Pure Extracts (CSE: PULL) this morning formally announced that is has submitted final documents to Health Canada. The documents submitted are in relation to obtaining a license to permit the sale of cannabis extract products to authorized distributors and retailers across Canada.
The company is currently experiencing product sales as a result of the recently announced partnership with that of Canada House Wellness. Under that arrangement, distribution of the firms cannabis products are occurring with select provincial retailers, ahead of the firm obtaining its sales license from Health Canada.
Upon the granting of the sales amendment from the regulator, the company will now be able to hit the ground running, capturing further margin from the sale of its products, thanks in part to the current arrangement with Canada House. The sales momentum is expected to be in place for both its Pure Pulls and Pure Chews line of products, which represents the firms foray into vape and edible products.
“This milestone dovetails perfectly with our recently signed distribution agreement; we have all our bases covered now and we will quickly and efficiently get our vape and edible products to retail buyers across Canada.”
Ben Nikolaevsky, CEO of Pure Extracts
Pure Extracts is currently in the process of commercializing its 34 formulations of its Pure Pulls brand of full spectrum oil vape products. The company also is in the process of launching Pure Chews, which is based on a licensing arrangement with US-based Taste-T, from whom the firm has licensed the Fireball cannabis gummies line of products.
Pure Extracts last traded at $0.64 on the CSE.
FULL DISCLOSURE: Pure Extracts is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Pure Extracts on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
