Pure Extracts Technologies Corp. announced the incorporation of a joint venture company, Pure Psyence Corp. for the development of nature-derived psilocybin extracts and advanced psilocybin formulations for the long-term treatment of psychological trauma and its mental health consequences. Pure Psyence plans to be a leader in the extraction of naturally-derived
psilocybin for the production of advanced formulations and clinical research. Pure Psyence will leverage Psyence's supply of in-house grown, high-quality, standardized psilocybin mushrooms with Pure Extract's expertise in extraction technologies to produce high-quality, high-purity medicinal mushroom extracts and formulations on a commercial pharmaceutical scale. Pure Extracts is a plant-based extraction company known for its full spectrum oil (FSO) extracts and has extensive expertise in cannabis, hemp, functional mushrooms and psychoactive mushrooms. Its wholly
owned subsidiary, Pure Mushrooms Corp., has submitted a Dealer's Licence application to Health Canada under the Controlled Drugs and Substances Act (CDSA) to process psychedelic mushrooms at its extraction facility. Located in Pemberton, BC, the Pure Extracts facility was built for EU-GMP certification. Psyence has built and operates one of the first federally licensed commercial psilocybin cultivation and production facilities in the world. They are focused on the production of certified, high-quality psilocybin/psilocin-yielding mushrooms. Their facility, which is in the Kingdom of Lesotho, has been designed and constructed to The British Standards Institute (BSI) and Good Manufacturing Practice (GMP) standards. All their harvests are shipped with an export permit from the Lesotho Ministry of Health and a Certificate of Analysis (COA) indicating the psilocybin and psilocin potency of each batch of
psychoactive mushrooms.