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Thursday, Aug 11, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Pure Extracts set to sell its products on the Shoppers Drug Mart platform

This April, Pure Extracts Manufacturing Corp. received an IPO from the Nova Scotia Liquor Corporation Cannabis for its vapes and hemp-based edibles

Manulife insurance blocks medical weed prescription, says it must be filled by Shoppers
Image via Wikimedia Commons.

Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) will soon start selling its concentrates to patients registered on the Medical Cannabis by Shoppers Drug Mart Inc. platform.

On Thursday, the plant-based extraction company said its wholly-owned subsidiary, Pure Extracts Manufacturing Corp., has signed a Cannabis Products Supplier Agreement with Shoppers Drug Mart for its cannabis products.

The initial purchase order (IPO) that will be available on the Medical Cannabis by Shoppers platform includes 6 products including Pure Pulls THC and CBD full spectrum oil vape cartridges, as well as Pure Chews THC and CBD edible gummies.

This April, Pure Extracts Manufacturing Corp. received an IPO from the Nova Scotia Liquor Corporation Cannabis for its vapes and hemp-based edibles.

Read more: Pure Extracts to start selling its products in Nova Scotia

Read more: Rubicon Organics inks first medical deal with Shoppers Drug Mart

“We are excited about joining such a trusted health and wellness retailer as Shoppers and look forward to introducing our brands to their medical customers,” Pure Extracts’ CEO Ben Nikolaevsky said.

“This marks another successful milestone in the expansion of our line of branded products and we believe this distribution relationship will contribute a significant amount of revenue to our financials over time.”

Pure Extracts has a processing facility located just 20 minutes north of Whistler, British Columbia which has been constructed to European Union GMP standards aiming towards export sales of products and formulations.

Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act on Sept. 25, 2020, and its sales amendment on July 19, 2021.

Company stock climbed on Thursday by 20 per cent to $0.30 on the Canadian Securities Exchange.

 

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