Pure Extracts (CSE: PULL) continues to focus on the development of its mushroom-related operations in addition to cannabis. The company this morning announced that it ahs submitted an application for its Dealer’s License to Health Canada.

Submitted by the firms wholly owned subsidiary, Pure Mushrooms Corp, the license will enable a number of activities to be conducted by the company. Such activities include the procurement of controlled substances, which includes both the import and the production of substances such as psilocybin mushrooms, as well as the research and manufacture of controlled substances, the business to business sale of such substances, and the sale of controlled substances via pharmacies.

The license, if granted, will enable the firm to work on the research and development of extraction process of controlled substances, and will enable the firm to prepare to work with partners such as medical doctors, pharmaceutical firms and pharmacies. It’ll also enable Pure to be involved in the realm of clinical trials as a supplier of such controlled substances.

“We are grateful to have the support of one of Canada’s premiere consulting companies with subject matter proficiency in cannabis and other regulated consumer product industries in assisting that we submitted a fully compliant Dealer’s Licence application to Health Canada. As a plant-based extractor bringing functional mushroom products to market in Q1, we are very excited to be laying the groundwork for our move into the controlled substances world of psychedelic extracts.”

Ben Nikolaevsky, CEO of Pure Extracts

Pure Extracts last traded at $0.58 on the CSE.


FULL DISCLOSURE: Pure Extracts is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Pure Extracts on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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