When the markets in Toronto seemed a tad sluggish Monday, one cannabis concern was coming out with tidings that appeared to lift investors’ moods.
Toronto-based Pure Global Cannabis Inc. (TSX-Venture:PURE) received approval from Health Canada for its most recent license amendment request allowing for the sale of cannabis oil products, including high cannabidiol and premium craft cultivars that will become available soon for medical and legal adult patients.
This go-ahead from the Feds will allow PURE to expand significantly its product offerings to the medical and consumer markets with oils and post-derivative cannabis products, which are seeing growing demand.
Nor is this the end of it: the Company already has prepared oils formulations, as well as purification, processing, and packaging equipment in place for this next phase of operations. It has the capacity to purify, formulate, and process 10 litres of oil per day, 10,000 capsules per hour, 10,000 vape cartridges per hour, and 2,000 oils bottles per hour.
Said CEO Malay Panchal, "This is an important milestone in our company's history which will significantly expand our product offerings for the medical and legal adult channels.
"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," commented Malay Panchal
Shares in PURE sprouted a penny, or 11.1%, to a dime early Monday afternoon, on volume of 720,000 shares.