2020 was a banner year for the Canadian cannabis industry and we partly attribute the growth to the launch of cannabis 2.0 products.
During the last year, we have focused on identifying Canadian companies that are capitalizing on the cannabis 2.0 market.
Over the next year, we expect to see several cannabis 2.0 companies to be acquired by large-scale Canadian LPs.
The company operates out of a state-of-the-art processing facility that has been constructed to European Union GMP standards.
We are favorable on Pure Extracts’ ability to produce products that consumers demand and find the versatility of its facility to be an important part of the long-term story.
All of Pure Extract’s edible products utilize a proprietary manufacturing system that is licensed from US based Taste-T, which is the manufacturer of Margarita Chill and Fireball Cinnamon products.
A few weeks ago, Pure Extracts signed a letter of intent to form a joint venture with an affiliate of a publicly traded multi-state operator to install a cannabis and hemp extraction system in an existing Michigan facility.
As it relates to the Michigan joint venture, the companies plan to combine forces and we are favorable on the expertise and assets that are provided by each operator.
We consider the central location of the facility to be of importance since the joint venture will be able to focus on several attractive markets in the state.
Pure Extracts expects to start selling products by the fourth quarter and we will monitor how the relationship advances ahead of the planned launch.
During the last month, Pure Extracts has come under heavy pressure and this is a trend that caught our attention.
With this certification, Pure Extracts is well positioned to capitalize on burgeoning international markets in the EU and this is a market we are bullish on.
We consider Pure Extracts to be a differentiated opportunity and believe that our readers should be aware of it.
Pursuant to an agreement between StoneBridge Partners LLC and Pure Extracts Technologies Corp.
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws, including statements related to the Company’s ability to support its continued growth and fund the business’ sales and financial goals for at least the remainder of fiscal 2021 with proceeds remaining from its recent offering.
All information that we provide is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities.