There are signs of major changes in Canada that will prove to be extremely beneficial for the extraction company Pure Extracts Technologies (WKN A2QJAJ / CSE PULL) could prove. Because the health authority of the country, Health Canada, announced to revise the so-called Special Access Program (SAP)!
The SAP was created to give Canadian citizens access to drugs that have not yet been officially approved. In the past, psychedelic drugs were not included, but media reports suggest that this may change soon! And of course that would be a big deal for Pure Extracts, as the company is currently preparing to get into the research and business of psilocybin and Co.!
Because Pure Extracts is already working on the one hand with the renowned scientist Dr. Alexander MacGregor, et al. Dean of the Faculty, distinguished professor of biopharmaceuticals and current President of the Toronto Institute of Pharmaceutical Technology, is working on developing optimal psilocybin extraction methods that can be used in the company’s existing extraction facility. The company believes that this sector will grow rapidly and that the sector’s demand for high quality psilocybin will increase rapidly. A revision of the SAP, which would now officially also include psychedelics such as psilocybin, would in our opinion be an additional growth driver in this regard!
In addition, the importance of the recently announced decision by Pure Extracts to hire a globally recognized consultancy for operations, compliance and regulation in the area of controlled substances is made even clearer by the announcement about SAP. The company is to advise Pure Extracts on applying for a distributor license under the Controlled Drugs and Substances Act (CDSA) with Health Canada. The CDSA and its regulations provide the framework for legal access to controlled substances as well as for the control and regulation of production, distribution and sale. One of Health Canada’s responsibilities is to provide the licensing and monitoring framework for the legal manufacture of controlled substances.
Once Pure Extracts had obtained such a dealer license, the following activities could be carried out:
• Acquisition of controlled substances (including through import), synthesis, transfer, cultivation and harvesting of psychedelic mushrooms for psilocybin extraction.
Research and manufacture of controlled substances such as psilocybin and psilocin.
• Sales of regulated substances to corporate customers (also through export).
• Sale of controlled substances through pharmacies.
Pure Extracts CEO Ben Nikolaevsky also elaborates on the importance of a potential SAP overhaul: “The Special Access Program could prove to be a turning point and a fundamental milestone that will ultimately transform an entire segment of the medical community in the treatment of mental illness. With better and more open access to experimentation, researchers can move on to larger, more comprehensive studies that eventually involve thousands of patient candidates. Based on several extensive studies, we see promising results in determining treatment safety, effectiveness, and desired outcomes. Our research suggests that a wide range of multi-formulation products will be required to meet demand from potentially intensive therapies to microdosing protocols. Accurate formulations and high quality products are required, and that’s basically the kind of work we understand and do. Here at Pure Extracts we believe in the future of the mushroom-based drug development sector and are committed to creating value based on the growing number of positive indicators of future success. “
Investors in Canada seem to have recognized the importance of the SAP news (the announcement was made on December 11th) before the company commented. In any case, the Pure Extracts share, still a high-risk speculation, closed yesterday with high trading volumes at an all-time high of CAD 0.80.
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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 generation of information and opinions 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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