Pure Global Cannabis Inc. (TSXV:PURE, OTC:PRCNF, FRA:1QS) (“Pure Global” or “PURE”) an integrated, growth-oriented life sciences and consumer products cannabis company, through its wholly-owned subsidiary PureSinse Inc. (“PureSinse” or the “Company”), a Health Canada licensed producer under The Cannabis Act, is pleased to announce that it has received approval from Health Canada for its most recent license amendment request allowing for the sale of cannabis oil products, including high cannabidiol (“CBD”) and premium craft cultivars that will become available soon for medical and legal adult patients.
This licensing will allow the Company to significantly expand its product offerings to the medical and consumer markets with oils and post-derivative cannabis products, which are seeing growing demand. Oils and post-derivatives will be deployed throughout the Company’s brand ecosystem, especially as edibles and post-derivative products regulations come into being this fall. This will enable the company to significantly expand consumer sales through higher margin products.
The Company already has prepared oils formulations, as well as purification, processing, and packaging equipment in place for this next phase of operations. It has the capacity to purify, formulate, and process 10 liters of oil per day, 10,000 capsules per hour, 10,000 vape cartridges per hour, and 2,000 oils bottles per hour. With Health Canada approval for oil sales, the Company can release its line of extraction-based products which will soon be available through its PureSinse Medical eCommerce site, as well as legal retail cannabis stores across Canada. Pure Global had already expanded production capabilities, anticipating license approval, to include in-house production of medicated topicals, creams, gels, balms, lotions, tinctures, sprays, vape pens, oils bottles, and gel capsules.
This licensing also clears the path for Health Canada approvals for Phase 2 cultivation and extraction, for which the Company has already submitted its readiness package and is in final stages of approvals. With over 80 genetics to choose from, the company is ready to begin vertically farmed cultivation and scaled extraction for its branded and for white labeled products.
“This is an important milestone in our company’s history which will significantly expand our product offerings for the medical and legal adult channels. We will be able to sell high-margin oils and post-derivative products across all of our premium brands and will be one of only and handful of Licensed Producers to be able to do so. Over 50% of medical patients are looking for post-derivative products as well as those in our target consumer markets, which we will now be much better able to serve,” commented Malay Panchal, President and CEO of Pure Global.
About Pure Global Cannabis
Pure Global Cannabis Inc. is an innovation-based cannabis company led by experienced pharma, biotechnology, horticultural, and consumer packaged goods (CPG) experts. The company’s wholly owned subsidiary, PureSinse Inc., is a licensed producer under the Cannabis Act. The company’s Brampton campus houses facilities for vertically farmed cultivation, R&D, extraction, manufacturing, and distribution. Pure Global will produce branded and white-labeled cannabis products for the medical, pharmaceutical, wellness, health & beauty, natural health, food & beverage, craft, and recreational legal markets with uniquely formulated and purified concentrates and dried flower. The company is using the Canadian market as a springboard to develop and manufacture euGMP-compliant premium quality cannabis products for international sale and distribution with a goal to become one of the most trusted premium international cannabis brands.
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.
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