Pure Global Cannabis CEO Malay Panchal highlights how the company is among the next generation of cannabis companies.
Pure Global Cannabis (TSXV:PURE,OTCMKTS:PRCNF,FWB:1QS) CEO Malay Panchal sees opportunity in the newly regulated cannabis markets in Europe, South America, the US, Asia as well as the rest of the world and is developing the company’s distribution plans accordingly.
In the interview below, Panchal provided an update on the company’s sales license application as well as the company’s product development plans.
Below is a transcript of our interview with Pure Global Cannabis CEO Malay Panchal. It has been edited for clarity and brevity.
Pure Global Cannabis CEO Malay Panchal: Pure Global is bringing best practices from the pharmaceutical, biotechnology and agritech industries to the cannabis sector. Prior to commercialization, the industry was comprised of hobbyists, expert growers and enthusiasts. Scientists hadn’t entered the sector yet in a big way because it was illegal. We’re striving to bring that expertise and acumen into the sector by producing pharmaceutical-grade consumer, medical and pharmaceutical products.
To do this, you need a vigorous procedural and operating methodology, where every step is meticulously planned and executed in order to produce a standardized product that consumers can depend upon. We’ll be targeting the medical wellness sector and we’re developing a line of cannabis therapeutics that will be sold in pharmacies in Canada and across the globe.
INN: Please tell us about your subsidiary, PureSinse, and the work it is doing in Brampton, Ontario.
MP: PureSinse will be our center of manufacturing excellence in Brampton where we’re implementing our patent-pending “multiponic” vertical-farming growth system for high-capacity cannabis production. We’ll be building a GMP-compliant analytics and microbiology lab to develop formulations, conduct testing and eventually manufacture cannabis-based products.
Our facility is situated in the middle of an industrial park and we’re currently occupying two warehouses that total 41,000 square feet. We have the potential to conduct a 20-fold expansion there. In a nutshell, PureSinse will be our launching pad for consumer and medical products for the Canadian and international markets.
INN: What is a multi-ponic system? What benefits for cultivation does Pure Global’s innovative method provide?
MP: Our multiponic system incorporates a vertical farming method that lets us produce a smaller plant that will flower quickly and allows us to produce 3 to 5 times the canopy in the same square foot. Our goal is to produce three to five times more plants than traditional growing systems, which will enable us to economically scale our operations and produce a high-quality standardized product on a consistent basis. We hope to license out this technology one day and are in the process of validating it for cannabis.
INN: What is the significance of the Health Canada sales licence awarded to the company on January 11, 2019?
MP: We’ve been working towards selling the products we’ve acquired from other licensed producers to the medical community, but before we can do that, we have to demonstrate to Health Canada that we’re prepared to sell. To do that we need to complete certain steps.
For that we had to prepare two batches of finished product. After completing our pre-licensing sales inspection with Health Canada in September we eagerly anticipated the granting of our sales license, which finally arrived.
Now that we have our sales license, we can commence sales and revenue generation. We will begin selling to medical patients through our relationship with Appletree as well as through other medical cannabis clinics via our online store at PureSinse.com.
INN: What was the most important milestone for your company in 2018?
MP: Our most significant milestone last year was our listing on the TSXV in July. We started the process in late January to early February and took us many months to enter the capital markets. Although, we didn’t go public at an ideal time as we were pre-revenue, we felt it was the best strategy for faster expansion capability and access to cheaper capital. Also achieving the necessary inventory to go to market with was an essential step, also was finalizing operational preparation for launch including IT, customer service, records keeping, quality assurance, and supply chain.
INN: What is next for Pure Global and how does that fit into the company’s long-term plans?
MP: We’ll be working on Phase 2 and Phase 3 of development, which will include the installation of our vertical-farming system at our Brampton campus and the commencement of cultivation. We’ve finished the plumbing work and structural reinforcement of the building to ensure that our building will be able to support our robust environmental control system required for our high-capacity systems. In Phase 3, the second building will be outfitted with additional cultivation area, increased extraction and processing capacity, manufacturing lines, and an industrial kitchen.
In addition to that, we’re in the process of defining which products we’d like to bring to the market and have begun formulations for a number of these products, including oil capsules, tinctures, and vape pens. We’re also developing products for the wellness food and beverage industry, which we believe will be a huge market. We’ll also be initiating our processes for developing pharmaceutical-grade products that will be sold in pharmacies and prescribed by doctors. These products will have Drug Identification Numbers with clinical data behind them, that can be further applied for approval in other countries.
Furthermore, Pure Global is an innovations-based company that is developing its intellectual property (IP), methodologies and product lines in Canada before taking those products and IP to other regulated jurisdictions around the world. We’re eagerly preparing to enter the US once federal regulations change, as well as Europe, South America and Asia. We’re excited about the developments in India, South Korea and Malaysia and we’re anticipating medical legalization in China as well.
Overall, our aim is to become the most-trusted brand of high-quality cannabis-based products that meets the needs of consumers in the wellness, medical, consumer and pharmaceutical sectors. On the consumer side we also see a huge opportunity working with micro-cultivators for craft cannabis products, which we believe will soon comprise a large portion of the market similar to what we have seen with craft beer.
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