Pure Extracts Consolidates Hold on Canada’s Extract Sector; Receives Standard Processing Licence from Health Canada

November 3, 2020 16:01:53
  • Pure Extracts Technologies specializes in extraction of key molecules, oils from biomass
  • Extracts are used to manufacture THC & CBD oils, edibles, infused beverages
  • Edible and infused beverage products have been available in Canada since late 2019, taking up 13% market share within Canada’s specialty drug market
  • Pure Extracts recently awarded standard processing license by Health Canada, which will enable the Company to produce clinical trial samples in its purpose-built facilities located near Whistler, Canada

Pure Extracts Technologies, a Pemberton, British Columbia-domiciled private plant extraction company, has witnessed its fortunes rise as of late. The Company’s unique business model is founded on four key pillars, namely the extraction of key molecules and oils from biomass as a tolling service, white-label product formulation, manufacturing and sales of its own ‘Pure Pulls’ brand and sales of its new functional mushroom product line –  ‘Pure Mushrooms’. With the Canadian market for edibles and infused beverages alone estimated to amount to over $2 billion a year and rising  (https://ibn.fm/6CNsm), end product manufacturers have found themselves increasingly hard-pressed in establishing a reliable supply chain to satisfy their growing demand for raw materials. Pure Extracts in turn have found themselves ideally positioned to benefit from the ongoing explosion in demand.

Pure Extracts’ current operations combine the Company’s legacy cannabis and hemp tolling experience, which seeks to convert hemp biomass into extracts such as CBD oil, distillates and isolates, with a growing product development operation which has seen the Company white-label the production of vape pens & edible products for third party retailers. The Company has recently sought to broaden the scope of its product development business through the creation of its own-branded proprietary product portfolio, referred to as ‘Pure Pulls’, an initiative which has seen the Company create 34 separate formulations. Pure Extracts plans on distributing these formulations through a wide network of dispensaries located across Canada (https://ibn.fm/0JiGX). 

Canada’s specialty drug market has historically been dominated by dried flower products, with only an estimated 13% market share held by extract products (www.PureExtractsCorp.com/Investors), such as CBD oils or edibles. However, that has largely been a function of the Canadian extract market’s relatively nascent nature, with most products having only been legalized and made available to the wider public as of December 2019. Pure Extracts looks to consolidate a hold on the extract sector given the relative lack of incumbent producers while capitalizing on the abundance of biomass currently available in the market – a factor which has allowed the company to significantly lower its raw material costs and expand its extract margins. 

“Pure Extracts plans to position itself as an extraction industry leader in terms of its Full Spectrum Oil (‘FSO’) quality,” says CEO Ben Nikolaevsky. “We can’t wait to show our LP partners the incredible quality extracted oil that we can produce, be it for medicinal or recreational usage.”

The Company has also looked to raise the quality and general perception of their capabilities, a pursuit which has recently seen the Company awarded with a Standard Processing License by Health Canada under the Cannabis Act, following an extensive and meticulous five-month application and vetting process (https://ibn.fm/Q98aQ). Following the award of the Health Canada licence, Pure Extracts will now be able to begin producing products for the B-to-B market in their purpose-built, British Columbia-based, extraction facility while adhering to EU Good Manufacturing Practices (“GMP”). This in turn will help ensure that molecules will be extracted to the highest possible quality and qualify for international exports to Europe and the rest of the world.

“We are thrilled to be commencing production in our new, EU-GMP compliant, purpose-built facility and are confident that our state-of-the-art extraction and processing equipment will produce the highest quality cannabis and hemp derived oil available on the market,” said Pure Extracts founder and COO Doug Benville following the Health Canada License approval.

For more information, visit the company’s website at www.PureExtractsCorp.com

NOTE TO INVESTORS: The latest news and updates relating to Pure Extracts are available in the company’s newsroom at http://ibn.fm/Pure

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