Pure Extracts Technologies Corp. Provides Update on Base Shelf Prospectus and Deemed Exercise of Special Warrants

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Not for distribution to United States newswire services or for release, publication, distribution or dissemination, directly or indirectly, in whole or in part, in or into the United States.

VANCOUVER, British Columbia, March 08, 2021 (GLOBE NEWSWIRE) — Pure Extracts Technologies Corp. (“Pure” or the “Company”) (CSE: PULL) is pleased to announce that, further to its press release on January 21, 2021, its final base shelf prospectus (the “Base Shelf Prospectus”) has been filed with the securities commissions in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia and Prince Edward Island (“Qualifying Jurisdictions”). A final receipt for the Base Shelf Prospectus was received on March 4, 2021.

Following completion of the approval process, the Company has filed a prospectus supplement (the “Prospectus Supplement”) in the Qualifying Jurisdictions to qualify the issuance of 16,895,491 common shares (the “Underlying Shares”) and 8,447,739 common share purchase warrants (the “Underlying Warrants”) issuable upon conversion of the 16,895,491 outstanding special warrants of the Company (the “Special Warrants”) that were announced in the Company’s press releases of January 5, 2021 and January 21, 2021. The Special Warrants will automatically convert, and the Underlying Shares and Underlying Warrants will be issued, on March 10, 2021 in accordance with the terms of the Special Warrants.

Copies of the Base Shelf Prospectus and Prospectus Supplement can be found on SEDAR at http://www.sedar.com or may be obtained upon request from the Company, 7341 Industrial Way, Unit 6, Pemberton, BC, V0N 2K0 (Attention: Chief Financial Officer). Investors should read the Base Shelf Prospectus and the Prospectus Supplement, together with the documents incorporated therein by reference, for additional information regarding the Special Warrants, Underlying Shares and Underlying Warrants.

Neither the Base Shelf Prospectus or the Prospectus Supplement has been filed with the U.S. Securities and Exchange Commission and, accordingly, the issuance of the Underlying Shares and Underlying Warrants has not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may only be offered or sold within the United States pursuant to applicable exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualifications under the securities laws of any such jurisdiction.

About the Company

The Company holds a Standard Processing License under the Cannabis Act granted by Health Canada on September 25, 2020 to Pure Extracts Manufacturing Corp., the Company’s wholly-owned subsidiary. The Company is undertaking the operations of toll processing, white labelling, and developing its own private label of products incorporating its full spectrum THC and CBD based extracted oils. Additionally, the Company is presently expanding its business to include functional mushrooms extraction by working on functional mushroom extraction processes compatible with its existing infrastructure. The Company has a fully built C02 extraction facility built to European Union GMP standards, and intends to seek EU GMP certification of its operations allowing it to export its products for sale in Europe where such products are legal.

For further information, please contact Empire Communications Group at (604) 343-2724.

ON BEHALF OF THE BOARD

“Ben Nikolaevsky”
__________________________
Ben Nikolaevsky
CEO and Director

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts are forward-looking statements. Although the Company believes the expectations expressed in its forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of the Company’s future performance. Although the Company believes the expectations expressed in its forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees. For more information on the Company, Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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