VANCOUVER – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has signed a custom manufacturing/white label agreement with a West Coast Licensed Producer to launch a line of vape products.
The agreement calls for the extraction of premium cannabis supplied by the LP and the subsequent formulation into high quality, full-spectrum oil (FSO) 1 gram vape cartridges. These products will be created by collaboration between the two companies with a reliance on Pure Extracts’ 30+ proprietary formulations and its optimized vape hardware. Pure Extracts will be providing co-manufacturing extraction services. The initial order has an approximate retail sales value of $525,000
This science-based LP has extensive experience in the growing medical-grade cannabis for patients and are now excited to apply their experience towards producing first-rate cannabis for the legalized adult-use market in Canada. Their meticulous standards are used at every step of product development, from growing and processing to R&D.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited about launching a white label product with our new customer, as they are focused on creating state-of-the-art products utilizing cannabis they grow themselves. With the addition of this customer and the increased capacity and flexibility our new cosolvent injection system provides, we have begun to execute our strategy with high quality producers and branding specialists to get their white label products into the provincial retailers and drive up to $3 million of annual revenue from this vertical.”
Pure Extracts Technology Corp. 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. Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act on September 25, 2020, and its Sales Amendment on July 19, 2021. The Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020.plant-based cse otc