Pure Extracts (CSE: PULL) this morning announced its first licensing deal for its cannabis extracts operation. The company has formally signed a licensing deal with that of US based Taste-T, LLC for the use of the Fireball cannabis brand in Canada.
The arrangement will see Pure obtain exclusive rights for Canada and the first rights to other countries around the world for the use of the Fireball Cannabis Gummies brand. Also included under the arrangement is the delivery of a custom built Taste-T gummy manufacturing machine, which will be certified to Canadian standards.
The arrangement will effectively see Pure Extracts manufacture Fireball gummies for the Canadian market, with products to comply to Health Canada regulations. The product is to be sold under the “Pure Chews” line of cannabis edibles.
“Taste-T’s gummy line up represents a great opportunity for our Company to leverage one of the few U.S. cannabis products that can legitimately be call a ‘brand’. And of course, as a Canadian company, Pure Extracts is ideally suited to export this product to numerous countries around the world.”Ben Nikolaevsky, CEO of Pure Extracts
Taste-T currently uses a proprietary manufacturing setup to produce and package its branded cannabis gummies, with the firm currently selling its products in multiple states. Such states include Nevada, Massachusetts, Michigan, and Oklahoma. The most popular products offered include Margarita Chill and Fireball Cinnamon.
Pure Extracts last traded at $0.76 on the CSE.
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