Pure Extracts and Canada House Sign Supply Agreement for Medicinal Cannabis Products
VANCOUVER, British Columbia and LOUISEVILLE, Québec, June 24, 2021 (GLOBE NEWSWIRE) — Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts”) a plant-based extraction company, focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, and Canada House Wellness Group (CSE: CHV) (“Canada House”), a fully integrated medical cannabis company (together, the “Companies”), are pleased to announce that they have entered into a medical supply agreement (the “Agreement”). Under the terms of the Agreement, Canada House’s wholly owned subsidiary, Abba Medix Corp. (“Abba”), will purchase Pure Extracts’ full line of concentrate products, including CBD, THC and blended vapes and CBD and THC gummies, for sale to its established medical patient base.
“We are excited to work with Pure Extracts and add their high-quality products to Abba’s extensive portfolio of medical products. Pure has established itself as one of the premier brands in the country and being able to onboard quality products like this aligns squarely with CHV’s strategy of offering the highest quality medical cannabis products to our registered patients, particularly the Veteran community,” commented Chris Churchill-Smith, Canada House CEO.
Pure Extracts’ CEO, Ben Nikolaevsky, added, “This Agreement marks our entry into the medical cannabis space which will make a significant revenue contribution starting in Q4 and ramping-up in 2022. Abba’s extensive military and medical customer base along with their popular online portal allows us to quickly and efficiently get our outstanding line of full spectrum oil (FSO) CBD and THC vape products and our blister-packaged gummie products, including our ultra-high potency 100 mg CBD chews, to their patients across Canada.”
ON BEHALF OF THE BOARD
“Ben Nikolaevsky”
Ben Nikolaevsky
CEO and Director
About Pure Extracts (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)
Pure Extracts Technology Corp. features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. Health Canada, under the Cannabis Act, granted Pure Extracts its Standard Processing License on September 25, 2020. The Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020.
Find out more at https://pureextractscorp.com/.
For more information:
Pure Extracts Investor Relations
Tel: +1 604 493 2052
info@pureextractscorp.com
About Canada House Wellness Group
Canada House Wellness Group is the parent company of Abba Medix Corp., a Licensed Producer in Pickering, Ontario that produces high quality medical grade cannabis; IsoCanMed Inc., a Licensed Producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility employing state-of-the-art vertical, aeroponic production methodologies; Canada House Clinics Inc., with clinics across the country that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions; and Knalysis Technologies, a provider of fully customizable, cloud-based software that links physician, provider, and patient to data that supports treatment with medical cannabis.
Canada House Wellness Group’s goal is to become the leading cultivator of premium craft cannabis and provider of cannabinoid therapy, targeting the medical cannabis markets globally. Please visit www.canadahouse.ca or Canada House’s public filings at www.sedar.com.
For further information:
Steven Pearce, Vice-President, Legal, Canada House Wellness Group at 289-980-3584.
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements, including statements that relate to, among other things, the Companies’ clinics, production and technology businesses, their future plans, the Companies’ markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “possible”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective” and “continue” (or the negative thereof) and words and expressions of similar import. Although the Companies believe that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material assumptions used to develop forward-looking information in this news release include, among other things, the regulations related to cannabis use under the Access to Cannabis for Medical Purposes Regulations and the act respecting cannabis and to amend the Controlled Drugs and Substances Act, the Criminal Code and other Acts, passed by the Canadian Federal government, making cannabis and cannabis based edibles, vapes and oils legal for recreational use on October 17, 2018 and October 17, 2019; Companies’ liquidity and capital resources, including the availability of additional capital resources to fund their activities; level of competition; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; and the ability to execute strategic plans. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Companies’ most recent annual and interim Management’s Discussion and Analysis under “Risk and Uncertainties” as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Companies do not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
