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    PULL   CA74624U1049

PURE EXTRACTS TECHNOLOGIES CORP.

(PULL)
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Pure Extracts 1-Gram Vape Carts Continue Strong Retail Sell-Through

11/24/2021 | 08:45am EST

VANCOUVER, British Columbia, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts” or the “Company”), a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, is pleased to announce that its wholly owned subsidiary Pure Extracts Manufacturing Corp.’s branded 1 gram vape carts are continuing their strong growth with licensed retailers.

Of the Company’s 24 SKUs listed across 4 provinces (British Columbia, Alberta, Saskatchewan and Ontario) in the recreational cannabis space and 9 SKUs in the medical cannabis space, the 1-gram Pure Pulls branded line of full spectrum oil (FSO) THC vapes is clearly the best seller. Product re-orders are occurring with increasing frequency with shipments usually selling-through within 3 to 5 weeks from delivery to the provinces and the Company believes that this key SKU will help it access the provincial markets in Eastern Canada.

The Company is also building on the success of Pure Chews THC and CBD edible gummies, sold in their unique blister package format, and has submitted multiple Notices of New Cannabis Products (NNCPs) to Health Canada for approval. These products are expected to be in-market in H1 2022.

Pure Extracts’ CEO, Ben Nikolaevsky, commented, “We are pleased to have several key SKUs that are receiving widespread consumer recognition and repeat buying. Our products are of the highest quality, and we have priced them to be within reach of all of consumers.”

ON BEHALF OF THE BOARD
Ben Nikolaevsky
Ben Nikolaevsky
CEO and Director

About Pure Extracts (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)

Pure Extracts Technology Corp. features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act on September 25, 2020, and its Sales Amendment on July 19, 2021. The Company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020.

Find out more at https://pureextractscorp.com/

Or contact:
Pure Extracts Investor Relations
Tel: +1 604 493 2052
info@pureextractscorp.com

This news release contains forward-looking statements relating to the future operations of Pure Extracts, and the other statements are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of Pure Extracts’, are forward-looking statements and involve risks and uncertainties. A number of factors could cause actual events, performance or results to differ materially from what is projected in forward looking statements. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under “Risk Factors” in the Company’s Annual Information Form. The Company does not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws.

This news release contains information about potential sales revenue from supply agreements, which may be considered as disclosure of financial outlook under applicable securities laws. Such information is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraph. Specifically, estimated sales revenue which may be derived from supply contracts has been calculated based on current wholesale prices and assume, among other things, that the Company will be able to find buyers for its products. The financial outlook contained in this news release was made by management as of the date of this news release and was provided for the purpose of providing readers with an understanding of the potential revenue which may be derived from any agreements recently entered into by the Company and are not an estimate of profitability or any other measure of financial performance. Readers are cautioned that the financial outlook contained in this document should not be used for purposes other than for which it is disclosed herein.

The CSE has neither approved nor disapproved the contents of this press release.


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Source: Pure Extracts Technologies Corp.

2021 GlobeNewswire, Inc., source Press Releases - Canada

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Financials
Sales 2021 0,10  0,08  0,08 
Net income 2021 -20,7 M -16,2 M -16,2 M
Net Debt 2021 0,03 M 0,02 M 0,02 M
P/E ratio 2021 -0,74x
Yield 2021 -
Capitalization 13,9 M 10,9 M 10,8 M
EV / Sales 2020 -
EV / Sales 2021 228 925 573x
Nbr of Employees -
Free-Float 97,3%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 0,14 CAD
Average target price 0,90 CAD
Spread / Average Target 567%
EPS Revisions
Managers and Directors
Ben Nikolaevsky Chief Executive Officer & Director
Yana Popova Chief Financial Officer, Secretary & Director
Doug Benville Chief Operating Officer & Director
Dwight Duncan Independent Director
Sean Bromley Independent Director
Sector and Competitors