InvestorWire NewsRoom

Article

Health Canada Grants Selected Physicians Access to Psilocybin Mushrooms as Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Dives into Functional Mushroom Market
January 12, 2021

Health Canada Grants Selected Physicians Access to Psilocybin Mushrooms as Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Dives into Functional Mushroom Market

  • Health Canada recently granted psilocybin testing access to selected physicians
  • Psilocybin mushrooms shown to help patients suffering from addiction, mental health issues
  • Pure Extracts’ ’Pure Mushrooms’ and ‘Pure Pulls’ branded products expected to be available by end of Q1 2021

In a recent virtual townhall, Canadian Health Minister Patty Hajdu disclosed that the Canadian government has recently granted access to psilocybin or “psychedelic” mushrooms to several physicians for use in patients with addiction and/or mental health issues (https://ibn.fm/j9ZAO). In line with anticipated legislation expected to loosen restrictions on psilocybin mushrooms, Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a Canadian plant-based extraction company with a new vertical in functional mushrooms, is currently positioning itself to be the dominant extraction company and leader in the rapid development and commercialization of functional and medicinal products.

Hajdu’s comments were part of a discussion on several health-related topics at a recent Vancouver B.C. virtual townhall with the Honourable Hedy Fry, a Canadian parliament representative. In response to Fry’s questions concerning the use of psilocybin mushrooms, Hajdu disclosed that the government was taking the discussion into the mainstream by granting some physicians access to the mushrooms for testing purposes.

“Health Canada approved some physicians access to psilocybin mushrooms to test,” said Hajdu. “We are still testing these mushrooms and their effects, and we are taking these discussions out of the shadows and into more of a mainstream conversation.”

In anticipation of relaxed laws around the use of psilocybin mushrooms, Pure Extracts is building-out its existing cannabis-processing infrastructure to accommodate mushroom extraction processes as part of its overall market penetration strategy. The Company operates out of its state-of-the-art facility in British Columbia, Canada that is built to European Union GMP standards for the purpose of obtaining EU-GMP certification in order to export to European countries, where both cannabis and functional mushroom products are legal for sale and consumption.

Rather than operate in the saturated cultivation market, Pure Extracts instead purchases in bulk from Licensed Producers for further extraction processing via a Health Canada Standard Processing License granted to Pure Extracts Manufacturing Corp., its wholly-owned subsidiary. Along with both cannabis and hemp biomass processing and white labeling for Licensed Producers, the Company has also developed private label products that include the mushroom-based ‘Pure Mushrooms’ line and the ‘Pure Pulls’ line of cannabis products.

“We intend to launch these products in Q1 from an online portal that we are developing,” said Pure Extracts’ CEO, Ben Nikolaevsky (https://ibn.fm/PNO63). “Functional mushrooms have been identified as the new ‘wonder’ product in the wellness space and have been rapidly growing in popularity, so this is a very exciting move for us.”

Pure Extracts was incorporated under the British Columbia Business Corporations Act and is headquartered just north of Whistler, British Columbia. Along with being granted its Standard Processing License by Health Canada on September 25, 2020, the Company also started trading on the Canadian Securities Exchange on November 5, 2020 under the symbol “PULL”.

For more information, visit the company’s website at www.PureExtractsCorp.com.

NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://ibn.fm/PULL 

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).