Pure Global Cannabis Inc. (TSXV:PURE, OTC:PRCNF) (the “Company” or “Pure Global” or “Pure”), an integrated growth-oriented cannabis bulk extracts and consumer products manufacturing company, operating through its wholly-owned subsidiary PureSinse Inc., a Health Canada Licensed Producer under the Cannabis Act, is pleased to announce it has received an amendment to its processing license to allow the sale of extracts, topicals, and edibles to medical and legal adult consumer markets.
Receiving this license is timely as the Company recently received its oil sales license enabling it to significantly broaden its product offerings to medical and recreational consumers in the high margin concentrate categories. With the approval to produce and sell extracts, topicals, and edibles, the Company can introduce a full line of premium quality branded and white label cannabis and cannabidiol (“CBD”) products including vape pens, which have been formulated without harmful chemicals, pre-formulated oils, extracts, topicals, and edibles. The Company has submitted 20 SKUs to Health Canada for release as early as December this year and plans on submitting more in the coming months as it expands its product lines in high-margin categories.
Pure Global anticipates receipt of Health Canada approval soon to add over 10,000 square feet of finished eu-GMP grade manufacturing space, comprised of 12 cultivation, processing, and extraction rooms to the Company’s already licensed site. Once the approvals are obtained, the Company can commence activities to enable the sale of bulk concentrates, branded and white label medical, recreational, and wellness products, and co-manufacturing and tolling services.
“Our consumer and B2B brands have been developed to take full advantage of cannabis derivative products. Receiving this license is a big step for Pure”, said Pure Global CEO & President, Malay Panchal. “We have the equipment in place to provide premium cannabis extracts, topicals, and edibles for consumers and companies looking for the highest quality products. We have worked very hard to put in place an organizational structure that will create significant value for our shareholders. This licensing approval is significant step in our journey as it allows us to participate in the newly released edibles and concentrates regulations that went into effect October 17, 2019,” added Mr. Panchal.
About Pure Global Cannabis
Pure Global is a eu-GMP grade cannabis manufacturer focused on producing high-quality high margin branded and white label cannabis and CBD consumer products, premium quality bulk dried flower, full spectrum concentrates, and pre-formulated active ingredients for CPG manufacturers globally. The Company is led by a professional team of experienced pharma, biotechnology, horticultural, extraction, manufacturing and consumer packaged goods experts, and operates through its wholly owned subsidiary, PureSinse Inc., which is a licensed producer under the Cannabis Act. Pure operates a B2B brand under PureCanna Solutions which is focused on high-margin bulk cannabis extracts, bulk CBD sales, as well as white label, and co-manufacturing services. The Company’s 18,000 square foot Bramptonmanufacturing campus houses facilities for vertically farmed hydroponic indoor cultivation, R&D, extraction, processing, and packaging. To compete in international markets, Pure Global is the process of deploying a joint operation in Yunnan, China for large scale hemp derived organic bulk CBD manufacturing and processing for international bulk and finished product sale under Special Economic Zone tax-free export provisions. Pure has also launched, or is in the process of launching, several premium branded products in targeted consumer categories into the Canadian legal adult market including PureSinse® Wellness, Paper&Weed Pre-Rolls, Galaxy Cannabis, Kumo Edibles, and PureSinse® Medical, which operates with Pure’s wholly own subsidiary Spark Cannabis Clinic, offering free telemedicine consultation for medical cannabis patients across Canada. Through its recently acquired division, The Great Canadian Health Company®, which won Hemp Product Company of the year at the recent 2019 GrowUp Awards, Pure is launching a line of organic hemp oil and CBD topical products, into several markets in Europe and Asia in early 2020.
This news release contains certain forward-looking statements, including, but not limited to, statements about Pure Global’s future plans and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Pure Global cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Pure Global assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.