- “Mushrooms are having a moment,” reports “Forbes” article
- Sector projected to benefit from both users, investors
- Pure Extracts Technologies well positioned to partner with organizations eyeing development in both functional, psychedelic products
In what “Forbes” magazine is calling a “moment,” mushrooms are seeing rising popularity as growing numbers of people are interested in using the fungi as well as investing in them. This is great news for companies such as Pure Extract Technologies (“Pure Extracts”), a Canadian plant-based extraction company entering the functional medicinal mushroom space and collaborating in the psychedelic space
“Psychedelics have been a mainstay for a millennia and appreciated in the counter-culture for decades,” observes the article, titled “Psychedelic Events Are Going Mainstream, Where The Much-Maligned Mushroom Industry Focuses On Mental Health” (http://ibn.fm/10yfG). “In 2020, whether consuming, investing, or both, mushrooms are having a moment.” The article, which notes psychedelics’ potential to impact and improve mental health, mentions several upcoming events focused on psychedelic science, innovation and investment opportunities.
These events lend validity to the expanding psychedelic — and functional — mushroom market. Projections call for the global functional mushroom market to grow by a CAGR of 8.04% from 2019 through 2024 (http://ibn.fm/EVDxw), as functional mushrooms are used in a variety of health-care and pharmaceutical products. In addition, the depression medication market, where psychedelic mushrooms are showing strong potential, was projected to grow from $14.5 billion in 2014 to nearly $17.0 billion this year (http://ibn.fm/yoIoo).
Pure Extracts is well positioned to partner with organizations eyeing development in both functional and psychedelic products. The Company’s business model consists of three verticals: in-house brands; toll processing, or offering contract cannabis and hemp processing to Canadian Licensed Producers and international partners to sell under their own brands; and white labelling, or supplying products in consumer-ready packaging for companies licensed to sell cannabis oil extracts and for CPG brands seeking licensed cannabis manufacturing partners.
In addition, Pure Extracts is applying for a Natural Health Products site license from Health Canada, which will enable the production and sales of functional mushroom products in an EU-GMP-compliant environment. Once EU-GMP certified, the products the Company produces in its 10,000-square-foot will qualify for international sales including in Germany where the importation regulations are among the strictest in the world. Finally, Pure Extracts is exploring several joint-development possibilities for Q4 2020 product launches.
Pure Extract Technologies Inc., headquartered in Pemberton British Columbia, is a soon-to-be public, plant-based extraction company with a new vertical in functional mushrooms. The firm is positioned to be a dominant extraction company and a leader in the rapid development and commercialization of functional and medicinal psychedelic products.
For more information, visit the company’s website at www.PureExtractsCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to Pure Extract Technologies are available in the company’s newsroom at http://cnw.fm/Pure
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