Pure Extracts Enters Into Biomass Purchase Agreements

Source: www.gulfoilandgas.com 1/26/2021, Location: North America

Pure Extracts Technologies Corp., a plant-based extraction company, is pleased to announce that it has entered into its first substantial biomass purchase agreements in order to scale-up its production of both THC and CBD extracts.

The Company has recently agreed to purchase 220 kgs of high potency THC cannabis dried flower from a large, Canadian Licenced Producer and it has also agreed to purchase 1,000 kgs of high potency CBD biomass from a top, Western Canada, cultivator. With biomass prices touching new lows, the Company believes that the timing was right for its first strategic purchases, which will drive revenue growth in Q1 2021.

The cannabis will be used to produce full spectrum (FSO) THC oil with a minimum purity of 67% and distillate with a minimum purity of 86%. The hemp will be used to produce full spectrum (FSO) CBD oil with a minimum purity of 66% and distillate with a minimum purity of 85%. From these 2 biomass purchases alone, the Company will be able to produce approximately 70 kgs of CBD distillate and 25 kgs of THC distillate. At current wholesale prices of $6,000/kg and $6,800/kg respectively, this biomass could lead to $590,000 in near term sales revenue.

Pure Extracts CEO, Ben Nikolaevsky, remarked, “Having a stockpile of biomass makes sense for us now as Pure Extracts starts to build its name in the elite category of extractors. We are looking forward to showcasing our world class products and consistently ramping-up revenue this year.”

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