Cannabis extraction company Pure Grown Extracts, LLC has obtained a medical prequalification status letter from the Michigan Marijuana Regulatory Agency.
Pure Grown Extracts is a Michigan extraction joint venture between Pure Extracts Technologies Corp. (CSE:PULL) (OTCPK: PRXTF) (XFRA: A2QJAJ) and Grown Rogue International Inc.'s (CSE:GRIN) (OTCEM: GRUSF) partner, Golden Harvests, LLC.
The goal of the JV is to bring Pure Extracts' portfolio of products to Michigan and to expand Grown Rogue's product offering.
This letter was issued pursuant to the licensing provisions of the Medical Marihuana Facilities Licensing and associated rules and allows Pure Grown Extracts to submit a facility license application 60 days prior to when the facility will be ready for inspection by the MRA.
"We are excited to be ramping this project up with Golden Harvests in Michigan, where cannabis sales continue to set records with monthly sales up over 50% from a year ago," Ben Nikolaevsky, CEO of Pure Extracts. "Establishing Pure Extracts' brands in Michigan, an important state in the large US cannabis market, is a critical milestone for our company."
The joint venture plans to build out existing space in the 80,000 sq. ft. facility in Bay City where it has the ability to produce Pure Extracts' branded concentrates, cartridges, edibles and tinctures as well as a suite of Grown Rogue products capturing the west coast innovation they are known for.
"We are pleased to have received such a timely response from the MRA on our medical cannabis processing application and look forward to finishing the construction and getting additional award-winning products into the Michigan market to supplement our leading flower brand already established in the state," said Obie Strickler, CEO of Grown Rogue.
Price Action
Pure Extracts shares traded 0.46% lower at $0.09 per share at the time of writing Wednesday morning.
Photo: Courtesy of Richard T on Unsplash