The fall season has arrived, and with it an ongoing lessening of Covid-19 health measures. This is providing a return to a degree of normalcy here in
Market Awareness and Product Distribution
Our first and strategically most important update is that Pure Extracts’ products are now listed for sale at licensed outlets throughout
The product mix encompasses 24 SKUs currently available in each respective provincial recreational cannabis market, and further offers 9 SKUs specifically targeting the medical cannabis supply chain. To-date,
The product lineup has been increased to include a one-gram vape cart which has met with positive consumer uptake. The THC version is in the initial launch phase in BC and AB with the CBD version in ON. Repeat orders of the one-gram product SKU had already been received at the start of the current fiscal quarter.
Pure Extracts’ CBD gummies, offered in their sector-leading unique blister packaging, continue to report uniformly growing market share across all four of the provinces. Medical sales continue to expand through the Abba Medix sales platform, notably in the CBD gummie product lineup. Leading sales figures focus clearly on our ultra-high potency CBD 50, 75 and 100 mg packs.
Our in-house services have also experienced substantial growth in recent months. The two most active services include our white label and tolling business development for industrial-scale customers. We are extremely pleased to have signed three new white label programs for the production of vape cartridges and two of these customers are concurrently tolling their biomass through our services.
New Product Development
Pure Extracts’ development team has identified a new infused-product trend in the cannabis industry and will be executing an unveiling and product launch aimed at new product SKU’s targeting the Canadian marketplace withing the next quarter. Until then, we are keeping details to a minimum as we hope to earn marketing leverage of a very underserved product mix that we believe will position well with our brand identity and distribution ability.
Sales & Marketing
Enhanced social media & sales support strategy:
- Our dedicated
Pure Extracts social strategy (Pure Pulls and Pure Chews) now includes daily posting of a curated feed promoting organic engagement across Instagram, Twitter, Facebook and LinkedIn. - Creation of a dedicated Pure Mushrooms social strategy (for Maitake, Reishi, Lion’s Mane) including daily curation of information promoting organic engagement across Instagram, Twitter, Facebook and LinkedIn
- Ongoing effort and close collaboration with Cannavolve, our national cannabis sales agency and their team on the ground across
Canada to promote and secure additional points of purchase for Pure Pulls and Pure Chews - A full complement of sales material has been developed to support sales activities in the field.
- Product knowledge training is actively underway for field sales reps and budtenders (both on-site and virtually).
Michigan Facility Update
In
Mushroom Sector Business Development
Our functional mushroom business continues to advance with the development of two new product SKUs including a Lion’s Mane formulation set for launch in December and a Blended product formula scheduled for launch in the first quarter of 2022. Implementation with Amazon Canada experienced some initial issues which have been overcome and we are now on-track to offer cross-border sales with the commencement of a marketing campaign focused on gaining segment visibility and sales penetration of our Pure Mushrooms brand.
Concurrently, our psilocybin enterprise continues to move forward with a joint venture (JV) between
Responses from
Near Term Summary
Our near-term goals include product launches in a soon-to-be-named Eastern Canadian province, and the listing of our products through a relationship with a national pharmacy chain. We continue to focus on distribution to medical patients through specific channel partners, with additional medical SKUs planned for 2022.
In Conclusion
As anyone following the
ON BEHALF OF THE BOARD
“Ben Nikolaevsky”
Ben Nikolaevsky
CEO and Director
About
Find out more at https://pureextractscorp.com/
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Pure Extracts Investor Relations
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info@pureextractscorp.com
This news release contains forward-looking statements relating to the future operations of
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.
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SAFE HARBOR STATEMENT
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Companies, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Companies’ financial condition or results of operations; (iii) the Companies’ growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Companies’ ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in Grown Rogue’s Form 20-F and 6-K filings with the
STATEMENT REGARDING
Pursuant to Pure Extracts’ joint venture with
In
There is no guarantee that state laws legalizing and regulating the sale and use of cannabis will not be repealed or overturned, or that local governmental authorities will not limit the applicability of state laws within their respective jurisdictions. Unless and until the
To Pure Extracts’ knowledge, no statement has been made by federal authorities or prosecutors regarding the risk of enforcement action with respect to state-sanctioned marijuana activities in the state of
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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