VANCOUVER, British Columbia, March 16, 2021 (GLOBE NEWSWIRE) -- Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts” or the “Company”), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, is pleased to announce that its wholly owned subsidiary, Pure Mushrooms Corp. (“Pure Mushrooms”), has ordered its first shipment of functional mushrooms from its British Columbia co-packer.
Pure Mushrooms has developed three premium, functional mushroom formulations, that come in safe and convenient vegan capsules. These products will be available through its online e-Commerce store with sales of Reishi and Maitake formulations expected to commence in April and sales of a Lion’s Mane formulation expected to commence in June.
Reishi mushrooms have been a staple in Eastern medicine for centuries and provide antioxidants, support for the immune system, help increasing energy and resistance to stress, and are often used to strengthen the body and nourish the heart in Traditional Chinese Medicine. Maitake mushrooms are widely used in the Japanese and Chinese cultures in foods and as a supplement, with perceived benefits in combating stress, supporting the immune system, with high antioxidants that benefit the heart and the brain. Lion’s Mane is thought to boost cognitive health and power, provide memory support and enhance mental clarity.
Each formulation has the potential to generate $15,000 in gross sales per month.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited to be ordering the first Pure Mushrooms products to launch our direct-to-consumer, online store. The functional mushroom wellness market is experiencing robust sales as many consumers are trying to boost their immune systems in light of the COVID-19 pandemic. As we build-out our mushroom extraction facility, we plan to bring more products to market.”
About Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)
Pure Extracts features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. On September 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act and the Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020. Find out more at https://pureextractscorp.com/.
For further information please contact Empire Communications Group at (604) 343-2724.
ON BEHALF OF THE BOARD
CEO and Director
The CSE has neither approved nor disapproved the contents of this press release.
This news release contains forward-looking statements relating to the future operations of Pure Extracts, and the other statements are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of Pure Extracts’, are forward-looking statements and involve risks and uncertainties. A number of factors could cause actual events, performance or results to differ materially from what is projected in forward looking statements. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under “Risk Factors” in the Company’s Annual Information Form. The Company does not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws.
This news release contains information about potential sales revenue from supply agreements, which may be considered as disclosure of financial outlook under applicable securities laws. Such information is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraph. Specifically, estimated sales revenue which may be derived from supply contracts has been calculated based on current wholesale prices and assume, among other things, that the Company will be able to find buyers for its products. Financial outlook contained in this news release was made by management as of the date of this news release and was provided for the purpose of providing readers with an understanding of the potential revenue which may be derived from supply agreement recently entered into by the Company and are not an estimate of profitability or any other measure of financial performance. Readers are cautioned that the financial outlook contained in this document should not be used for purposes other than for which it is disclosed herein.