Pure Extracts Technologies Corp (OTCMKTS:PRXTF) fell 11%. The comp and Psyence Group Inc. have announced the incorporation of a new joint venture firm, Pure Psyence Corp, to develop naturally derived psilocybin extracts and advance psilocybin formulation for psychological trauma treatment and associated mental health issues.
Pure Psyence wants to be a leader in nature-derived psilocybin extraction for advanced formulations production and clinical research. Notably, the joint venture will capitalize on Psyence’s in-house grown, premium, standard psilocybin mushrooms supply with Pure Extract’s experience in extraction tech to create high-purity, high-quality medical mushroom formulations, and extracts from pharmaceutical use.
CEO of Pure Extracts Ben Nikolaevsky said that Pure Psyence is at the center of evidence-based nature and science. The researchers, physicians, and scientists at Pure Science are uniquely positioned to deliver psilocybin in whole mushroom measurable medicinal dosages to the market. Plant-based extraction firm Pure Extracts is a full spectrum oil extract with massive experience in hemp, cannabis, and functional mushrooms. So, PRXTF is worth keeping an eye on.
Market Reaction:
On Tuesday, PRXTF stock fell 11% at $0.2128 with more than 377k shares, compared to its average volume of 483k shares. The stock has moved within a range of $0.2100 – 0.2342 after opening the trade at $0.2238.
