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Pure Extracts Secures Processing License from Health Canada

Ryan Allway

October 7th, 2020

App, Exclusive, Top Story

 

Canada’s cannabis industry has exploded in size over the past few years. With more cultivation coming online, the retail price of cannabis biomass has fallen to about $5 per gram (including taxes) during the first quarter. The legalization and consumer trend towards cannabis extracts means that much of that dried cannabis is being processed into more consumer-friendly products.

While licensed producers have slowly begun their own extraction operations, the sharp increase in consumer demand has created an opportunity for extraction specialists like Pure Extract Technologies Inc. (CSE: PULL) (ticker pending). The Company recently received its Standard Processing License from Health Canada and aims to become a leader in the fragmented industry subset.

Let’s take a look at why Pure Extracts’ Processing License is so important and what catalysts investors can look forward to over the coming months.

Processing License Secured

Health Canada began granting extraction licenses in March of last year, which means that only a handful of companies have been able to secure one thus far. While some Licensed Producers have expanded into extraction, most of them still outsource the process to extraction specialists that handle these processes in exchange for a biomass volume-based fee as the capital costs and experience required to enter the extraction space are prohibitive.

Pure Extract Technologies recently announced that it received a Standard Processing License from Health Canada under the Cannabis Act following an extensive 5-month application and vetting process. With the license in hand, the Company is ready to move forward with its plan to combine extraction tolling and white-label production with in-house brand development.

“Pure Extracts plans to position itself as an extraction industry leader in terms of its full-spectrum oil quality,” said CEO Ben Nikolaevsky. “We can’t wait to show our licensed producer partners the incredible quality of the extracted oil that we produce. Our standards are high, as you would expect from an EU-GMP compliant producer with an experienced team.”

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Unique Market Dynamics

Pure Extracts is uniquely positioned as consumer demand for edibles and infused beverages is starting to accelerate, biomass prices are reaching new lows, and new outdoor biomass is becoming readily available for extraction. At the same time, the number of new dispensaries across Canada continues to rise, creating new distribution channels.

The Company aims to process over 100,000 kilograms of biomass per year with its two Vitalis CO2 extraction systems that produce ultra-premium, full-spectrum cannabis and hemp oil. With its expertise and infrastructure in place, the Company is capable of transforming the oil into capsules, tinctures, vapes, topicals, beverages, edibles, sprays and a wide range of other products.As a hedge against rising competition in the future, the Company is developing its own in-house brands in addition to processing on a tolling and white-label basis. The intellectual property (IP) of over 30 vape formulations that the Company acquired and will market under the Pure Pulls private label brand previously achieved widespread acceptance and distribution with repeat customers demonstrating a strong brand loyalty. The launch will include vapes, as well as tinctures.

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Looking Ahead

Pure Extracts is well-positioned to capitalize on growing consumer demand for extract-based products along with lower biomass input prices. With its Standard Processing License in hand, the Company can begin executing on its recurring revenue business model focused on both toll processing/white-label production and in-house brand development.

Investors interested in exposure to the extraction business through Pure Extracts will soon be able to purchase stock under the ticker symbol “PULL” on the Canadian Securities Exchange (CSE) (ticker pending) following its reverse-merger with Big Sky Petroleum Corp. (TSX-V: BSP.H).

For more information, visit the company’s website or download their investor presentation.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/

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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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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