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Pure Extracts Technologies Corp.(CSE: PULL / OTC: PRXTF / XFRA: A2QJAJ)-Extracts Company Positioned for Cannabis 2.0 and Mushrooms – Initiating Coverage

Pure Extracts is a B.C. based licensed cannabis extraction company that went public on November 25, 2020. The company has a 10,000 sq. ft. facility used for white labeling and toll processing services of high purity extracts, as well as for manufacturing its own branded products (to be introduced) such as Pure Pulls, Pure Chews, and Pure Oils.

European Residential REIT (TSX: ERE.UN) Record 2020 Results Prompt an Increase in Distributions

Since our initiating report, ERES acquired multi-residential properties totalling €35M in the Netherlands. Suites under management increased to 6,047 by the end of 2020, up 7% YoY. ERES expects to continue to grow through acquisitions in the Netherlands. We estimate the company has access to €240M in funds for acquisitions. Rent collections through the pandemic have been in line with historical averages. Rents grew 3.7% in 2020. Management expects the portfolio average rent to grow 3%-4% in 2021.

Steppe Gold Limited (TSX: STGO / OTC: STPGF) Extended Mine Life With an Updated Resource

An updated resource estimate reflected an 82% increase to 2.45 Moz Au Eq (gold equivalent) vs the 2017 reserve/resource estimate of 1.35 Moz. 88% of the 2021 resource is in the M&I category. The significant increase in resources was a result of resource expansion at ATO-4 (one of three known mineralized pipes), inclusion of a maiden resource at Mungu, and lower cut-off grades amid higher gold prices.

Monarch Mining Corporation (TSX: GBAR) – Formed After Selling Predecessor Company to Yamana for 5x Return – Initiating Coverage

Monarch Mining (“Monarch”) was spun-out from Monarch Gold, which was acquired by Yamana Gold (TSX: YRI) for $152M in December 2020. Yamana acquired Monarch Gold’s Wasamac property and the Camflo mill for $61M in cash, and $91M in shares.Prior to the acquisition, four advanced stage gold assets, and the Beacon mill, in the Abitibi mining camp in Quebec (valued at $47.5M), and $16M in cash, were spun-out into newly formed Monarch Mining. The assets sold to Yamana were part of a portfolio acquired from Richmont Mines in 2017 for just $25M. The sale to Yamana reflected a return of over 5x in under four years. Monarch Mining is run by the same team that ran Monarch Gold.

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Pure Extracts Technologies Corp.(CSE: PULL / OTC: PRXTF / XFRA: A2QJAJ)-Extracts Company Positioned for Cannabis 2.0 and Mushrooms – Initiating Coverage

Pure Extracts is a B.C. based licensed cannabis extraction company that went public on November 25, 2020. The company has a 10,000 sq. ft. facility used for white labeling and toll processing services of high purity extracts, as well as for manufacturing its own branded products (to be introduced) such as Pure Pulls, Pure Chews, and Pure Oils.

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