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NEW YORK, March 11, 2021 /PRNewswire/ — The cannabis edibles market is looking up as top US lawmakers show their support for the legalization and decriminalization of cannabis at the federal level. More states are also legalizing recreational cannabis, with states like Virginia getting closer to this step following the recent passing of a bill by the House of Delegates and the Senate. As these potential regulatory changes continue to occur, companies in the cannabis industry are taking steps to move into the US market with edibles that match the current regulatory framework. Among these companies are Pure Extracts Technologies Corp. (CSE:PULL) (OTCPK:PRXTF), Sundial Growers Inc. (NASDAQ:SNDL), Fire & Flower Holdings (TSX:FAF) (OTCQX:FFLWF), OrganiGram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), and Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).
New Collaborations Could Strengthen Prospects into the International Cannabis Market
Pure Extracts Technologies Corp. (CSE:PULL) (OTC:PRXTF) (XFRA: A2QJAJ), a plant-based extraction company, recently announced a licensing deal with Taste-T, LLC, a US-based firm that produces the Fireball brand of gummies using a proprietary manufacturing system. Taste-T sells its products in states such as Massachusetts, Michigan, Nevada, and Oklahoma.
The agreement gives exclusive rights to Pure Extracts in the Canadian market and first rights to other countries in the world. Ben Nikolaevsky, Pure Extracts’ CEO remarked, “[the Taste-T] gummy line up represents a great opportunity for our Company to leverage one of the few US cannabis products that can legitimately be called a ‘brand’ and of course, as a Canadian Company, Pure Extracts is ideally suited to export these products to numerous countries around the world.” Pure Extracts will distribute these products in Canada under their Pure Chews brand in compliance with Health Canada’s regulations.
Pure Extracts also partnered with Canada House Wellness Group, an integrated medical cannabis company. Through the