Pure Extracts Shareholder Letter
November 9, 2020
Dear Pure Extracts Shareholders,
I want to thank you for supporting Pure Extracts Technologies Corp. (our new name) over the past year. As you know, we have successfully listed on the CSE under the symbol ‘PULL’. This is a major milestone in the business giving us liquidity in the market and access to capital. We also received our Standard Processing licence from Health Canada on September 25th and we have spent the last 6 weeks commissioning our equipment for commercial production. On Nov 4th we ran our first oil extraction and distillation under our licences. We are super excited about our first trial run. The business is running its required samples over the next weeks to apply for our Sales licence with Health Canada which will allow us to bring Pure Pulls and Pure Chews back to market. Our products are highly desired by the provincial dispensaries as consumers are gravitating to Full Spectrum Oil (FSO), which we specialize in.
We are starting our extraction tolling business in December with our first load being scheduled for extraction early in the month. Our new Vitalis R200 extraction system has been installed and fully tested and we are excited for our first production runs. We are bidding on several contracts in the white label area of the business now that we can provide samples to LPs for them to test our oil production capabilities. Although the Health Canada approval took longer then we planned for, we believe we can capture some meaningful volumes in the white label area into Q1 2021.
As some of you maybe aware, Pure Extracts has entered the functional mushroom space. We were approached by several new functional mushroom players to partner with them and we have signed an LOI with one of largest players in North America. We intend to launch these products in Q1 from an online portal that we are developing. Functional mushrooms have been identified as the new ‘wonder’ product in the wellness space and have been rapidly growing in popularity, so this is a very exciting move for us.
On the management front, in connection with our listing, we are pleased to welcome Dwight Duncan to our Board of Directors. Mr. Duncan was formerly a Member of the Ontario Legislature where he served as Deputy Premier and Minister of Finance and currently serves as a Senior Strategic Advisor at McMillan LLP and Chairs the Board of Directors of the Windsor-Detroit Bridge Authority, the federal crown corporation overseeing the construction and operation of the $5.7 billion Gordie Howe International Bridge.
Additionally, we are please to welcome Dr. Alexander MacGregor as a scientific advisor. Dr. MacGregor is the Dean of Faculty, distinguished professor of bio-pharmaceutics and current President of the Transpharm Canada Inc. (dba Toronto Institute of Pharmaceutical Technology (TIPT®)) – North America’s premier post-graduate institute of pharmaceutical sciences, technology and research.
Dr. MacGregor is also a pharmaceutical science inventor, an expert in pharmaceutical technology and novel drug delivery systems. He is a recipient of several global patents in the field of medical treatments and pharmaceutical drug delivery technologies most notably from Canada, US, Australia, Europe, Latin America, China, India and Japan. Dr. MacGregor’s inventions have led to groundbreaking therapeutic drugs for the treatment cancer, management of diabetes, systemic infections, and post-operative pain.
The months ahead are going to be very exciting for Pure Extracts as we ramp-up production, bring new products to market and gain market share. I look forward to updating all our shareholders again in the very near future.
For further information please contact our investor relations team at Empire Communications Group at (604) 343-2724.
ON BEHALF OF THE BOARD
CEO & Director