DALLAS, April 17, 2018 /PRNewswire/ — Puration, Inc. (USOTC: PURA) today released an update on the company’s cannabis cultivation business. The company acquired First Choice Nursery last year to establish a 25-greenhouse operation in the first step of a plan to grow the operation to 400 greenhouses. First Choice Nursery began booking its first sales in the first quarter of this year. Recently the company has been developing an acquisition opportunity in Canada to enter the market for recreational marijuana expected to be legalized this summer. Management anticipates closing the Canadian acquisition before the end of April. The presentation released by management today includes details on the company’s progress with both First Choice Nursery and the acquisition in Canada. The presentation narrative is included in its entirety below.
A Brief History Of Puration And Highlights On Its Recent Grow Operation Evolution
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Puration entered the cannabis sector in 2015 with a patented extraction process and plans to produce the best cannabis extract for infusion into beverages and edibles. Puration quickly found the market was not yet clamoring for extract. Major brand names like Nabisco and Kellogg’s still aren’t ready for a cannabis infused version of their products and the start-up beverage and edible companies have limited demand. So, management made the decision to apply its patented extraction process to its own cannabis infused consumer products. Early in 2017, Puration introduced EVERx, a CBD infused sports nutrition supplement line. Namely, the first product was the EVERx CBD Infused Sports Water. Later this week on Thursday, April 19th, the company will release a more detailed update on its progress with EVERx and details on new cannabis infused consumer products coming soon.
A major component of having the best cannabis extract is having the best cannabis plants from which to extract cannabinoids. Cannabis cultivation is a natural extension of Puration’s long-term development. Being headquartered in Texas, it made sense to take advantage of new medical marijuana laws in Texas. Accordingly, Puration acquired an older conventional nursery operation, First Choice Nursery, and immediately began renovations. Puration is now utilizing the 25-greenhouse facility conventionally and anticipates growing to $1 million in annual sales from conventional nursery operations. First Choice Nursery started booking its first sales since the Puration acquisition in the first quarter of this year. Puration has an option on acquiring another 400 greenhouse pads. Puration is working to secure a medical marijuana cultivation license in Texas with future plans to migrate the conventional nursery operation into a cannabis cultivation operation.
Canadian Cannabis Cultivation Expansion
The Canadian Government has announced plans to legalize recreation marijuana nationally in the summer of 2018. Puration originally partnered with its sister company, North American Cannabis Holdings, Inc. (USOTC: USMJ) to look for and acquire an operation in Canada that would accelerate market entry into Canada for both companies. North American Cannabis Holdings has recently engaged in discussions with a party interested in potentially acquiring control of North American Cannabis Holdings. In conjunction with North American Cannabis Holdings current discussions, Puration is advancing the opportunity in Canada on its own.
Puration management characterizes the ongoing development of the opportunity to acquire an operation in Canada as “advanced” and “nearing completion.” The acquisition would bring exceptional cultivation talent and experience to Puration and put Puration in a good position to potentially secure a license to cultivate cannabis in Canada for the legal recreational marijuana market. Puration has identified a substantial and underserved sector within the recreational marijuana market both in Canada and within the states in the United States that have legalized recreational marijuana use. The company has secured conditional investment to back its plan to capitalize on this substantial and underserved sector. The first step in meeting investment conditions is to finalize the acquisition in Canada. Puration management anticipates finalizing the Canadian acquisition before the end of April. Stay tuned.
The Cannabis Infused Beverage Presentation Thursday April 19th
On Thursday, April 19th, later this week, the company will present an update on the company’s ongoing cannabis infused beverage sales led today with its EVERx CBD Infused Sports Drink. The company has recently signed new distribution contracts, details of which will be included in the presentation on Thursday, in addition to details on the company plans to soon announce a new cannabis infused beverage line for the legal recreational marijuana markets.
For more information on EVERx, visit http://www.drinkeverx.com.
For more information on Puration, visit http://www.aciconglomerated.com.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
SOURCE Puration, Inc.
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