Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Opens Direct-To-Consumer Amazon Store under Pure Mushrooms Brand

  • PULL subsidiary Pure Mushrooms Corp. opens direct-to-consumer e-Commerce store on Amazon platform
  • Store features Reishi, Maitake formulations with plans to add Lion’s Mane in summer 2021
  • Global functional mushroom market valued at $25.4 billion in 2020, expected CAGR of 8.44% from 2021-2026
  • Company expands psychedelic vertical through letter of intent with Psyence Group to co-produce psychedelic mushroom-based psilocybin formulations

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, recently announced that Pure Mushrooms Corp., its wholly owned subsidiary, has opened a direct-to-consumer, e-Commerce store on the Amazon platform to sell its Reishi and Maitake formulations. Marketed under the Pure Mushrooms brand, the Company expects sales to add significantly to 2022 revenue growth and plans to add more formulations alongside increasing functional mushroom market demand.

Mordor Intelligence valued the global functional mushroom market at $25.4 billion in 2020 with an expected CAGR of 8.44% from 2021-2026 (https://cnw.fm/qQGQt). The industry has been growing rapidly in recent years with popular uses spanning cognitive enhancement to reducing cancer risk (https://cnw.fm/149nJ). With an aim to tap into the growing market, Pure Mushrooms’ gluten-free and vegan Reishi and Maitake formulations are priced at just under $20 for 90 capsules, with a planned rollout of its Lion’s Mane formulation this summer.

“We are excited to be on Amazon, the largest online marketplace and the most powerful platform in the world for brand development, and to have made our first US and Canadian sales of our Pure Mushrooms products,” said Pure Extracts CEO Ben Nikolaevsky. “The functional mushroom wellness market is experiencing robust sales as many consumers are trying to boost their immune systems in light of the COVID-19 pandemic. As we build out the mushroom extraction section of our facility, we plan to bring more products to market.”

Pure Extracts is also making strides in its psychedelic mushrooms vertical through a recently signed letter of intent with the Psyence Group to co-produce psychedelic mushroom-based psilocybin formulations. As one of the world’s first psychedelic mushroom companies, Psyence operates a federally legal commercial cultivation and extraction facility in Southern Africa. With a network based in South Africa, Lesotho, Jamaica – and now Canada – the company aims to rapidly develop natural psychedelics and novel drug delivery systems for patients across the world (https://cnw.fm/jTzks).

Based in British Columbia, Pure Extracts operates out of its state-of-the-art facility built to European Union GMP standards, enabling the Company to obtain EU-GMP certification for export to European countries where its products are legal for sale and consumption. With the market for cannabis, functional and medicinal psychedelic products gaining traction across the world, Pure Extracts is favorably positioned to gain significant market share within the rapidly expanding plant-based medicine industry.

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://cnw.fm/PULL

About CanadianCannabisWire

CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.canadiancannabiswire.com

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

Do you have questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.canadiancannabiswire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

CanadianCannabisWire is part of the InvestorBrandNetwork.

Archives

Select A Month

CanadianCannabisWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 905.674.5977