TORONTO, Aug. 27, 2018 /CNW/ - Pure Global Cannabis Inc. (TSX.V:PURE; OTC: PRCNF) (the "Company" or "Pure Global" or "PURE"), a vertically-integrated, growth-oriented life sciences cannabis company, is pleased to announce that its wholly-owned subsidiary, PureSinse Inc. ("PureSinse"), has received approval for an amendment to its licence from Health Canada under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"), to include the activity of possession of cannabis oil, resin, and relevant activities.
PureSinse's license under the ACMPR was amended August 24, 2018, allowing the company to source bulk psychoactive and non-psychoactive cannabis oils along with resins from national and international licensed producers that meet Pure Global's high quality standards. The next step will be to receive Health Canada approvals to process, package, and sell cannabis oil-based products.
The Company anticipates that PureSinse will be granted a cannabis oils production and processing licence by the end of 2018 and subsequent oils sales licence in early 2019. Upon final licensing approval, PureSinse will have the ability to sell cannabis oil products to registered patients under the ACMPR, for adult legal use under the Cannabis Act, and for export purposes, along with its current dried medical cannabis products.
"This license is instrumental for PURE's ability to initiate revenue generation from oils in the coming quarters, while driving our product innovation, amplifying our intellectual property portfolio, and propelling our research and development mandates for cannabis oils-based products. The Company will look to secure long-term supply agreements for bulk dried flower, extractable trim, and now for cannabis and cannabidiol (CBD) distillates, isolates, and extracts, for processing, packaging, and distribution," said Pure Global President & CEO Malay Panchal. "We will immediately be applying for our oils production and processing licences to accelerate the development and formulation of cannabis oils products such as gel capsules, tinctures, sublinguals, and transdermal dosage forms," added Mr. Panchal.
About Pure Global Cannabis
Pure Global Cannabis Inc. (TSX.V:PURE; OTC: PRCNF) is a vertically-integrated, growth-oriented life sciences cannabis company led by experienced pharma-industry, horticultural, consumer packaged goods (CPG), and supply chain experts. The Company's wholly owned subsidiary, PureSinse Inc., is a licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR) focused on producing cannabis products for medical, wellness, health & beauty, natural health, and future legal adult use markets.
This news release contains certain forward-looking statements, including, but not limited to, statements about Pure Global's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Pure Global cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Pure Global assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Pure Global Cannabis Inc.
For further information: regarding Pure Global, please contact: Stephen Pynn, VP Corporate Development, Telephone: 1-866-899-PURE (7873), E-mail: [email protected]; Malay (Mel) Panchal, President & CEO, Telephone: 1-866-899-PURE (7873), E-mail: [email protected]