Pure Extracts Technologies (PULL.C) exported its first batch of cannabis oil extracts to a German pharmaceutical company under their Health Canada export permit today.

PULL bought Canadian grown, EU-GMP certified cannabis flower and pulled both 65% THC full spectrum oil, and 85% pure distillate, which they then sent to Germany for further processing into an ultra-pure form of THC for medicinal purposes.

“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,” said Ben Nikolaevsky, Pure Extracts CEO.

This is what Pure Extracts Technologies does. They have a processing facility loaded about 20 minutes north of Whistler, British Columbia, that’s been constructed with dealing with the European Union in mind. They’re aiming towards export sales of products and formulations, including presently those illegal or restricted in Canada. Namely, this would be psilocybin mushrooms, which they then send to places where they’re legal.

The company is completely licensed to do this.

In terms of weed and hemp processing, they have been granted their Standard Processing License by Health Canada under the Cannabis Act on September 25, 2020, and its Sales Amendment on July 19, 2021.

The company is banking that this sale opens the door to longer supply agreements into Germany. Naturally, they’re going to keeping looking for more opportunities throughout Europe, wherever cannabis and their other products can be sold legally.

—Joseph Morton