Power Leaves Corp. Signs Supply Agreement With Pure Spirits
TORONTO, Ontario , April 09, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Power Leaves Corp. (“PLC”), a leading manufacturer and international distributor of decocainized coca leaf derivatives, proudly announces the execution of a non-exclusive supply agreement (the “Agreement”) with Pure Spirits Inc. (“Pure Spirits”). Under the Agreement, PLC is supplying Pure Spirits with its decocainized Coca X (Extract) and Coca E (Essence) products at a price of US$100/L.
Pure Spirits, an innovator in the Canadian Spirits Industry, has Purchased PLC’s Coca X (Extract) and Coca E (Essence) to Expand Their Product Offerings
TORONTO, Ontario , April 09, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Power Leaves Corp. (“PLC”), a leading manufacturer and international distributor of decocainized coca leaf derivatives, proudly announces the execution of a non-exclusive supply agreement (the “Agreement”) with Pure Spirits Inc. (“Pure Spirits”). Under the Agreement, PLC is supplying Pure Spirits with its decocainized Coca X (Extract) and Coca E (Essence) products at a price of US$100/L.
"We are thrilled to expand our coca derivatives business in Canada with a true pioneer in the spirits and beverage industry. Through a close collaboration with Pure Spirits, we will work to develop novel, market-leading beverage products with the beloved taste of our Coca X and Coca E ingredients,” commented Pat McCutcheon, Co-Founder & CEO of PLC. “Paired with Pure Spirits’ track record as an excellent B2B & white-label partner for other spirit brands, this agreement will give PLC a strong foothold as we expand into the multi-billion dollar spirits market with our truly disruptive ingredients.”
The Agreement also includes provisions for co-branding, where PLC and Pure Spirits will explore the use of PLC-related branding, such as “Powered by PLC” or “Powered by Power Leaves,” with a goal of generating sustained product appeal and marketability by capitalizing on the combined expertise and brand recognition of both companies.
This collaboration aligns well with Pure Spirits' mission to craft unique and flavorful beverages, enhancing their extensive product range, which includes both exclusive brands and white-label B2B solutions. This strategic partnership is expected to lead to broader engagement within the Canadian market by leveraging Pure Spirits' established distribution channels.
“As we continue to bring PLC’s disruptive coca derivatives to market, we remain incredibly excited by the overwhelmingly positive feedback we receive from potential customers on the truly novel and exceptional flavor profile of our coca products. We are optimistic that 2024 will be the year that the incredible taste of the coca plant becomes available to the masses.”
This announcement follows an earlier press release announcing that PLC has entered into an LOI for an RTO targeting a public listing in H1 2024.
About PLC’s Products
PLC has developed proprietary coca extracts and derivatives optimized for flavor and aroma that will serve as the foundation for its commercial products:
- Coca X: A crude coca extract with an exceptional flavor profile and packed with an array of nutrients that is ideal for soft drinks and energy drinks.
- Coca E: A highly aromatic, terpene-rich concentrate for dilution and blending into alcoholic beverages such as gin, vodka, tequila, and hard seltzers.
About Investing In Power Leaves Corp.
PLC is currently accepting investments from accredited investors through a Reg D 506(c) offering. PLC will be closing this offering to investors on April 19, 2024, as it prepares for its potential reverse takeover transaction. To learn more about investing in PLC visit invest.powerleaves.com.
About Pure Spirits Inc.
Located in Canada, Pure Spirits Inc. crafts its high-quality spirits within a 64,000 sq ft facility, once the Ontario Tobacco Growers Auction Exchange Warehouse. Their spirits are distinguished by a commitment to natural ingredients and a quadruple distillation process, ensuring a clean and smooth finish. This dedication to quality, combined with the use of naturally filtered water from Norfolk County, embodies their mission to elevate the standard of flavor and quality in alcoholic spirits. For more information, visit https://purespiritsworld.com/our-story.
About Power Leaves Corp.
Founded in 2019, Power Leaves is breaking the monopoly on the supply of coca leaf extract and ushering in a new Age of Coca. Through an exclusive agreement with an Indigenous community, Power Leaves has developed the first-ever legal Colombian supply chain for decocainized coca extract to supply the global food and beverage markets. Through its established infrastructure, Power Leaves is developing and manufacturing proprietary formulations of coca extract and essence that offer an exceptional taste profile and an all-natural source of protein, nutrients, and positive health benefits. For more information, visit www.powerleaves.com.
PLC Media Contact:
Americana Communications
Investors:
Investor Relations
Cautionary Notes
The links included in this press release are included for reference purposes only and the information on or connected to these websites is not part of, or incorporated by reference into, this press release.
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected" "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could, "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; fulfilling future purchase orders with Pure Spirits; the co-branding of PLC and Pure Spirits; a successful collaboration and partnership of PLC and Pure Spirits; leveraging Pure Spirits’ distribution channels; expanding PLC’s products across Canada and in the spirits market, the proposed closing of PLC’s Reg D 506(c) offering and the delay or failure to receive any regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, PLC assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
