Pure Extracts Technologies (CSE: PULL) has announced its first arrangement within the functional mushroom space as of this morning. The company has entered into a letter of intent with that of The Nutraceutical Medicine Company to co-develop a line of CBD and full spectrum mushroom wellness combinations as well as to support Pure’s move into the functional mushroom space.
The Nutraceutical Medicine Company is the owner of Purica, a brand focused on full spectrum mushroom derived wellness products. The company is said to have a track record of more than 20 years in the natural and whole food product space. The company currently has product formulations targeting sleep, heart health, immunity, stress relief, weight management, performance, and numerous other conditions.
Together, the two firms are to co-develop a line of products that marries CBD and functional mushrooms. The company currently intends to develop a formulation with the highest bioavailability on the market today, while taking advantage of the significant growth seen as of late in both the functional mushroom wellness space as well as that of CBD oils market in terms of consumer demand.
“We are excited to be working with the experts at PURICA on functional mushroom products and novel CBD formulations. They have an impressive history of product development, customer retention and an unwavering dedication to high standards.”Ben Nikolaevsky, CEO of Pure Extracts
Pure Extracts last traded at $0.74 on the CSE.
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