- Canada House subsidiary Abba Medix to distribute Pure Extract line of full spectrum oil vape and edible products throughout its nationwide network
- Partnership widens Pure Extracts’ footprint in Canada’s growing Cannabis 2.0 market
- Global extraction product market expected to reach $28.5 billion in next six years
- New agreement strengthens Pure Extracts’ sales channels as it looks towards international expansion
There’s plenty of media coverage about increasing legalization of cannabis for medical and adult recreational use driving a broad market expected to reach $73.6 billion by 2027 (https://cnw.fm/zWr9X), but not as much about the cannabis extraction market that is growing at nearly the same annual clip (18.1% vs. 16.6%, respectively) to reach $28.5 billion at the same time (https://cnw.fm/j3Pv1). Perhaps it is because people can easily grasp the top-level idea of smoking cannabis buds, while the idea of processing cannabis and hemp into tinctures, oils, vapes, edibles and other products like Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) does is far more complex. It’s arguable, though, that buds, excluding high-end crafts and medical grade, are a bit of a race to the bottom with pricing while extraction products seem sexier with their diversity of applications and higher margins.
The onset of Cannabis 2.0, the colloquial name for regulatory changes late in 2019 that legalized marijuana derivative products in Canada, paved the way for a spate of new products to hit retailer shelves in 2020, but the momentum has been a slow build that is now accelerating. Data from Statistics Canada shows that 527,987 units of adult-use extract products were bought in…
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