In recent times, the plant extraction services industry related to hemp and marijuana has become quite important and one of the most important companies from that industry is Pure Extracts Technologies Corp (CSE:PULL) (XFRA:A2QJAJ).
Yesterday, the company made an important announcement with regards to its research and development initiatives and it was no surprise that it became the subject of the latest video from RICH TV LIVE. Over the past months, the RICH TV LIVE YouTube channel has become quite popular with investors, and the analyst at the channel covered the Pure Extracts update in the latest video.
Pure Extracts is a company that is engaged in plant-based extraction and primarily deals in cannabis, hemp, and functional mushrooms. In recent days, the company has been the focus on RICH TV LIVE for a slew of fresh development. Hence, it was no surprise that the latest development was covered as well.
In the latest announcement, the company announced that it is going to launch a study into the manufacturing and formulation of nasal gel, capsules, and pills that are based on psilocybin. All the products are going to be for active treatments but it should be noted that these items are going to be used as investigational products.
The potential pivot to a new line of products could prove to be a significant move for the company’s future. However, that is not all. The company also announced that the studies are going to be conducted at the esteemed Toronto Institute of Pharmaceutical Technology and Dr.
Alexander McGregor, who is an important advisor for Pure Extracts, is going to be in charge.
Dr. McGregor is an inventor in the field of pharmaceutical sciences and has also won awards in his field. Hence, it could be said that Pure Extracts has managed to make an astute appointment for this project. That being said, the biggest take away from this move is that Pure Extracts has made a move into the new but potentially massive sector of psychedelic medicines. If the sector does grow then Pure Extracts early move into the sector could pay off handsomely. Take a look at the RICH TV LIVE video for more information.
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