Pure Extracts (CSE: PULL) has completed its first commercial sale of CBD oil, and thereby commenced revenue generation. The order reportedly occurred on the wholesale market, with the shipment expected to be the first of multiple under the stated contract.
The shipment consisted of 85% pure CBD distillate under the terms of the contract entered into by the company, with more shipments expected to follow this year. The product is reportedly ideally suited for cannabis 2.0 products such as edibles, vape pens, and beverages.
While size and financial aspects of the order were not revealed by the company, the firm indicated that the distillate comes from its super-critical C02 extraction system, which creates pure THC and CBD full spectrum oil and distillate.
“We are excited to have completed our first commercial order and we are proud of the quality of distillate that our extraction team has produced in our new, world-class facility.”
Ben Nikolaevsky, CEO of Pure Extracts
The first commercial sale of CBD oil follows the announcement in late January wherein the firm identified that it was scaling up both THC and CBD extraction to suit the needs of customers. At the time, the company indicated that it had signed its first significant biomass agreements to provide biomass for the extraction process. The firm meanwhile is also one step closer to commercializing its functional mushroom operation, following announcements made last week.
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Pure Extracts last traded at $0.61 on the CSE.
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