated to be in Nova Scotia by the tip of Could.
The product combine encompasses 32 SKUs at present out there in every respective provincial leisure hashish market, and additional presents 10 SKUs particularly concentrating on the medical hashish provide chain.
The product lineup has been elevated to incorporate 2 necessary additions: a Pure Pulls branded one-gram, high-potency (90%), botanical terpene infused, THC distillate vape cart known as 9 lb Hammer and a Pure Pulls branded one-gram cured resin known as Durga Mata. Demand for our 9 lb Hammer is particularly sturdy and might be our first SKU that’s listed in all 6 provinces that our merchandise are bought in. Cured resin has lengthy been widespread in the US and we count on that will probably be met with constructive client uptake right here in Canada.
Pure Extracts’ CBD gummies, provided of their sector-leading distinctive blister packaging, proceed to report rising market share throughout the nation. Our new giant pack format of ultra-high efficiency CBD gummies presents each 600 mg and 1,000 mg portions. Medical gross sales proceed to broaden by means of the Abba Medix gross sales platform, notably within the THC vape and CBD gummie product lineup.
Our in-house companies proceed to see demand from different LPs. The 2 most energetic companies embody our white label and tolling enterprise improvement for industrial-scale clients. We’re happy to have signed one new white label program for the manufacturing of vape cartridges.
Head Depend
The Firm has streamlined the workforce at its Pemberton facility and diminished the variety of full-time workers in favour of hiring part-time workers throughout peak manufacturing, packaging and delivery durations.
New Product Growth
Pure Extracts’ improvement workforce sourced a brand new vape cart producer that gives each price efficient pricing and better high quality than our earlier provider and we’re within the midst of switching over to the brand new carts. The producer has a sturdy provide chain, meets the very best international manufacturing requirements and carries stock in Canada, thus offering dependable and well timed delivery to our Pemberton facility. Additionally they provide bespoke testing at their Canadian lab for brand new product improvement and optimization of vape cart configuration.
Our improvement workforce is engaged on a brand new infused-product and is predicted to be executing an unveiling and product launch geared toward new product SKU’s concentrating on the Canadian market inside the subsequent quarter. Till then, we’re protecting particulars to a minimal as we hope to earn advertising leverage of a really underserved product combine that we consider will place effectively with our model id and distribution means.
We even have 2 new SKUs in improvement to go with our not too long ago launched excessive efficiency vape carts and cured resin merchandise. This may present further flavour profiles for customers to select from.
Gross sales & Advertising
Enhanced social media & gross sales assist technique:
- Our devoted Pure Extracts social technique (Pure Pulls and Pure Chews) now contains every day posting of a curated feed selling natural engagement throughout Instagram, Twitter, Fb and LinkedIn.
- Creation of a devoted Pure Mushrooms social technique (for Maitake, Reishi, Lion’s Mane) together with every day curation of knowledge selling natural engagement throughout Instagram, Twitter, Fb and LinkedIn
- Ongoing effort and shut collaboration with Cannavolve, our nationwide hashish gross sales company and their workforce on the bottom throughout Canada to advertise and safe further factors of buy for Pure Pulls and Pure Chews
- A full complement of gross sales materials has been developed to assist gross sales actions within the subject.
- Product information coaching is actively underway for subject gross sales reps and budtenders (each on-site and just about).
- Buying well timed information immediately from dispensaries as a way to strengthen our direct dialogue and handle manufacturing in-line with demand.
Michigan Facility Replace
In Michigan, our extraction three way partnership (JV) firm, Pure Grown Extracts, LLC (“Pure Grown Extracts”), has now obtained each its leisure and medical Prequalification Standing Letters from the Michigan Marijuana Regulatory Company (MRA). Pure Extracts enterprise improvement and gross sales workforce has toured the Michigan market with our JV accomplice leading to conferences with a few of their 100+ present dispensary shoppers as a part of the method to develop particular merchandise tailor-made to regional customers.
Mushroom Sector Enterprise Growth
Our purposeful mushroom enterprise continues to advance with the event of a blended product formulation scheduled for launch later this quarter. Implementation with Amazon Canada skilled some preliminary points which have been overcome and we are actually on-track to supply cross-border gross sales with the graduation of a advertising marketing campaign targeted on gaining phase visibility and gross sales penetration of our Pure Mushrooms model.
The Firm not too long ago obtained a constructive response from Well being Canada concerning our Vendor’s Licence utility giving us the greenlight to start building-out our present area at any time when we’re prepared. The receipt of a Vendor’s Licence would permit us to immediately deal with managed substances at our extraction facility in British Columbia.
Close to Time period Abstract
Our near-term objectives embody product launches in Nova Scotia this month, expanded listings in Ontario subsequent month, and the itemizing of our merchandise by means of a relationship with a nationwide pharmacy chain later this quarter. We proceed to concentrate on distribution to medical sufferers by means of particular channel companions, with further medical SKUs deliberate for later this yr.
In Conclusion
The Staff at Pure Extracts continues to ship top quality merchandise into what’s a really demanding market. We’ve efficiently expanded to six provinces in a brief timeline, and we don’t intend to decelerate any time quickly! We’re very grateful to have the chance to work with such a devoted and dedicated workforce who actually pulled collectively as our total society has needed to battle in opposition to unprecedented situations. It’s an actual pleasure for us all to know we’ve got earned the belief and loyalty of so many customers, companions and shareholders who share our imaginative and prescient for achievement. We stay targeted on development, innovation, and worth technology. We invite everybody to remain engaged with us, both by means of social media or by signing up on our web site for normal information alerts, as a result of we may have far more to speak about within the months forward.
ON BEHALF OF THE BOARD
“Ben Nikolaevsky”
Ben Nikolaevsky
CEO and Director
About Pure Extracts (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)
Pure Extracts Know-how Corp. options an all-new, state-of-the-art processing facility positioned simply 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP requirements aiming in direction of export gross sales of merchandise and formulations, together with these at present restricted in Canada, into European jurisdictions the place they’re legally out there. Pure Extracts was granted its Commonplace Processing License by Well being Canada beneath the Hashish Act on September 25, 2020, and its Gross sales Modification on July 19, 2021. The Firm’s inventory started buying and selling on the Canadian Securities Change (CSE) on November 5, 2020.
Discover out extra at https://pureextractscorp.com/
Or contact:
Pure Extracts Investor Relations
Tel: +1 604 493 2052
info@pureextractscorp.com
This information launch accommodates forward-looking statements referring to the long run operations of Pure Extracts, and the opposite statements usually are not historic info. Ahead-looking statements are sometimes recognized by phrases comparable to “will”, “might”, “ought to”, “anticipate”, “expects” and comparable expressions. All statements apart from statements of historic truth, included on this launch, together with, with out limitation, statements concerning the long run plans and targets of Pure Extracts’, are forward-looking statements and contain dangers and uncertainties. A variety of components may trigger precise occasions, efficiency or outcomes to vary materially from what’s projected in ahead wanting statements. Though we consider that the assumptions underlying these statements are cheap, they could show to be incorrect, and we can not guarantee that precise outcomes might be per these forward-looking statements. Given these dangers, uncertainties and assumptions, traders mustn’t place undue reliance on these forward-looking statements. Whether or not precise outcomes, efficiency or achievements will conform to the Firm’s expectations and predictions is topic to numerous recognized and unknown dangers, uncertainties, assumptions and different components, together with these listed beneath “Threat Components” within the Firm’s Annual Info Kind. The Firm doesn’t undertake to replace any forward-looking info, besides as, and to the extent required by, relevant securities legal guidelines.
This information launch accommodates details about potential gross sales income from provide agreements, which can be thought-about as disclosure of economic outlook beneath relevant securities legal guidelines. Such info is topic to the identical assumptions, danger components, limitations, and {qualifications} as set forth within the above paragraph. Particularly, estimated gross sales income which can be derived from provide contracts has been calculated based mostly on present wholesale costs and assume, amongst different issues, that the Firm will be capable of discover consumers for its merchandise. The monetary outlook contained on this information launch was made by administration as of the date of this information launch and was supplied for the aim of offering readers with an understanding of the potential income which can be derived from any agreements not too long ago entered into by the Firm, and usually are not an estimate of profitability or every other measure of economic efficiency. Readers are cautioned that the monetary outlook contained on this doc shouldn’t be used for functions apart from for which it’s disclosed herein.
The CSE has neither authorised nor disapproved the contents of this press launch.
SAFE HARBOR STATEMENT
This press launch might comprise forward-looking info inside the which means of Part 21E of the Securities Change Act of 1934, as amended (the “Change Act”), together with all statements that aren’t statements of historic truth concerning the intent, perception or present expectations of the Firms, its administrators or its officers with respect to, amongst different issues: (i) the Firm’s financing plans; (ii) traits affecting the Firms’ monetary situation or outcomes of operations; (iii) the Firms’ development technique and working technique; and (iv) the declaration and fee of dividends. The phrases “might,” “would,” “will,” “count on,” “estimate,” “anticipate,” “consider,” “intend” and comparable expressions and variations thereof are meant to determine forward-looking statements. Additionally, forward-looking statements characterize our administration’s beliefs and assumptions solely as of the date hereof. Besides as required by regulation, we assume no obligation to replace these forward-looking statements publicly, or to replace the explanations precise outcomes may differ materially from these anticipated in these forward-looking statements, even when new info turns into out there sooner or later. Traders are cautioned that any such forward-looking statements usually are not ensures of future efficiency and contain dangers and uncertainties, lots of that are past the Firms’ means to manage, and that precise outcomes might differ materially from these projected within the forward-looking statements on account of numerous components together with the danger disclosed in Grown Rogue’s Kind 20-F and 6-Ok filings with the Securities and Change Fee.
STATEMENT REGARDING UNITED STATES REGULATORY FRAMEWORK FOR CANNABIS
Pursuant to Pure Extracts’ three way partnership with Golden Harvests, LLC, Pure Extracts expects to derive revenues from the hashish business within the State of Michigan in the US, which business is illegitimate beneath United States federal regulation. The three way partnership is predicted to be immediately or not directly engaged within the manufacture, possession, use, sale and distribution of hashish within the medical and/or adult-use hashish market within the State of Michigan.
America federal authorities regulates medication by means of the Managed Substances Act (21 U.S.C. § 811) (the “CSA”), which locations managed substances, together with hashish, in a schedule. Hashish is classed as a Schedule I drug. Beneath United States federal regulation, a Schedule I drug or substance has a excessive potential for abuse, no accepted medical use in the US, and a scarcity of accepted security for using the drug beneath medical supervision. America Meals and Drug Administration has not authorised hashish as a secure and efficient drug for any indication.
In the US, hashish is essentially regulated on the state degree. State legal guidelines regulating hashish are in direct battle with the federal Managed Substances Act, which makes hashish use and possession federally unlawful. Though sure states authorize medical and/or adult-use hashish manufacturing and distribution by licensed or registered entities, beneath United States federal regulation, the possession, use, cultivation, and switch of hashish and any cannabis-related drug paraphernalia is illegitimate and any such acts are legal acts beneath federal regulation. The Supremacy Clause of the US Structure establishes that the US Structure and federal legal guidelines made pursuant to it are paramount and in case of battle between federal and state regulation, the federal regulation shall apply.
There is no such thing as a assure that state legal guidelines legalizing and regulating the sale and use of hashish won’t be repealed or overturned, or that native governmental authorities won’t restrict the applicability of state legal guidelines inside their respective jurisdictions. Except and till the US Congress amends the CSA with respect to medical and/or adult-use hashish (and as to the timing or scope of any such potential amendments there could be no assurance), there’s a danger that U.S. federal authorities might implement present U.S. federal regulation. If the U.S. federal authorities begins to implement U.S. federal legal guidelines referring to hashish in states the place the sale and use of hashish is at present authorized, or if present relevant state legal guidelines are repealed or curtailed, Pure Extracts’ enterprise, outcomes of operations, monetary situation and prospects can be materially adversely affected. For these causes, Pure Extracts’ operations in the US hashish market (by means of the three way partnership) might topic Pure Extracts to heightened scrutiny by regulators, inventory exchanges, clearing companies and different Canadian and U.S. authorities and is topic to numerous dangers, together with these dangers which can be described within the Firms’ public filings profile on SEDAR at www.sedar.com .
To Pure Extracts’ information, no assertion has been made by federal authorities or prosecutors concerning the danger of enforcement motion with respect to state-sanctioned marijuana actions within the state of Michigan.
No inventory change, securities fee or different regulatory authority has authorised or disapproved the knowledge contained herein.