Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)
- Pure Extracts announced initial shipment of 0.5 gram vape cartridges to Alberta Gaming, Liquor & Cannabis
- CBD vape market has experienced strong growth in recent times, with one market research firm forecasting sector to be worth over $28bn by 2027
- Pure Extracts has simultaneously sought to broaden its SKU’s within vape sector, commencing manufacture of larger, 1 gram FSO vape cartridge to better cater to changing customer demand patterns
, a plant-based extraction company focused on the cannabis, hemp, functional mushrooms, and rapidly emerging psychedelic sector, announced that its whole owned subsidiary, Pure Extracts Manufacturing Corp., had successfully shipped its initial order of 0.5 gram vape cartridges via its distribution partner to Alberta Gaming, Liquor & Cannabis (“AGLC”) (https://cnw.fm/up5qd
“We are excited to have shipped our first vape cart order to the Province of Alberta and are looking forward to a successful long-term relationship with AGLC that leads to a satisfied customer base and a significant contribution to our annual revenue,” said Pure Extracts CEO Ben Nikolaevsky. “We have created the high quality FSO vape products that consumers now demand and believe that we will quickly build brand loyalty with both legacy and new entrants in the vape space.”
The CBD vape market has been a beneficiary of strong customer demand as of late, with Data Bridge Market Research forecasting that the sector could be worth as much as $28.05 billion by 2027 (https://cnw.fm/jy7bN
). Increased CBD oil usage across a range of medical applications, such as the treatment of anxiety and depression, stress relief, diabetes prevention, pain mitigation, the alleviation of cancer symptoms, and even acne reduction are all factors which have been singled out by Data Bridge as key drivers underpinning demand growth within the segment.
The announcement of the initial product shipment comes shortly after the company revealed that it had developed and begun the manufacturing process of an innovative, 1-gram, full spectrum oil (“FSO”) vape cartridge for the Canadian retail market (https://cnw.fm/ttZ6D
The move towards a larger cartridge side, which 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 GSC, follows an extensive study carried out by Pure Extracts, which found demand for larger cartridges to be particularly strong within provincial markets; in particular, larger cartridges were found to offer both exceptional value to customers while also generating higher margins for the company overall.
Mr. Nikolaevsky commented on the new cartridges, “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.”
Pure Extracts’ venture into the CBD vape market marks a continuation of the company’s ongoing diversification drive, which has seen the Pure Extracts broaden its business operations from the legacy toll processing and extraction business to encompass a series of new business verticals, including functional mushroom as well as the formulation and manufacturing of psilocybin-based active treatments.
For more information, visit the company’s website at www.PureExtractsCorp.com
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: The latest news and updates relating to PULL are available in the company’s newsroom at https://cnw.fm/PULL
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