Pure Extracts (CSE: PULL) this morning released to the market its roadmap for the processing of functional mushroom formulations. Presently, the company is aiming for a first quarter 2021 launch of a new line of products into this niche, while also advancing the development of related delivery technologies.
The company has indicted that it has “commenced the expansion of its business model,” with the expansion to consist of a step into the functional mushroom market. More specifically, it is looking to conduct extraction processes that are compatible with its existing on-site infrastructure. To this end, it believes a significant opportunity is present to become an extraction partner for the commercialization of new functional mushroom products.
Through the advice of its scientific advisor Dr Alexander MacGregor, the company is in the process of developing highly bio-available products along with novel delivery methods such as edibles, pills and capsules. Further, it has signed an LOI to co-develop CBD-enhanced mushroom products with an undisclosed functional mushroom wellness brand. Products that include lion’s mane, reishi, and turkey tail are expected to be the first focus of the firm, which will be sold under the “Pure Mushrooms” banner, with commercialization expected by the end of the first quarter of 2021.
Finally, the company has indicated that it intends to eventually enter the psychedelic mushroom sector, by offering extraction services within the space. The move is viewed by Pure as being a part of its diverse extraction market strategy.
“Moving into the field of mushroom extractions is an obvious and exciting opportunity to leverage our advanced technology and proven capabilities. We look forward to launching our functional products commercially within the next few months and can’t help but see the similarities to the cannabis sector regarding the pathways to both medical and recreational legalization.”
Ben Nikolaevsky, CEO of Pure Extracts
Pure Extracts last traded at $0.60 on the CSE.
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