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With About $945 Million in 2020 Sales, Michigan’s Cann-abis Market Could be As Hot as California’s(1)

With Pure Extracts Technologies’ Entrance Into Michigan, The State’s Potential $3 Billion Market Explosion(9) Could Create a Historic Opening

Canada CSE: (PULL) United States OTC: (PRXTF)

Cann-abis is all over the headlines.

More states are just starting to legalize its use.  Some in Congress are even pushing for legalization at the federal level.(2) Meanwhile, Americans are overwhelmingly supportive of its use, with 91% of U.S. adults saying cann-abis should be legal, according to the Pew Research Center.(3)

A Gallup poll even shows support for legalization is up to a new high of 68%.(4)

At this pace, it may only be a matter of time before we see full-blown legalization.

That’s game-changing news for companies like Pure Extracts Technologies Corp. (Canada CSE: (PULL) United States OTC: (PRXTF) Germany (A2QJAJ)), which is entering that red hot U.S. market through a joint venture in Michigan.(5)

Why Michigan?

  • According to Bruce Linton, co-founder and former CEO of Canopy Growth, “Michigan is one of the fastest growing cann-abis markets in the U.S.”(5)
  • According to the Michigan Ma-riju-ana Regulatory Agency (MRA),  Michigan cann-abis sales just increased about 160% year over year to roughly $106.2 million in February, with medical sales improving around 48% to approximately $38.1 million. Adult use sales have also soared about 353% to nearly $68.1 million.(5)
  • In March, Michigan’s medical and recreational market saw sales of approximately $115.4 million, more than double what it saw a year earlier.(6)

Better, analysts believe Michigan could have the same potential as California, which saw about $4.4 billion in cann-abis sales in 2020 alone – 50% more than 2019.(7)

In Michigan, 2020 sales came in at an estimated $984.6 million.(1) In 2021, sales are expected to balloon to more than $1 billion.(8) Furthermore,  according to Andrew Brisbo, executive director of the Ma-riju-ana Regulator, the market could have approximately $3 billion sales potential.(9)

In short, we’re looking at a potentially massive opportunity here — especially once you consider Michigan could service other northeastern states, like New York, Illinois, Massachusetts, and Pennsylvania should we see can-nabis legalization at the federal level.

WATCH VIDEO: Pure Extracts Technologies Corp.

Top 10 Reasons to Consider Pure Extracts Technologies Corp.
Canada CSE: (PULL) United States OTC: (PRXTF) Germany (A2QJAJ)

  1. More states are starting to legalize cann-abis for medicinal and/or recreational purposes.
  2. Some in Congress are pushing for legalization at the federal level.(2)
  3. Americans seem overwhelmingly supportive of its use, with around 91% of U.S. adults saying cann-abis should be legal, according to the Pew Research Center.(3) A Gallup poll also shows support for legalization is up to a new high of roughly 68%.(4)
  4. As Pure Extracts Technologies (Canada CSE: (PULL) United States OTC: (PRXTF) Germany (A2QJAJ) enters the U.S. market through a joint venture in Michigan, this is massive news.
  5. According to Bruce Linton, co-founder and former CEO of Canopy Growth, “Michigan is one of the fastest growing cann-abis markets in the U.S.”(5)
  6. According to the Michigan Ma-riju-ana Regulatory Agency (MRA),  Michigan cann-abis sales just increased about 160% year over year to roughly $106.2 million in February, with medical sales improving around 48% to approximately $38.1 million. Adult use sales have also soared about 353% to nearly $68.1 million.(5)
  7. In March, Michigan’s medical and recreational market saw sales of approximately $115.4 million, more than double what it saw a year earlier. (6) Better, analysts say Michigan could have the same potential as California, which saw about $4.4 billion in cann-abis sales in 2020 alone – 50% more than 2019.(7)
  8. Pure Extracts Technologies just commenced production of roughly 25,0000 vape cartridges in preparation for retail distribution to the Canadian market. Retail sales revenue for its first production run could come in at about $750,000.(10)
  9. The company also just commenced an initial production run of about 50,000 gummies packs for provincial distribution.(11)
  10. Pure Extracts and Psyence Group just signed a JV letter of intent for the extraction of psilo-cybin, and the development of psilo-cybin-based formulations.(12)

Pure Extracts Technologies Corp. Looks Technically Bullish

Canada CSE: (PULL) United States OTC: (PRXTF) Germany (A2QJAJ)

Pure Extracts Technologies trades at about $0.35 and could be potentially oversold. With sizable growth in store for cann-abis, and its entry into the U.S. market, the stock could have the potential to retest its prior peak of roughly $0.83.

Why’s that? Simply put, there are multiple catalysts for potentially massive growth.

  • For one, it’s entering the U.S. market through a JV in Michigan.
  • Two, it just commenced production of about 25,0000 vape cartridges in preparation for retail distribution to the Canadian market.  Retail sales revenue for its first production run could come in at about $750,000.
  • Three, it just commenced an initial production run of roughly 50,000 gummies packs for provincial distribution after agreeing to a licensing deal with Taste-T LLC, the U.S. manufacturer of Fireball Cann-abis Gummies.  Pure Extracts has plans to replicate the success Taste-T LLC has experienced U.S. states including Nevada, Massachusetts, Michigan and Oklahoma.(22)
  • Four, it just signed a JV letter of intent with the Psyence Group to extract psilo-cybin and the development of psilo-cybin-based formulations.

Just Who is Pure Extracts Technologies Corp.?

Canada CSE: (PULL) United States OTC: (PRXTF) Germany (A2QJAJ)

Pure Extracts is a company positioned for growth in the commercial CB, green leaf, and psych-edelics sector based on extensive extraction and production experience. With a team of qualified experts in the space and cutting-edge CO² and ethanol extraction technology, the company could be positioned for long-term strategic distribution and product innovation.

The company’s facility located in Pemberton, BC is built for EU-GMP certification (allowing for international sales) and aims to produce high quality, high purity formulations on a commercial scale. Solvent free, scalable production allows Pure Extracts to develop and deliver white-label formulations to service contract sales.(14)

Furthermore, the company just signed a Letter of Intent with the affiliate of a publicly traded multi-state operator (MSO) to form a Joint Venture to install a cann-abis and hemp extraction system in an existing Michigan facility.(15)

This MSO has a long history of success in Oregon, offering various high-quality products. These products are also grown and packaged in Michigan for retail sale in over 100+ dispensaries throughout the state.

The companies plan to join forces in Michigan by combining the MSO affiliate’s local permitting, licensing, and marketing expertise with Pure Extracts’ extraction, expertise, and manufacturing skills. The venture partners plan to build out roughly 2,600 sq. ft. of existing, under-utilized space in the MSO’s current facility, strategically located in central Michigan within a 2-hour drive of several major markets.

Plus, over the last five years, the company has:(13)

  • Proven technology for extraction use, CO2 Vitalis systems, and ethanol equipment.
  • Purpose-built EU GMP compliant extraction facility north of Whistler, BC, which allows for international sales.
  • Experience creating multiple successful CPG products and brands.

In addition, Pure Extracts’ wholly owned subsidiary, Pure Mush-rooms Corp. has ordered its first shipment of functional mush-rooms from its British Columbia co-packer.

Pure Mush-rooms has developed three premium, functional mush-room formulations, that come in safe and convenient vegan capsules. These products will be available through its online e-Commerce store with sales of Reishi and Maitake formulations expected to commence in April and sales of a Lion’s Mane formulation expected to commence in June.

That could expose the company to a potential $34.3 billion global functional foods market by 2024.(20)

Pure Extracts is Also Involved in the Psilo-cybin Story

For one, Pure Extracts and the Psyence Group just signed a JV letter of intent for the extraction of psilo-cybin, and the development of psilo-cybin-based formulations.(12)

Two, the company just announced it began a study on the formulation and manufacturing of psilo-cybin based active treatments for oral tablets, capsules and a nasal gel that will be used as an investigational product.

Three, most recently Pure Extracts signed a Letter of Intent (LOI) with ShroomBloom Labs/Floja Bioscience I to enter into an agreement for the supply of psychedelic mush-room biomass.

Pure Extracts CEO, Ben Nikolaevsky, remarked, “A supply agreement with a world-class cultivator like ShroomBloom would ensure a reliable source of high-quality, high-potency, psychedelic mush-room biomass for our extraction facility so that we can produce plenty of psilo-cybin for our formulation R&D activities and for any resulting clinical trials.”

Fueling psilo-cybin growth, the US FDA recognized psilo-cybin as a potentially “breakthrough therapy” for depression.(16) Clinical studies from prestigious institutions such as Johns Hopkins Medicine, and New York University also appear to be showing positive results.

Plus:

  • A study from JAMA Psychiatry just found that psilo-cybin “worked better than the usual antidepressant medications,” as noted by NPR.(17)
  • Johns Hopkins Medicine launched the Center for Psych-edelic and Consciousness Research to study various compounds to treat a range of mental health problems, including anorexia, addiction and depression.(18)
  • A study in the journal, Nature — Psilo-cybin for treatment-resistant depression: fMRI-measured brain mechanisms – showed that about 47% of treatment-resistant patients with depression showed positive responses five weeks after psilo-cybin treatments.(19)

Even state and local governments are legalizing its use. Oregon became the first state to officially decriminalize the possession of psych-edelics, joining cities like Denver, Oakland, and Santa Cruz, for example.(21)

The Pure Extracts Technologies Corp. Team Has Solid Experience

Canada CSE: (PULL) United States OTC: (PRXTF) Germany (A2QJAJ)

Ben Nikolaevsky
Chief Executive Officer 

Mr. Nikolaevsky holds over a decade of experience in corporate leadership roles across the natural products, agriculture and cann-abis sectors. Under his recent leadership as President & CEO of Natura Naturals Inc., a private Canadian cann-abis licensed producer, the company was acquired by Tilray Inc. Prior to Natura, he was president & CEO of Blue Goose Capital Corp. Mr. Nikolaevsky served as Market Vice President, National Accounts at CIBC and as Chief Credit Officer & Capital Markets Manager at IBM Global Financing Canada.

Doug Benville
Chief Operations Officer, Founder 

Doug Benville has several years of experience in the cann-abis space. He is highly proficient in cann-abis cultivation, system operations and oil extraction. Mr. Benville has been with Pure Extracts since the company’s inception.

Alexander Logie
Director of Business Development 

Mr. Logie is a serial entrepreneur with 30+ years of experience in the financial services sector. He co-founded Crane Capital and Mercury Capital, both successfully acquired by asset management firms. Mr. Logie recently held the position of interim CFO, acting COO and SVP of Business Development at Natura Naturals Inc., a privately held licensed producer of cann-abis that was acquired by Tilray Inc. (Nasdaq: TLRY) at the start of 2019.

Andy Gauvin
Director of Sales 

Mr. Gauvin is an accomplished, bilingual, senior sales leader that brings over 30 years of experience in the Cann-abis and Beverage Alcohol space. Most recently, Mr. Gauvin was the Vice President of Sales with a startup licensed cann-abis producer,  Natura Naturals. He established relationships with key provincial cann-abis customers, developed sales strategies and played an important role in product development. In his previous role as Vice President of Sales Canada, with Moosehead Breweries, he built and developed a National Sales Strategy that incorporated all of the unique aspects from each province including jurisdiction P&L, formal sales management and built a sales culture that held sales people accountable and focused on results. Andy also brings extensive knowledge of navigating the complex federal and provincial regulatory environment.

Dwight Duncan
Director

Mr. Duncan serves as a Senior Strategic Advisor at McMillan LLP, a large Canadian full-service business law firm. Mr. Duncan also serves as a Principal of McMillan Vantage, the firms wholly owned public policy advisory firm. Mr. Duncan also Chairs the Board of Directors of the Windsor Detroit Bridge Authority, the federal crown corporation overseeing the construction and operation of the $5.7 billion Gordie Howe International Bridge. Mr. Duncan was formerly a Member of the Ontario Legislature, where he served as Deputy Premier, Minister of Finance, Chair of the Management Board of Cabinet, Chair of Cabinet, Government House Leader, Minister of Energy, Minister of Revenue, Minister of Government Services and Opposition House Leader. Mr. Duncan currently sits on the Board of Directors, and Chairs the Audit Committees, of Travelers Insurance Canada and the Dominion General Insurance Company. In addition, Mr. Duncan sits on the Boards of Directors of Crown Crest Trust, and the Global Risk Institute. Mr. Duncan holds a Bachelor of Commerce (Hons) and MBA (University of Windsor) as well as a B.A. (Economics – McGill University).

Top 10 Reasons to Consider Pure Extracts Technologies Corp.

Canada CSE: (PULL) United States OTC: (PRXTF) Germany (A2QJAJ)

  1. More states are starting to legalize cann-abis for medicinal and/or recreational purposes.
  2. Some in Congress are pushing for legalization at the federal level.(2)
  3. Americans seem overwhelmingly supportive of its use, with around 91% of U.S. adults saying cann-abis should be legal, according to the Pew Research Center.(3) A Gallup poll also shows support for legalization is up to a new high of roughly 68%.(4)
  4. As Pure Extracts Technologies Canada CSE: (PULL) United States OTC: (PRXTF) Germany (A2QJAJ) enters the U.S. market through a joint venture in Michigan, this is massive news.
  5. According to Bruce Linton, co-founder and former CEO of Canopy Growth, “Michigan is one of the fastest growing cann-abis markets in the U.S.”(5)
  6. According to the Michigan Ma-riju-ana Regulatory Agency (MRA), Michigan cann-abis sales just increased about 160% year over year to roughly $106.2 million in February, with medical sales improving around 48% to approximately $38.1 million. Adult use sales have also soared about 353% to nearly $68.1 million.(5)
  7. In March, Michigan’s medical and recreational market saw sales of approximately $115.4 million, more than double what it saw a year earlier. (6) Better, analysts say Michigan could have the same potential as California, which saw about $4.4 billion in cann-abis sales in 2020 alone – 50% more than 2019.(7)
  8. Pure Extracts Technologies just commenced production of roughly 25,0000 vape cartridges in preparation for retail distribution to the Canadian market. Retail sales revenue for its first production run could come in at about $750,000.(10)
  9. The company also just commenced an initial production run of about 50,000 gummies packs for provincial distribution.(11)
  10. Pure Extracts and Psyence Group just signed a JV letter of intent for the extraction of psilo-cybin, and the development of psilo-cybin-based formulations.(12)

Source 1: https://bit.ly/3sPB53A
Source 2: https://politi.co/3ndMg57
Source 3: https://pewrsr.ch/3nggGU3
Source 4: https://bit.ly/3xj59YJ
Source 5: https://pureextractscorp.com/news/pure-extracts-to-enter-us-market-through-jv-in-michigan
Source 6: https://bit.ly/3gyIBgN
Source 7: https://bit.ly/3xgEuMi
Source 8: https://bit.ly/32F1t5t
Source 9: https://bit.ly/3nqSrmx
Source 10: https://pureextractscorp.com/news/pure-extracts-commences-production-of-25000-vape-cartridges-in-preparation-for-retail-distribution
Source 11: https://pureextractscorp.com/news/pure-extracts-commences-initial-production-run-of-50000-gummie-packs-for-provincial-distribution
Source 12: https://bit.ly/3tNTyyH
Source 13: https://pureextractscorp.com/wp-content/uploads/2020/10/PURE-EXTRACTS-Presentation.pdf
Source 14: https://pureextractscorp.com/about
Source 15: https://pureextractscorp.com/news/pure-extracts-to-enter-us-market-through-jv-in-michigan
Source 16: https://bit.ly/2S2ROE5
Source 17: https://n.pr/3tMGQAs
Source 18: https://bit.ly/2QrHO6H
Source 19: https://www.nature.com/articles/s41598-017-13282-7
Source 20: https://www.globenewswire.com/news-release/2020/01/13/1969374/0/en/The-global-functional-food-market-is-forecasted-to-reach-USD-34-3-billion-by-2024-growing-at-a-CAGR-of-8-04-during-the-forecast-period-2019.html
Source 21: https://on.wsj.com/3niUOHY
Source 22: https://finance.yahoo.com/news/pure-extracts-commences-initial-production-130000630.html

 

Pure Extracts Technologies Corp

Pure Extracts Technologies Corp. is plant-based extraction company. The Firm focuses on development and commercialization of functional and medicinal products. Pure Extracts Technologies will serve customers worldwide.

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