TORONTO, Oct. 24, 2019 /CNW/ - Pure Global Cannabis Inc.
(TSX.V:PURE; OTC: PRCNF) (the "Company" or "Pure
Global" or "Pure"), an integrated growth-oriented
cannabis bulk extracts and consumer products manufacturing company,
operating through its wholly-owned subsidiary PureSinse Inc., a
Health Canada Licensed Producer under the Cannabis Act, is pleased
to announce it has received an amendment to its processing license
to allow the sale of extracts, topicals, and edibles to medical and
legal adult consumer markets.
Receiving this license is timely as the Company recently
received its oil sales license enabling it to significantly broaden
its product offerings to medical and recreational consumers in the
high margin concentrate categories. With the approval to produce
and sell extracts, topicals, and edibles, the Company can introduce
a full line of premium quality branded and white label cannabis and
cannabidiol ("CBD") products including vape pens, which have been
formulated without harmful chemicals, pre-formulated oils,
extracts, topicals, and edibles. The Company has submitted 20 SKUs
to Health Canada for release as early as December this year and
plans on submitting more in the coming months as it expands its
product lines in high-margin categories.
Pure Global anticipates receipt of Health Canada approval soon
to add over 10,000 square feet of finished eu-GMP grade
manufacturing space, comprised of 12 cultivation, processing, and
extraction rooms to the Company's already licensed site. Once the
approvals are obtained, the Company can commence activities to
enable the sale of bulk concentrates, branded and white label
medical, recreational, and wellness products, and co-manufacturing
and tolling services.
"Our consumer and B2B brands have been developed to take
full advantage of cannabis derivative products. Receiving this
license is a big step for Pure", said Pure Global CEO &
President, Malay Panchal. "We have the equipment in place to
provide premium cannabis extracts, topicals, and edibles for
consumers and companies looking for the highest quality products.
We have worked very hard to put in place an organizational
structure that will create significant value for our shareholders.
This licensing approval is significant step in our journey as it
allows us to participate in the newly released edibles and
concentrates regulations that went into effect October 17, 2019," added Mr. Panchal.
About Pure Global Cannabis
Pure Global is a eu-GMP grade cannabis manufacturer focused on
producing high-quality high margin branded and white label cannabis
and CBD consumer products, premium quality bulk dried flower, full
spectrum concentrates, and pre-formulated active ingredients for
CPG manufacturers globally. The Company is led by a professional
team of experienced pharma, biotechnology, horticultural,
extraction, manufacturing and consumer packaged goods experts, and
operates through its wholly owned subsidiary, PureSinse Inc., which
is a licensed producer under the Cannabis Act. Pure operates a B2B
brand under PureCanna Solutions which is focused on high-margin
bulk cannabis extracts, bulk CBD sales, as well as white label, and
co-manufacturing services. The Company's 18,000 square foot
Brampton manufacturing campus
houses facilities for vertically farmed hydroponic indoor
cultivation, R&D, extraction, processing, and packaging. To
compete in international markets, Pure Global is the process of
deploying a joint operation in Yunnan,
China for large scale hemp derived organic bulk CBD
manufacturing and processing for international bulk and finished
product sale under Special Economic Zone tax-free export
provisions. Pure has also launched, or is in the process of
launching, several premium branded products in targeted consumer
categories into the Canadian legal adult market including
PureSinse® Wellness, Paper&Weed Pre-Rolls, Galaxy Cannabis,
Kumo Edibles, and PureSinse® Medical, which operates with Pure's
wholly own subsidiary Spark Cannabis Clinic, offering free
telemedicine consultation for medical cannabis patients across
Canada. Through its recently
acquired division, The Great Canadian Health Company®, which won
Hemp Product Company of the year at the recent 2019 GrowUp Awards,
Pure is launching a line of organic hemp oil and CBD topical
products, into several markets in Europe and Asia in early 2020.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements,
including, but not limited to, statements about Pure Global's
future plans and intentions. Wherever possible, words such as
"may", "will", "should", "could", "expect", "plan", "intend",
"anticipate", "believe", "estimate", "predict" or "potential" or
the negative or other variations of these words, or similar words
or phrases, have been used to identify these forward-looking
statements. These statements reflect management's current beliefs
and are based on information currently available to management as
at the date hereof.
Forward-looking statements involve significant risk,
uncertainties and assumptions. Many factors could cause actual
results, performance or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully, and readers should
not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this news
release are based upon what management believes to be reasonable
assumptions, Pure Global cannot assure readers that actual results
will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this news
release, and Pure Global assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
To register to Pure Global's mailing list, please visit
www.pureglobal.com. Follow @pureglobalcanna
on Twitter and Facebook and @pureglobalcannabis
on Instagram.
SOURCE Pure Global Cannabis Inc.
