Business Booming in April: Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Lands Tolling Agreement to Extract CBD from 500 Kg Hemp Biomass
May 11, 2021
- CBD-infused products market is expected to grow 48.1% annually to reach $165.7 billion by 2027
- Pure Extracts Technologies’ subsidiary recently began production of goods expected to generate approximately $950,000 in revenue
- New tolling agreement is for extraction of 80-85% pure CBD distillate from an initial 500 kilograms (~1,102 pounds) of hemp biomass
Any industry forecast for double-digit growth is one worth keeping an eye on. When experts are calling for mid-double-digit annual market growth, like that of CBD-infused products, it’s worth a head turn and a stare. Meticulous Research this month forecast this market to experience compound annual growth of 48.1% from 2020 to 2027 to reach $165.7 billion. That falls right into the sweet spot for Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp, functional mushrooms, and the burgeoning psychedelic sector. The protracted demand for CBD, an acronym for cannabidiol, aligns with the Company’s strategy to leverage sales for legal cannabis and hemp products while the psychedelic markets develop.
A first mover with highly technical expertise in plant extraction processes, the Company operates a purpose-built EU GMP compliant facility north of Whistler, British Columbia. Business has been booming for Pure Extracts. During a span of eight days, the Company announced commencing production of…
NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://cnw.fm/PULL
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