Now we’re getting one after the other! After this Pure Extracts Technologies (CSE PULL / WKN A2QJAJ) announced a promising agreement to enter the boom market for functional mushroom products only yesterday, the next step is already being prepared, entry into the “hot” market for mushroom-based psychedelics!
The extraction company, which is already active in the cannabis and hemp sector, announced today that it has hired a globally recognized consulting company to support Pure Extracts in the areas of operation, compliance and official regulations – because the company has one at Health Canada so-called “Dealers License” according to the Controlled Drugs and Substances Act (CDSA) applied for!
And CEO Ben Nikolaevsky is certain: “The support of one of the leading Canadian consultancies with expertise in the cannabis sector and other regulated consumer goods industries ensures that we will be submitting a fully compliant dealer license application to Health Canada in the shortest possible time.”
The CDSA and its provisions provide, among other things, the framework for legal access to narcotics (controlled substances) as well as the control and regulation of production, distribution and sale. It is one of Health Canada’s responsibilities to provide the licensing and regulatory framework for the legal production of such substances.
So a Health Canada license is of paramount importance to companies like Pure Extracts who want to do research into active ingredients like psilocybin and psilocin. The dealers license could allow controlled substance activities such as the acquisition (including import), synthesis, distribution, cultivation and harvesting of psychedelic mushrooms for the extraction of psilocybin and psilocin. Research into and production of psilocybin and psilocin would also be included, as would the sale to other companies (including export) and the sale of the substances through pharmacies.
Pure Extracts CEO Nikolaevsky points out once again that obtaining a Dealers License is the basis for entering the psychedelics sector. The ability to conduct extraction research and development on psychedelic substances such as psilocybin and psilocin will make Pure Extracts ready to work with partners such as doctors, pharmaceutical companies and pharmacies. Clinical trials in the sector meanwhile, Nikolaevsky believed, would lead to the legalization of psychedelics and advances in microdosing in the near future!
The (quick) receipt of the license would represent a milestone for Pure Extracts Technologies. In addition to cannabis / CBD and functional mushrooms, the field of psychedelics would be a third exciting market in which the company could participate. While it will take some time until then, the company announced in today’s press release that the first functional mushroom products will come onto the market as early as the first quarter of 2021. We are excited!
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In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH can hold shares in Pure Extracts Technologies and thus a conflict of interest could exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values we have discussed during the same period. Therefore, symmetrical information and opinion generation can occur during this period. Furthermore, there is a consulting or other service contract between GOLDINVEST Consulting GmbH and a third party in the issuer’s warehouse (Pure Extracts Technologies), which creates a conflict of interest, especially since this third party grants GOLDINVEST Consulting GmbH for a fee for reporting Pure Extracts Technologies rewards. This third party may also hold, sell or buy shares in the issuer and would benefit from an increase in the price of Pure Extracts Technologies shares. This is another conflict of interest.
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