To create the product, Pure Extracts used EU-GMP certified dry cannabis flower and extracted it into 65% pure THC full-spectrum oil (FSO) and into 85% pure THC distillate. Once it arrives in Germany, it will be processed into an ultra-pure form of THC for medicinal purposes. THC can be used to treat pain, nausea, anxiety, insomnia, muscle spasticity, or glaucoma.
PULL hopes that the sale will pave the way for future sales into the German market. As of March 2017, seriously ill patients in Germany can receive cannabis products as a medical treatment if it is prescribed by a doctor. Because of its size and laws surrounding cannabis use, Germany is among Europe’s most important markets.
“It is gratifying to have had our concentrates selected by a German pharmaceutical company for use in their medical products. We are excited about the entire European market opportunity for our extracts,” stated Pure Extracts CEO, Ben Nikolaevsky.
Pure Extracts hopes this shipment is not just a one-off event, and this pharma company will not just become a recurring customer but could lead to other customers as well. Attitudes towards cannabis are softening across western Europe, meaning companies who establish themselves in European markets could reap significant rewards down the line.
Although there has been a cannabis market in Europe for years in countries like the Netherlands, extract oils like those produced by PULL have never been their specialty, as they have mostly focused on selling flower. Pure Extracts’ more scientific and precise methodology could have a big impact in future European markets.
The news had not had a significant effect on the stock price.
Full disclosure: Pure Extracts Technologies is an Equity.Guru marketing client.