Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, today announced that it signed a letter of intent (“LOI”) with ShroomBloom Labs/Floja Bioscience Inc. to enter into an agreement for the supply of psychedelic mushroom biomass. British Columbia-based ShroomBloom is a mushroom cultivator leveraging a unique growing method that uses a sustainable forest product to grow organic Psilocybe Azurescens, also known as Azures, one of the most potent psilocybin mushrooms ever found. Under the terms of the LOI, Pure Extracts would be granted “most favoured nation” pricing and preferential access to ShroomBloom’s crop of psychedelic mushrooms. “A supply agreement with a world-class cultivator like ShroomBloom would ensure a reliable source of high-quality, high-potency, psychedelic mushroom biomass for our extraction facility so that we can produce plenty of psilocybin for our formulation R&D activities and for any resulting clinical trials,” said Pure Extracts CEO Ben Nikolaevsky.
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About Pure Extracts Technologies Corp.
Pure Extracts 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. On Sept. 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act and the company’s stock began trading on the Canadian Securities Exchange (“CSE”) on Nov. 5, 2020. For more information, visit the company’s website at www.PureExtractsCorp.com.
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