TORONTO, Sept. 26, 2019 /CNW/ - Pure Global Cannabis Inc.
(TSX.V: PURE; OTC: PRCNF; FRA: 1QS) ("Pure Global"), an
integrated growth-oriented Life Sciences and cannabis consumer
products company, operating through its wholly-owned subsidiary
PureSinse Inc. ("PureSinse" or "Company"), a Licensed
Producer under Health Canada's Cannabis Act, is extremely excited
to announce the creation of a new business unit, PureCanna
Solutions ("PureCanna"). This B2B brand will provide white
label extraction, co-processing, co-manufacturing, tolling, and
cannabis and cannabidiol ("CBD") isolate and extract bulk
sales.
PureCanna has already entered into negotiations with potential
clients and suppliers to provide immediate access to the Company's
extensive line of products and manufacturing techniques, which
include packaging for dried flower, oils bottles, vape pens, and
capsules. As the Company continues to upscale their manufacturing
and processing capabilities, the creation of this new division will
offer significant revenue generating potential with exceptional
margins.
Pure Global CEO & President, Malay Panchal said, "This new
division will allow us to quickly and substantially increase high
margin sales by servicing industry partners who share the same
vision of creating only the highest quality products. Adding CBD
bulk sales, white label, and co-processing services leverages our
existing capabilities and any underutilized capacity."
In preparation for this development, the Company submitted their
readiness packages in early August for Health Canada approvals of
Phase 2 of their Brampton facility
expansion, which upon approvals will immediately allow for
cultivation along with manufacturing capabilities of 20 to 30kg of
cannabis extract for bulk sale via CO2 supercritical extraction.
PureSinse is in the process of adding significantly more extraction
capacity for hemp biomass processing in place of previously
denominated cultivation rooms with target capacities of 100 to 200
tons annually and expected readiness in early H1 2020.
This represents the latest in a series of transformational
announcements from Pure Global. The Company announced earlier this
week the signing of a joint operating agreement with KMT-Hansa
Corp. to cultivate, grow and process hemp and CBD products in
China. In addition, Pure was
recently granted their oil sales license from Health Canada.
Mr. Panchal continued, "PureCanna is set to become a leading
provider of GMP and pharmaceutical grade CBD and cannabinoid
isolates, ready to use formulations, co-manufacturing, and
co-packaging services for CPG companies and LPs. I am very proud of
the hard work that has gone into the development of this unit and
look forward to forging new partnerships with some highly respected
cannabis and CPG companies in Canada and globally."
About Pure Global Cannabis
Pure Global Cannabis Inc. is an innovation-based cannabis
company led by experienced pharma, biotechnology, horticultural,
and consumer packaged goods (CPG) experts. The Company's wholly
owned subsidiary, PureSinse Inc., is a licensed producer under the
Cannabis Act. The Company's Brampton campus houses facilities for
vertically farmed cultivation, R&D, extraction, manufacturing,
and distribution. Pure Global will produce branded and
white-labeled cannabis products for the medical, pharmaceutical,
wellness, health & beauty, natural health, food & beverage,
craft, and recreational legal markets with uniquely formulated and
purified concentrates and dried flower. The Company is using the
Canadian market as a springboard to develop and manufacture
GMP-compliant premium quality cannabis products for international
sale and distribution with a goal to become one of the most trusted
premium international cannabis brands.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements,
including, but not limited to, statements about Pure Global's
future plans and intentions. Wherever possible, words such as
"may", "will", "should", "could", "expect", "plan", "intend",
"anticipate", "believe", "estimate", "predict" or "potential" or
the negative or other variations of these words, or similar words
or phrases, have been used to identify these forward-looking
statements. These statements reflect management's current beliefs
and are based on information currently available to management as
at the date hereof.
Forward-looking statements involve significant risk,
uncertainties and assumptions. Many factors could cause actual
results, performance or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully, and readers should
not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this news
release are based upon what management believes to be reasonable
assumptions, Pure Global cannot assure readers that actual results
will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this news
release, and Pure Global assumes no obligation to update or revise
them to reflect new events or circumstances, except as required by
law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
To register to Pure Global's mailing list, please visit
www.pureglobal.com. Follow @pureglobalcanna
on Twitter and Facebook and @pureglobalcannabis
on Instagram.
SOURCE Pure Global Cannabis Inc.
