Pure Extracts Commences Production of 1 Gram FSO Vape Cartridges in Preparation for Retail Distribution and Revenue
Vancouver, B.C., June 3, 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 developed and is in production of innovative 1 gram, full spectrum oil (FSO), vape cartridges for the Canadian retail market.
With a trend towards larger cartridges as consumer preferences mature, demand for Pure Extracts’ Pure Pulls branded vape carts is strong within the provincial markets as this product also offers exceptional value to the consumer while generating high margins for the Company. The cartridges will be filled with a selection of some of the Company’s 30+ proprietary cannabis FSO formulations including Super Lemon Haze, Grand Daddy Purple and GSK.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are proud to be a leading innovator in the cannabis vape sector. The combination of a larger form factor with our exceptional cannabis extracts will definitely build on the loyal following Pure Pulls already has in-place.”
These 510 vape cartridges are produced by a global manufacturer and adhere to the highest North American test standards. They were specifically chosen for the quality of their component parts, their fit and finish and their performance characteristics when paired with Pure Extracts’ oil concentrates.
Additionally, the Company has granted 2,865,000 options under its existing Stock Option Plan to various employees, directors and consultants exercisable at $0.30 per share and having an exercise term of 3 years from the grant date.
ON BEHALF OF THE BOARD
CEO and Director
About Pure Extracts (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)
Pure Extracts Technology Corp. 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. Health Canada, under the Cannabis Act, granted Pure Extracts its Standard Processing License on September 25, 2020. The Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020.
Find out more at https://pureextractscorp.com/.
For more information:
Pure Extracts Investor Relations
Tel: +1 604 493 2052
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. 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 assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions 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 any forward-looking information, except as, and to the extent required by, applicable securities laws.
This news release contains information about potential sales revenue from supply agreements, which may be considered as disclosure of financial outlook under applicable securities laws. Such information is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraph. Specifically, estimated sales revenue which may be derived from supply contracts has been calculated based on current wholesale prices and assume, among other things, that the Company will be able to find buyers for its products. Financial outlook contained in this news release was made by management as of the date of this news release and was provided for the purpose of providing readers with an understanding of the potential revenue which may be derived from the production of 1 gram vape cartridges and is 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 for which it is disclosed herein.