The licensing will allow the company to significantly expand its product offerings to the medical and consumer markets with oils and post-derivative cannabis products.
“This is an important milestone in our company’s history which will significantly expand our product offerings for the medical and legal adult channels,” Pure Global President and CEO Malay Panchal stated.
Oils and post-derivatives will be deployed throughout the company’s brand ecosystem, especially as edibles and post-derivative products regulations come into being this fall. The company already has prepared oils formulations, as well as purification, processing, and packaging equipment in place for the next phase of operations. It has the capacity to purify, formulate, and process 10 liters of oil per day, 10,000 capsules per hour, 10,000 vape cartridges per hour, and 2,000 oils bottles per hour.
With Health Canada approval for oil sales, Pure Global can release its line of extraction-based products which will soon be available through its online store, as well as legal retail cannabis stores across Canada. The company had already expanded production capabilities, anticipating license approval, to include in-house production of medicated topicals, creams, gels, balms, lotions, tinctures, sprays, vape pens, oils bottles, and gel capsules.
The licensing also clears the path for Health Canada approvals for the second phase cultivation and extraction, for which the company has already submitted its readiness package and is in final stages of approvals. With over 80 genetics to choose from, the company is ready to begin vertically farmed cultivation and scaled extraction for its branded and for white labeled products.
“We will be able to sell high-margin oils and post-derivative products across all of our premium brands and will be one of only and handful of Licensed Producers to be able to do so. Over 50% of medical patients are looking for post-derivative products as well as those in our target consumer markets, which we will now be much better able to serve,” CEO Panchal added.