Pure Extracts (CSE: PULL) is one step closer to commercializing its functional mushroom operation. The company this morning announced that it has received its registration with the Natural and Non-prescription Health Products Directorate.

The registration enables the company to submit a Class 1 Natural Product Number for functional mushroom products, the first of which has been completed. The company currently expects to submit several such applications this year.

Sales are to occur through a new subsidiary, Pure Mushrooms Corp, with sales being direct to consumer via an e-commerce platform. Referred to as “Pure Mushrooms”, the effort is a means of the company exploring new ways to expand the use of its existing extraction equipment for the functional mushroom space. In the near term, the company has indicatred that it will be using a co-packer to meet customer demand.

“The functional mushroom wellness sector is experiencing tremendous growth and consumer awareness, we remain very excited about our new Pure Mushrooms brand. We look forward to getting our first product in consumers’ hands by the end of Q1 2021.”

Ben Nikolaevsky, CEO of Pure Extracts

Pure Extracts last traded at $0.62 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.

The post Pure Extracts Submits Application For First Natural Product Number appeared first on the deep dive.