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CannabisNewsBreaks – Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) Announces Biomass Purchase Agreements to Scale-Up Extract Production

Company: Pure Extracts Technologies Corp. (PRXTF)
Category: News

Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF), a plant-based extraction company specializing in cannabis, hemp and mushroom products, has entered into its first initial substantial biomass purchase agreements; the agreements are designed to support an increase in the company’s production of THC and CBD oil extracts. Executed with a large Canadian Licensed Producer, one purchase agreement outlines Pure Extracts’ intent to purchase 220 kgs of high-potency THC cannabis dried flower; the company also agreed to purchase approximately 1,000 kgs of high-potency CBD biomass from a top Western Canada cultivator. The company plans to use the cannabis 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 CBD oil with a minimum purity of 66% and distillate with a minimum purity of 85%. The announcement noted that based on these two biomass purchases alone, Pure Extracts should be able to produce approximately 70 kgs of CBD distillate and 25 kgs of THC distillate, which at current prices of $6,000 per kg and $6,800 per kg respectively, could lead to $590,000 in near-term sales revenue. “Having a stockpile of biomass makes sense for us now as Pure Extracts starts to build its name in the elite category of extractors,” said Pure Extracts CEO Ben Nikolaevsky. “We are looking forward to showcasing our world-class products and consistently ramping-up revenue this year.”

To view the full press release, visit https://www.cnw.fm/IKsCV

About Pure Extracts Technologies Corp.

Pure Extracts 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 Sept. 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act. In addition, the company’s stock began trading on the Canadian Securities Exchange (“CSE”) on Nov. 5, 2020. For more information about the company, please visit www.PureExtractsCorp.com.

NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://cnw.fm/PULL

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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