Pure Extracts and Grown Rogue form Joint Venture to Expand Product Offering in Michigan - RICH TV LIVE - August 19, 2021 - Pure Extracts Technologies Corp. (“Pure Extracts”) (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) today announced the signing of a Definitive Agreement for a joint venture between its Michigan subsidiary, Pure Extracts USA Inc., and Grown Rogue International Inc.’s (“Grown Rogue”) (CSE: GRIN) (OTC: GRUSF) Michigan subsidiary, Golden Harvests, LLC (“Golden”) to expand Grown Rogue’s product offering and bring Pure Extracts’ portfolio of products to Michigan. Grown Rogue is a multi-state operating (MSO) cannabis company with operations and assets in Oregon and Michigan.
In addition to Pure Extracts’ Pure Pulls and Pure Chews, Grown Rogue will be adding to their Michigan product portfolio to include concentrates and cartridges to complement their award-winning flower and their proprietary, 3.5gram, nitrogen sealed flower jars already one of the leading flower brands in the state.
"We are excited to expand our product offering in Michigan to include new products that doubles our addressable market in a top 5 cannabis state," said Obie Strickler, CEO of Grown Rogue. "We have consumers that actively seek out the processors who purchase our trim for their own products so this joint venture will help fulfill the increasing demand for Grown Rogue's high quality products in the state of Michigan, increase the strong brand equity our team is building, and capture additional margin for the company."
Pure Extracts is a plant-based extraction company focused on cannabis and hemp based out of British Columbia, Canada. Pure Extracts will provide a mix of equipment, cash, and extraction expertise to the venture, which will allow the partners to rapidly scale-up to meet the rising demand for processed products throughout the state.
The joint venture plans to build-out 2,600 square feet of existing space in the 80,000 sq ft facility in Bay City. The JV has the ability to produce Grown Rogue branded concentrates, cartridges, edibles and tinctures as well as similar items under Pure Extracts’ brand. The JV will consider building dedicated greenhouse production to provide cheaper processing input for house brands and available white label opportunities.
“We are excited to be teaming up with Grown Rogue, renowned cultivators who have already sold their cannabis products to over 100 dispensaries throughout Michigan, a state where cannabis sales reached a record $171 million in July of this year, up 56% from a year ago,” said Ben Nikolaevsky, CEO of Pure Extracts. “Establishing Pure Extracts’ brands in the United States, the world’s largest and most important cannabis market, is an important milestone for our company.”
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