NEW YORK, March 24, 2021 /PRNewswire/ -- With CBD being found in an assortment of products, due to its sought-after relaxing properties, the demand for CBD has gone global. The use of CBD has also been a debatable topic in mainstream news these days. The cannabis and CBD food market has projected that the industry will be worth $6.6 billion by 2024, and it's obvious this is due to the growing intrigue of consumers worldwide. Cannabis has also been legalized for medical use in major countries like Australia, Canada, Germany, Italy, and parts of the United States, to name a few. Companies such as Pure Extracts Technologies Corp. (CSE:PULL) (OTCPK:PRXTF) (XFRA: A2QJAJ), Canopy Growth Corporation (NASDAQ:CGC) (TSX:WEED), Aleafia Health Inc. (TSX:AH) (OTCQX:ALEAF), OrganiGram Holdings (NASDAQ:OGI) (TSX:OGI), and Khiron Life Sciences (TSXV:KHRN) (OTCQB:KHRNF) have tapped into international markets as well, leading to a broader awareness of CBD.
Pure Extracts Advances to European Market With CBD Oil Extracts
Pure Extracts Technologies Corp. (CSE:PULL) (OTC:PRXTF) (XFRA: A2QJAJ), a plant-based extraction company, recently announced its entry into the international market after selling its first batch of cannabis oil extracts to a German-based pharmaceutical company. Pure Extracts extracted its CBD oil from Canadian grown, EU-GMP certified, dry cannabis flower resulting in 75% pure THC full spectrum oil (FSO) and 88% pure THC distillate. In the future, the FSO and distillate will be processed in Germany into an ultra-pure form of THC for medical purposes.
Pure Extracts CEO, Ben Nikolaevsky, spoke about its entry into the international market, stating, "it is gratifying to have had our concentrates selected by a German pharmaceutical company for use in their medical products. We are excited about the entire European market opportunity for our extracts."
Pure Extracts recognizes the potential of this initial sale as it paves the way for long-term supply agreements with Germany. Furthermore, this professional relationship with one of Europe's most lucrative markets offers the opportunity for future agreements with other European countries that have legalized cannabis.
Ahead for Pure Extracts is its most recent venture, which includes the innovative Cosolvent Injection System (CIS) from Vitalis Extraction Technology Inc. This advanced system is limited in quantity, and Pure Extracts will be one of the first few companies in the world to acquire this technology. With Pure Extracts and Vitalis having a long-term partnership, the use of the CIS technology was developed to enhance the Vitalis carbon dioxide extraction systems in order to produce higher-quality cannabis extracts with faster run times. Now, Pure Extracts will utilize the same technology for its own production of cannabis extracts.
CBD Excitement Leads to Innovative Products in the Expanding Market
Canopy Growth Corporation (NASDAQ:CGC) (TSX:WEED) will expand its presence in North America by introducing its innovative sparkling CBD waters in four different flavors. However, the company is looking at a launch prior to the federal legalization of cannabis in the United States. The Ontario-based cannabis company had previously launched its sparkling beverages in Canada in the fall of 2020. The drinks contain 20mg of CBD ranging from flavors such as ginger lime, cucumber mint, blueberry acai, and guava passion fruit.
Aleafia Health Inc. (TSX:AH) (OTC:ALEAF) formulated its own version of a CBD oil, which contains a high component of the cannabis plant in its oil product. Consistent with the effects of relaxation found in a majority of CBD products, the Aleafia products are being marketed as Symbl High CBD 50, and as Emblem CBD 50 for medical use. Although the CBD oils launched in December 2020, it has been noted they are currently not as widely available in Canada due its high potency levels.
OrganiGram Holdings (NASDAQ:OGI) (TSX:OGI) has also entered the international market after spending an extended period of time scoping out a strategic partnership that included consumer packaged goods, beverage, and alcohol companies. As a result, OrganiGram entered into a partnership with British American Tobacco (BAT). The agreement states the focus will initially be placed on CBD, but the overall aim is to develop the next generation of cannabis products. OrganiGram has also delved into other areas such as the production of high quality chocolates that contain CBD.
Last summer, Khiron Life Sciences (TSXV:KHRN) (OTCQB:KHRNF) announced its plans to export high-CBD medical products from Colombia, followed by importing and commercializing them in Peru. Khiron established its plan by completing all necessary licensing, importing, and distribution requirements. Khiron Colombia made an agreement with Farmacia Universal, which entailed that the CBD medical cannabis would be supplied by Khiron Colombia and then manufactured and distributed by Farmacia Universal.
As companies like Pure Extracts explore new avenues for their products, the cannabis industry seems set to continue expansion as projected for the coming years ahead.
For more information on Pure Extracts Technologies, click here.
DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Pure Extracts.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.
FN Media Group, LLC