- Research indicates that functional and medicinal mushrooms offer range of physical and mental benefits
- Pure Extracts’ milestone-based strategy catalyzing Company growth
- Strategy includes license procurement, production, marketing of in-house and white label products
Mainstream science is now catching up with what traditional medicine has known for years — that functional and medicinal mushrooms can help treat disease, improve mental cognition and fire up digestion. Pure Extract Technologies Inc., a soon-to-be public, plant-based Canadian extraction company, is on track to position itself as an industry leader through a strategy based on three growth-focused milestones that include the application to Health Canada for a Natural Health Products site license, production and product marketing.
Interest in functional and medicinal mushrooms has skyrocketed in recent years – particularly for medicinal varieties such as psilocybin currently being studied as a treatment option for depression, anxiety, PTSD, bipolar disorder, Alzheimer’s disease and addiction (https://cnw.fm/iAtKW). FDA status on the use of psychedelics appears to be promising, especially since medicinal mushrooms were granted breakthrough therapy status for treatment-resistant depression in 2020 with approvals expected in 2021 (https://cnw.fm/tbJPf).
Pure Extracts is positioned to benefit from the growing market for functional and medicinal mushrooms and has already progressed significantly towards becoming an industry leader through its milestone-based strategy. The first phase involved completing the expansion of the Company’s 10,000 sq. ft., state-of-the-art processing facility earlier this year, followed by the submission of an evidence package to Health Canada seeking a Standard Processing Licence.
Having recently received its Standard Processing License from Health Canada, the Company is currently commencing operations and sales for extraction tolling services and white-label products. The third milestone includes full production, compliance testing, submission of private label products to Health Canada and secure distribution with provincial governments. This last milestone involves the activation of sales and marketing campaigns for the Company’s nationally-recognized product lines.
Along with functional and medicinal mushrooms, Pure Extracts is also successfully engaged in the hemp industry through three additional verticals that include marketing for in-house brands, conversion of raw hemp into marketable products and providing white labeling services for existing brands. The Company’s activities are supported by an advisory agreement with Dr. Alexander MacGregor, founder of Transpharm Canada Inc. — company that provides third-party clinical trial services through its Good Manufacturing Practice (“GMP”) manufacturing and testing facility that is fully compliant and licensed by Health Canada.
Pure Extracts is leveraging the current transitory state of the functional mushroom market, considered by some analysts to still be in its early stages where dry biomass is still being converted to extracts. The Company’s milestone-based strategy will ensure it grows and moves forward as a leader as it strives to produce consistent, pure mushroom extracts while acceptance of mushrooms wellness products by the mainstream public continues to grow.
For more information, visit the Company’s website at www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to Pure Extracts are available in the company’s newsroom at http://cnw.fm/Pure
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