PURA - Puration Announces LOI To Add Third Cannabis Beverage To Portfolio
DALLAS, Oct. 05, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Puration, Inc. () (“PURA”) today announced a letter of intent to acquire a new cannabis beverage company. The Company has recently launched a strategy to concentrate all its efforts on expanding its existing cannabis infused beverage business. Puration introduced its first cannabis infused beverage, EVERx CBD Sports Water, last year and has since reported 600% revenue growth. The company has also announced a THC infused beverage, THCSavor, currently in development for launch select markets. Today the company is announcing a letter of intent to acquire a third cannabis sector beverage company. PURA management plans to present further details on the planned acquisition announced today in conjunction with the company’s overall cannabis infused beverage business expansion strategy in an online presentation one week from today, on Thursday, October 11th, 2018.
Puration Cannabis Cultivation Spinoff and Planned Dividend
Earlier yesterday PURA announced spinning off its cannabis cultivation business. The spinoff is part of the overall strategy for Puration to concentrate ongoing business development efforts on the company’s flourishing cannabis infused beverage business. The spinoff announced yesterday has been effected through the execution of a securities exchange agreement with Nouveau Life Pharmaceuticals, Inc., () (“NOUV”). PURA has sold its cannabis cultivation business in exchange for a convertible purchase note issued by NOUV. PURA and NOUV have agreed to a recapitalization plan for NOUV and a post recapitalization conversion of the purchase note into a number of common NOUV shares sufficient to issue one NOUV common share for every five shares of PURA common shares issued and outstanding. All of the NOUV common shares issued in conversion of the purchase note are slated for distribution to PURA shareholders in a dividend distribution. Further details on the spinoff transaction announced earlier today in conjunction with the company’s overall cannabis infused beverage business expansion will be included in the online presentation next week, on Thursday, October 11th, 2018.
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Disclaimer/Safe Harbor:
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.
Puration, Inc.
Brian Shibley,
(800) 861-1350
