Announcement • Aug 30
Pure Extracts Technologies Corp. Announces Board and Secretary Changes Pure Extracts Technologies Corp. announced that Yana Popova has tendered her resignation as Corporate Secretary and a director of the Company and Sean Bromley has tendered his resignation as a director of the Company, effective 29 August 2023. Announcement • Aug 29
Pure Extracts Technologies Corp. Announces Resignation of Yana Popova as Chief Financial Officer Pure Extracts Technologies Corp. announced that Yana Popova has tendered her resignation as Chief Financial Officer. Reported Earnings • Mar 04
Second quarter 2023 earnings released: CA$0.009 loss per share (vs CA$0.01 loss in 2Q 2022) Second quarter 2023 results: CA$0.009 loss per share. Revenue: CA$564.4k (up 43% from 2Q 2022). Net loss: CA$1.06m (loss widened 7.6% from 2Q 2022). Reported Earnings • Dec 01
First quarter 2023 earnings released: CA$0.008 loss per share (vs CA$0.014 loss in 1Q 2022) First quarter 2023 results: CA$0.008 loss per share (improved from CA$0.014 loss in 1Q 2022). Revenue: CA$816.3k (up 186% from 1Q 2022). Net loss: CA$864.4k (loss narrowed 41% from 1Q 2022). Announcement • Nov 17
Pure Extracts Receives Approval from Manitoba Liquor & Lotteries to List Pure Pulls Vapes and Pure Chews Edibles Pure Extracts Technologies Corp. announced that its wholly-owned subsidiary, Pure Extracts Manufacturing Corp., has received approval from Manitoba Liquor & Lotteries to list 9 SKUs in the their product catalogue. This will allow all the licensed retailers in Manitoba to order and purchase these products through Manitoba Liquor & Lotteries and deliver directly from Pure Extracts. The approved listings include 6 Pure Pulls™ branded vape cartridges (4 unique Full Spectrum Oil vape carts, the high THC 9 Pound Hammer vape cart and the Durga Mata Cured Resin vape cart) and 3 Pure Chews™ edible gummies (2 CBD edible gummies and 1 THC edible gummie). All Pure Chews™ are sold in a Pure Extracts’ unique blister packaging offering convenience and guaranteeing freshness. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Dwight Duncan was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Dwight Duncan was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 10
Pure Extracts Technologies Corp. announced that it has received CAD 0.445275 million in funding Pure Extracts Technologies Corp. announced non-brokered private placement of 5,937,001 special warrants at a price of CAD 0.075 per warrant for gross proceeds of CAD 445,275 to accredited investors on March 8, 2022. The special warrants will convert into units upon the earlier of the receipt for a final prospectus qualifying the distribution of the units or four months and a day from the final closing date of the transaction. Each unit will consist of one common share and one common share warrant, with each whole warrant is exercisable at CAD 0.15 per share for a period of 24 months following the deemed exercise date of the warrants. A finder’s fees of CAD 14,169 cash and 188,930 finder’s warrants were paid and issued in conjunction with the transaction. Each finder’s warrant entitles the holder thereof to purchase one common share of the company at an exercise price of CAD 0.15 per finder’s warrant share until March 7, 2024. All securities issued under the transaction will be subject to a statutory 4-month plus one day hold period, which expires on July 8, 2022, in accordance with applicable Canadian securities laws. Three insiders of the company subscribed for a total of 656,666 special warrants in connection with the transaction. Recent Insider Transactions • Feb 06
Founder recently sold CA$51k worth of stock On the 2nd of February, Doug Benville sold around 649k shares on-market at roughly CA$0.079 per share. This was the largest sale by an insider in the last 3 months. Doug has been a seller over the last 12 months, reducing personal holdings by CA$175k. Announcement • Jun 04
Pure Extracts Commences Production of 1 Gram FSO Vape Cartridges in Preparation for Retail Distribution and Revenue Pure Extracts Technologies Corp. a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has developed and is in production of innovative 1 gram, full spectrum oil, vape cartridges for the Canadian retail market. With a trend towards larger cartridges as consumer preferences mature, demand for Pure Extracts’ Pure Pulls branded vape carts is strong within the provincial markets as this product also offers exceptional value to the consumer while generating high margins for the Company. The cartridges will be filled with a selection of some of the Company’s 30+ proprietary cannabis FSO formulations including Super Lemon Haze, Grand Daddy Purple and GSK. These 510 vape cartridges are produced by a global manufacturer and adhere to the highest North American test standards. They were specifically chosen for the quality of their component parts, their fit and finish and their performance characteristics when paired with Pure Extracts’ oil concentrates. Recent Insider Transactions • May 09
CEO & Director recently sold CA$63k worth of stock On the 7th of May, Ben Nikolaevsky sold around 200k shares on-market at roughly CA$0.31 per share. This was the largest sale by an insider in the last 3 months. This was Ben's only on-market trade for the last 12 months. Announcement • Mar 12
Pure Extracts Technologies Corp. Sells First Shipment of Cannabis Oil Extracts to German Pharma Company Pure Extracts Technologies Corp. announced that it has sold its first batch of cannabis oil extracts to a German pharmaceutical company. Pure Extracts purchased Canadian grown, EU-GMP certified, dry cannabis flower and extracted it into 65% pure THC full spectrum oil (FSO) and into 85% pure THC distillate. These extracts will be furthered processed in Germany into an ultra-pure form of THC for medicinal purposes. This initial sale will pave the way for longer term supply agreements into Germany, Europe's most important market and the Company plans to continue seeking export opportunities for its products in other European countries wherever they can be legally sold. Announcement • Mar 11
Pure Extracts Technologies Corp. and ShroomBloom Labs Sign Psychedelic Mushroom Supply Letter of Intent Pure Extracts Technologies Corp. announced that it has signed a Letter of Intent (LOI) with ShroomBloom Labs/Floja Bioscience Inc. to enter into an agreement for the supply of psychedelic mushroom biomass. Under the terms of the LOI, Pure Extracts would get preferential access to ShroomBloom’s crop of psychedelic mushrooms and would get most favoured nation pricing. The LOI is subject to both ShroomBloom and Pure Extracts holding Dealer's Licences under the Controlled Drugs and Substances Act (CDSA). Announcement • Mar 04
Pure Extracts Technologies Corp. Submits Dealer’s Licence Application to Health Canada Pure Extracts Technologies Corp. announced that its wholly owned subsidiary, Pure Mushrooms Corp., has submitted an application to Health Canada for a Dealer’s Licence under the Controlled Drugs and Substances Act (CDSA). The CDSA and its Regulations provide, among other things, the framework for legal access to controlled substances, and the control and regulation of production, distribution, and sale. One of Health Canada’s responsibilities is to provide the licensing and oversight framework for the legal production of controlled substances. Under this framework, a company is required to obtain a licence issued by Health Canada in order to conduct various activities with controlled substances. Licence holders are responsible for compliance with the CDSA and its Regulations as well as compliance with other applicable federal, provincial, and territorial legislation and municipal by-laws. The issued licence dictates activities, conditions, and restrictions for the licence holder depending on licence permissions. A Dealer’s Licence could allow for the following activities: Procurement of controlled substances, including by import, synthesis, propagation, cultivation and harvesting of psychedelic mushrooms for psilocybin extraction Research and manufacture of controlled substances such as psilocybin and psilocin Business-to-business sale of controlled substances, including by export Sale of controlled substance via pharmacies. Announcement • Feb 28
Pure Extracts Submits Application to Health Canada for Sales License Pure Extracts Technologies Corp. announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has submitted an application to Health Canada to amend its license to permit the sale of cannabis extract products to provincially authorized distributors and retailers nationwide. The Company recently announced a distribution agreement with large Canadian Licensed Producer to distribute Pure Extracts' vape and edible products through their established provincial distribution channels and thus, Pure Extracts expects to have significant sales momentum for its `Pure Pulls' and `Pure Chews' branded products by the time the Company receives its sales licence amendment from Health Canada. Pure Extracts is continuing to develop its portfolio of cannabis 2.0 products with emphasis on its 34 proprietary formulations of `Pure Pulls' branded full spectrum oil (FSO) vape products and on its new line of `Pure Chews' edible gummies being produced under licence from Taste-T, LLC, the manufacturer of Fireball cannabis gummies. Announcement • Feb 25
Pure Extracts Technologies Corp. Submits Multiple SKUs to Health Canada for Approval Pure Extracts Technologies Corp. announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp.’s distribution partner has submitted a Notice of New Cannabis Product (“NNCP”) application to Health Canada on behalf of the company seeking approval for its retail cannabis products including cannabis extracts and edible cannabis. The company submitted over 20 Stock Keeping Unit (SKU) product identifiers for approval including THC vapes, CBD vapes, 1:1 blended vapes, and 3 different flavours/formulations of gummies. The company plans to launch these products under its ‘Pure Pulls Vapes’ and ‘Pure Chews Gummies’ branded product lines and is looking forward to having them listed for sale with provincially authorized distributors and retailers nationwide. Pure Extracts is continuing to develop its portfolio of cannabis 2.0 products with emphasis on its 34 proprietary formulations of ‘Pure Pulls’ branded full spectrum oil (FSO) vape products and on its new line of ‘Pure Chews’ edible gummies manufactured under license from Taste-T, LLC, the manufacturer of Fireball cannabis gummies. Is New 90 Day High Low • Feb 16
New 90-day high: CA$0.81 The company is up 40% from its price of CA$0.58 on 18 November 2020. The Canadian market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Pharmaceuticals industry, which is up 75% over the same period. Announcement • Feb 16
Pure Extracts Agrees to Licensing Deal with Taste-T, LLC for Fireball Cannabis Gummies Pure Extracts Technologies Corp. announced its licensing deal with U.S. based Taste-T, LLC. Pure Extracts has signed an agreement with exclusive rights for Canada and first rights to other countries around the world. Included in the agreement is the delivery to Pure Extracts’ British Columbia facility of one of Taste-T’s custom built gummie manufacturing machines, certified to Canadian standards. Pure Extracts will be selling these products in a Health Canada compliant format in licensed dispensaries throughout Canada under their ‘Pure Chews’ brand of edible products. Announcement • Feb 10
Pure Extracts Technologies Corp. Announces its First Commercial Sale of CBD Oil on the Wholesale Market Pure Extracts Technologies Corp. announced that it recently contracted its first commercial sale of CBD oil. Pure Extracts is preparing to deliver the first of what it believes will be multiple shipments this year of its 85% pure CBD distillate under this contract. The Company’s high purity distillate is ideally suited for use in most cannabis 2.0 products including edibles, vape pens and beverages. Pure Extracts uses its sub-critical/super-critical CO2 extraction system to create exceptionally pure THC and CBD full spectrum oil and distillate in order to meet the rigorous demands of its customers. Announcement • Jan 26
Pure Extracts Enters into Biomass Purchase Agreements to Support Oil Extract Production Pure Extracts Technologies Corp. announced that it has entered into its first substantial biomass purchase agreements in order to scale-up its production of both THC and CBD extracts. The Company has recently agreed to purchase 220 kgs of high potency THC cannabis dried flower from a large, Canadian Licenced Producer and it has also agreed to purchase 1,000 kgs of high potency CBD biomass from a top, Western Canada, cultivator. With biomass prices touching new lows, the Company believes that the timing was right for its first strategic purchases, which will drive revenue growth in First Quarter 2021. The cannabis will be used to produce full spectrum (FSO) THC oil with a minimum purity of 67% and distillate with a minimum purity of 86%. The hemp will be used to produce full spectrum (FSO) CBD oil with a minimum purity of 66% and distillate with a minimum purity of 85%. From these 2 biomass purchases alone, the Company will be able to produce approximately 70 kgs of CBD distillate and 25 kgs of THC distillate. At current wholesale prices of $6,000/kg and $6,800/kg respectively, this biomass could lead to $590,000 in near term sales revenue. Announcement • Jan 22
Pure Extracts Technologies Corp. announced that it has received CAD 8.534633 million in funding On January 21 2021, Pure Extracts Technologies Corp. (CNSX:PULL) closed the transaction. The company issued 16,900,263 special warrants for gross proceeds of CAD 8,534,632.81 in the transaction. The company issued 10,839,230 special warrants for gross proceeds of CAD 5,473,811.14 in its second tranche. The company paid finder fee of CAD 139,501.41 and 395,817 finder's warrants in its final tranche. Each Finder's Warrant entitles the holder thereof to purchase one common share of the company at an exercise price of CAD 0.65 per finder's warrant share until January 20, 2023. Announcement • Jan 14
Pure Extracts Technologies Corp. Delineates Study on Psilocybin Oral Tablets, Capsules and Nasal Gel Pure Extracts Technologies Corp. announced that it has delineated the timetable and milestones for its study on the formulation and manufacturing of psilocybin based active treatments for oral tablets, capsules and a nasal gel that will be used as an investigational product. The study with be conducted at the Toronto Institute of Pharmaceutical Technology by Dr. Alexander MacGregor, a key scientific advisor to the Company. The study will focus on formulating, manufacturing and clinical bioavailability testing of rapid onset psilocybin dosage forms that could be used in future efficacy clinical trials by both Pure Extracts and its pharmaceutical customers. Clinical batch manufacturing, packaging and labelling are all included in the study as is conformity testing and stability testing (including both long-term and accelerated). The study will conform to both Canadian Good Manufacturing Practice and Good Clinical Practice standards. The key milestones in the 250-day timeline for the study on psilocybin immediate release tablets and nasal gel include the following: Sourcing and procurement of medicinal ingredients, excipients & packaging materials, Raw Material Testing, Formulation and Manufacturing Process Development, Stability Testing, Clinical Batch Manufacturing, Quality Control Release Testing and Shipping of Clinical Batches to CRO. Announcement • Dec 30
Pure Extracts Commences Study on Psilocybin Oral Tablets, Capsules and Nasal Gel Pure Extracts Technologies Corp. announced that it is commencing a study on the formulation and manufacturing of psilocybin based active treatments for oral tablets, capsules and a nasal gel that will be used as an investigational product. The study with be conducted at the Toronto Institute of Pharmaceutical Technology (TIPT) by Dr. Alexander MacGregor, a key scientific advisor to the Company. The study will focus on formulating, manufacturing and clinical bioavailability testing of rapid onset psilocybin dosage forms that could be used in future efficacy clinical trials by both Pure Extracts and its pharmaceutical customers. Clinical batch manufacturing, packaging and labelling are all included in the study as is conformity testing and stability testing (including both long-term and accelerated). The study will conform to both Canadian Good Manufacturing Practice (GMP) and Good Clinical Practice (GCP) standards. Announcement • Dec 17
Pure Extracts Technologies Corp. Commences Build-Out of Facility in Preparation for Mushroom Extraction and Dealer's Licence Pure Extracts Technologies Corp. announced that it has begun to build-out the 4th unit in its facility for the extraction of mushrooms and to commence research and development of psilocybin under a Dealer's Licence. The company is preparing an application to Health Canada for a Dealer's Licence under the Controlled Drugs and Substances Act which provides, among other things, the framework for legal access to controlled substances, and the control and regulation of production, distribution and sale of psilocybin. Under this framework, a company is required to obtain a licence issued by Health Canada in order to conduct various activities with controlled substances. Licence holders are responsible for compliance with the CDSA and its Regulations as well as compliance with other applicable federal, provincial and territorial legislation and municipal by-laws. The issued licence dictates activities, conditions, and restrictions for the licence holder depending on licence permissions. A Dealer’s Licence could allow for the following activities: Procurement of controlled substances, including by import, synthesis, propagation, cultivation and harvesting of psychedelic mushrooms for psilocybin extraction; Research and manufacture of controlled substances such as psilocybin and psilocin; Business to business sale of controlled substances, including by export; Sale of controlled substance via pharmacies. Submission of the company’s dealer’s license application is subject to compliance with applicable securities laws, including any necessary approvals by the CSE. Announcement • Dec 15
Pure Extracts Applauds Health Canada SAP for Psilocybin-Assisted Psychotherapy Inclusion Pure Extracts Technologies Corp. announced to support Health Canada’s proposed intent to revise the Special Access Programme (SAP) and related regulations to permit certain authorized uses of psilocybin-assisted psychotherapeutic treatments. The intended SAP revision, announced on December 11th, could lead to important new medical applications, particularly in the complex and growing mental health sector. Health Canada’s announcement could act as a milestone achievement driving advanced research initiatives forward. This includes several ongoing clinical trials that consistently indicate breakthrough therapy potential of psilocybin-assisted psychotherapy for a number of mental health patients suffering from conditions where conventional therapies have failed or have proven unsuitable. The proposed SAP update emphasizes the strategic importance of Pure Extracts engagement of a globally recognized operations, compliance, and regulatory consulting firm to advise on the Company’s application to Health Canada for a Dealers Licence under the Controlled Drugs and Substances Act (CDSA). The CDSA and its Regulations provide the framework for legal access to controlled substances, and the control and regulation of production, distribution, and sale. One of Health Canada’s responsibilities is to provide the licensing and oversight framework for the legal production of controlled substances. Upon acceptance, a Dealer’s License could allow Pure Extracts to engage in the following activities: Procurement of controlled substances, including by import, synthesis, propagation, cultivation and harvesting of psychedelic mushrooms for psilocybin extraction; Research and manufacture of controlled substances such as psilocybin and psilocin; Business to business sale of controlled substances, including by export; Sale of controlled substance via pharmacies Expanding upon the strategic importance of the SAP review, Pure Extracts recently announced a collaboration with Dr. Alexander MacGregor as a key scientific advisor to the Company. Pure Extracts and Dr. MacGregor are collaborating on the development and research of optimum psilocybin extraction methodologies in preparation to service the needs of the rapidly advancing growth and demand in the sector. As previously noted, Dr. MacGregor is the Dean of Faculty, a distinguished Professor of Biopharmaceutics, and current President of the Toronto Institute of Pharmaceutical Technology (TIPT) – North America’s premier post-graduate institute of pharmaceutical sciences, technology and research. He is also the CEO of TIPT’s parent company, Transpharm Canada Inc., which holds a Health Canada Drug Establishment License, a Cannabis Drug License, and a Dealer’s License issued under the Controlled Drugs and Substances Act (CDSA). Transpharm Canada conducts clinical trials, drug development and is licensed to possess psychedelic drug compounds. Announcement • Dec 03
Pure Extracts Collaborates with Dr. Alexander Macgregor on Cannabis and Mushroom Formulations Pure Extracts Technologies Corp. provide an introduction to Dr. Alexander MacGregor, a key scientific advisor to the Company. Pure Extracts and Dr. MacGregor are collaborating on the development of CBD infused mushroom wellness products and are researching the optimum extraction methodologies for psilocybin in order to prepare the Company to enter the psychedelic mushroom extraction space. Announcement • Nov 27
Pure Extracts Technologies Common Shares to Be Deleted from Other OTC Pure Extracts Technologies Corp.’s Common Shares will be deleted from Other OTC effective November 27, 2020, due to Inactive Security. Announcement • Nov 26
Pure Extracts Technologies Corp. Advances Plans for the Processing of Functional Mushroom Formulations Pure Extracts Technologies Corp. provided an update and overview regarding its expansion into the functional mushroom wellness sector. With interest in functional and medicinal mushrooms climbing sharply, particularly regarding medicinal opportunities, the outlook appears promising for the sector. Pure Extracts has noted recent announcements showing increased institutional interest in the field of psychedelics in general and with a focus on promising mushroom varieties such as psilocybin specifically. As a study candidate psilocybin is being looked at for treatment options including depression, anxiety, PTSD, bipolar disorder, Alzheimer’s disease and addiction. The U.S. Food and Drug Administration status on the use of psychedelics appears to be evolving, subsequent to breakthrough therapy status for treatment-resistant depression in 2020 which appears poised to receive approvals in 2021. As a result of the encouraging and growing interest in the sector, Pure Extracts has commenced the expansion of its business model to include mushroom formulations through the use of extraction processes that have proven compatible with its existing infrastructure. The Company is working closely with its scientific advisor, Alexander MacGregor to develop high bio-available products and novel delivery methodologies including pills, capsules, and edibles. Furthermore, the Company believes that there exists a significant opportunity for it to become an important extraction partner for the commercialization of new functional mushroom products designed with purity and consistency in mind. In that regard, Pure Extracts has signed a Letter of Intent with one of Canada’s leading functional mushroom wellness brands to co-develop CBD enhanced mushroom products. Looking further ahead, Pure Extracts aims to eventually enter the growing field of psychedelic mushroom processing as an additional aspect of its diverse extraction market penetration strategy. In the interim, three functional products such as lion’s mane, turkey tail and reishi are being created under the ‘Pure Mushrooms’ brand. In herbal medicine, these products are thought to boost memory, support the immune system or reduce stress. Pure Mushrooms products are projected for availability by the end of First Quarter 2021 via direct-to-consumer sales utilizing the Company’s capital efficient, e-Commerce web portal. The creation of these products will validate the Company’s processes and capabilities and prepare it as additional strains become available.