Pure Extracts signs white label agreement with British
VANCOUVER, British Columbia, July 20, 2021 (GLOBE NEWSWIRE) – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts” or the “Company”), a herbal extraction company focused on the cannabis, hemp, functional fungi and industry booming psychedelic, is delighted to announce that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has signed a custom / white label manufacturing agreement with the subsidiary of Green Light Solutions Corp. (“GLS”) based in Nelson, British Columbia, Joe’s Hemp Shack Inc., to launch a line of vape products.
The deal provides for the initial extraction and formulation of premium hemp into high quality CBD vape cartridges. These products will be created by the collaboration between the two companies relying on more than 30 exclusive formulations of Pure Extracts and its optimized vape material. Pure Extracts will provide co-manufacturing extraction services including all sales and distribution, labeling, packaging, excise stamping and shipping.
GLS is an innovation company committed to promoting excellence in the cannabis industry. GLS delivers value across multiple cannabis verticals through an agile and forward-thinking business model, following specific cannabis and hemp strategies in its subsidiary business units. The company’s management team combines extensive experience in the cannabis industry with strong manufacturing and technology development expertise and a strong intellectual property portfolio.
Pure Extracts CEO Ben Nikolaevsky said, “We are excited to launch a white label product with our new partner, GLS, another BC company, as they are focused on creating products based on of cutting-edge cannabis using their small batch cannabis and high potency CBD hemp. With the addition of GLS and the increased capacity and flexibility offered by our new cosolvent injection system, we began to execute our strategy with artisan producers and brand specialists to bring their white label products into the markets. provincial dispensaries and generate up to $ 3 million in annual revenue. of this vertical.
Joe Corea, vice president of business development at GLS, added: “Working with an experienced and agile manufacturing partner is essential to execute a differentiated product strategy. The emerging market for CBD is dynamic, and by collaborating with adaptive partners, we can quickly respond to changing consumer demands. We are confident that the capabilities and market philosophy of Pure Extract will allow us to disrupt the CBD vape category.
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. has a brand new state-of-the-art processing facility located just 20 minutes north of famous Whistler, British Columbia. The bespoke facility has been built in accordance with European Union GMP standards to export sales of products and formulations, including those currently restricted in Canada, to European jurisdictions where they are legally available. Health Canada, pursuant to the Cannabis Act, granted Pure Extracts its standard processing license on September 25, 2020. The Company’s shares began trading on the Canadian Securities Exchange (CSE) on November 5, 2020 .
To learn more, visit https://pureextractscorp.com/.
For more information: Pure Extracts Investor Relations Phone. : +1 604 493 2052 [email protected]
Forward-looking statements This press release contains forward-looking statements relating to the future operations of Pure Extracts, and other statements are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements other than statements of historical fact, included in this press release, including, without limitation, statements regarding expansion into the United States 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 guarantee that actual results will be consistent with these forward-looking statements. In light of these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements. The compliance of actual results, performance or achievements with the Company’s expectations and forecasts 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 forward-looking information, except to the extent and to the extent required by applicable securities laws.
This press release contains information about potential sales revenue from the supply agreements, which may be considered a financial outlook disclosure under applicable securities laws. This information is subject to the same assumptions, risk factors, limitations and reservations as those set out in the paragraph above. More specifically, the estimated sales revenues that may be derived from the supply contracts have been calculated on the basis of current wholesale prices and assume, among other things, that the Company will be able to find buyers for its products. The financial outlook contained in this press release has been established by management as of the date of this press release and has been provided for the purpose of providing readers with an understanding of the potential revenues that may be derived from a 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 those for which they are disclosed here.
The CSE has neither approved nor disapproved the contents of this press release.