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Pure Extracts Enters Into Biomass Purchase Agreements To Support Oil Extract Production

Ryan Allway

January 26th, 2021

Psychedelics

Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts” or the “Company”), a plant-based extraction company, is pleased to announce that it has entered into its first substantial biomass purchase agreements in order to scale-up its production of both THC and CBD extracts.

The Company has recently agreed to purchase 220 kgs of high potency THC cannabis dried flower from a large, Canadian Licenced Producer and it has also agreed to purchase 1,000 kgs of high potency CBD biomass from a top, Western Canada, cultivator. With biomass prices touching new lows, the Company believes that the timing was right for its first strategic purchases, which will drive revenue growth in Q1 2021.
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The cannabis will be used to produce full spectrum (FSO) THC oil with a minimum purity of 67% and distillate with a minimum purity of 86%. The hemp will be used to produce full spectrum (FSO) CBD oil with a minimum purity of 66% and distillate with a minimum purity of 85%. From these 2 biomass purchases alone, the Company will be able to produce approximately 70 kgs of CBD distillate and 25 kgs of THC distillate. At current wholesale prices of $6,000/kg and $6,800/kg respectively, this biomass could lead to $590,000 in near term sales revenue.

Pure Extracts CEO, Ben Nikolaevsky, remarked, “Having a stockpile of biomass makes sense for us now as Pure Extracts starts to build its name in the elite category of extractors. We are looking forward to showcasing our world class products and consistently ramping-up revenue this year.”

About Pure Extracts (CSE: PULL) (Frankfurt: PUX)
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The Company 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. On September 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act and the Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020. Find out more at https://pureextractscorp.com/.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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