- Pure Extracts Technologies (PULL) is forming a Joint Venture and entering the Michigan market
- The company is installing a cannabis and hemp extraction system in an existing Michigan facility
- The affiliate of the multi-state operator has a long history of success in Oregon
- The companies plan to build-out 2,600 square feet of existing space in the operator’s current facility
- Pure Extracts is down 3.00 per cent on the day, with shares of the company trading at C$0.48 at 1:23 pm ET
Pure Extracts Technologies (PULL) is forming a Joint Venture and entering the Michigan market.
The company is installing a cannabis and hemp extraction system in an existing Michigan facility.
Pure Extracts announced the company has signed a letter of intent (LOI) with the affiliate of a publicly traded multi-state operator to form the Joint Venture.
The affiliate of the multi-state operator has a long history of success in Oregon offering a family of products including sun-grown and indoor premium flower, along with patented nitro sealed indoor and sun-grown pre-rolls and jars.
Pure Extracts is a plant-based extraction company focused on cannabis, hemp, functional mushrooms, and the rapidly emerging psychedelic sector from a state-of-the-art processing facility located just north of Whistler, British Columbia.
In Michigan, the companies plan to join forces by combining the operator’s local permitting, licensing, and marketing expertise with Pure Extracts’ extraction, vape, live resin and edibles manufacturing skills.
The venture partners plan to build-out 2,600 square feet of existing, under utilized, space in the operator’s current facility, which is strategically located in central Michigan within a two-hour drive of several major markets.
Michigan is anticipated to follow similar consumer trend patterns experienced in other states such as California and Colorado where sales of extracts and concentrates eventually overtake sales of dry-flower.
“We are really excited about launching our first US initiative into the dynamic Michigan market, especially with experienced and entrenched partners. There is strong demand throughout the state for the products we know best: full spectrum oil (FSO) vapes, live resin concentrates, and edibles. With immediate access to the MSO affiliate’s 100+ dispensary customers out of Michigan’s nearly 400 licensed dispensaries, we expect our products to be distributed and on-shelves in Q4 of this year,” said Pure Extracts CEO Ben Nikolaevsky.
Pure Extracts is down 3.00 per cent on the day, with shares of the company trading at C$0.48 at 1:23 pm ET.
