09:47 AM EST - Pure Extracts Technologies Corp. : Psyence Group Inc. (CSE: PSYG) and Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) announced the signing of a Letter of Intent to form a Joint Venture to develop superior techniques for the extraction of psilocybin from psychedelic mushrooms, as well as the development of advanced formulations containing psilocybin for the long-term treatment of psychological trauma and its mental health consequences. Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited about working with the deeply qualified science team at Psyence, one of only a handful of companies in the world operating a vertically integrated, federally licensed, psychedelic mushroom facility.” Dr. Justin Grant, Chief Scientific Officer of Psyence, commented, “This partnership with Pure Extracts will facilitate the importation of our standardized psychedelic mushrooms into Canada, giving us the opportunity to further optimize extraction methods and produce advanced products needed for safe clinical research. Our companies share the vision of providing the highest quality and most innovative psilocybin products for Canada, as evidenced by our facilities being constructed to GMP standards, and our commitment to rigorous scientific and clinical research for the development of transformational treatments for mental health disorders, with a particular focus on oncology palliative care.” Pure Extracts Technologies Corp.
shares C.PULL are trading up 1.15 percent at $0.44.
