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, is pleased to announce that its wholly-owned subsidiary, Pure Extracts Manufacturing Corp., has signed a custom manufacturing/white label agreement with Nelson, BC based Green Light Solutions Corp.’s subsidiary, Joe’s Hemp Shack Inc., to launch a line of vape products.
The agreement calls for the initial extraction & formulation of premium hemp into high-quality CBD 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 including all sales and distribution, labelling, packaging, applying of excise stamps and shipping.
GLS is an innovation firm committed to driving excellence in the Cannabis industry. GLS delivers value across multiple cannabis verticals through an agile, tech-forward business model, following cannabis and hemp specific strategies in its subsidiary business units. The company’s leadership team combines extensive experience in the cannabis industry with strong manufacturing and technology development expertise and a robust IP portfolio.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited about launching a white label product with our new partner, GLS, a fellow BC company, as they are focused on creating state-of-the-art cannabis-based products utilizing their small-batch cannabis and high-potency CBD hemp. With the addition of GLS and the increased capacity and flexibility our new cosolvent injection system provides, we have begun to execute our strategy with craft producers and branding specialists to get their white label products into the provincial dispensaries and drive up to $3 million of annual revenue from this vertical.”
Joe Corea, VP of Business Development at GLS, added, “Working with an experienced and agile manufacturing partner is critical in executing a differentiated product strategy. The emerging CBD market is dynamic, and by collaborating with adaptive partners, we can rapidly meet consumers’ evolving demands. We are confident that Pure Extract’s capabilities and market philosophy will enable us to disrupt the CBD vape category.”
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. Health Canada, under the Cannabis Act, granted Pure Extracts its Standard Processing License on September 25, 2020. The Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020.
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