DALLAS, July 11, 2017 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) today announced a
$1.2 million sales contract. The
sales contract comes in conjunction with PURA's recently announced
letter of intent (LOI) agreement to acquire a
twenty-five greenhouse grow operation. The sales contract calls for
a wholesale purchase of all PURA's production from the
25-greenhouse operation up to $100,000 per month. The acquisition under LOI is
expected to close before the end of this month and include
expansion terms that could lead to the addition of another 400
irrigated greenhouse pads ready for buildout.
Potential for expansion to $16
million in annual sales and beyond
The $1.2 million sales contract
will be fulfilled from the production coming from the operation of
the 25 greenhouses currently under LOI. The operations under
LOI have historically grown and sold traditional greenhouse flowers
for use in residential landscaping. The original nursery operation
had a long history that includes contracts with Lowes (NYSE: LOW)
and Home Depot (NYSE: HD). Puration plans to use proceeds from the
traditional nursery operation to expand the operation into its full
400 greenhouse potential. The operation is located in regions
of East Texas well known for
nursery operations. Texas has
recently legalized medical marijuana and is pending the issuance of
its first licenses. Puration intends to transition to marijuana
growing overtime in conjunction with the legalization process. In
the meantime, Puration anticipates the traditional nursery
operations have the potential to expand to as high as $16 million in annual sales. Medical
Marijuana sales can be substantially higher. Puration plans
to develop its own proprietary strains of Hemp and Marijuana within
the acquired greenhouse operation in order to enhance the
Company's existing extraction business.
Puration's U.S. Patented Cannabis Extraction
process
Puration has a U.S. Patented Cannabis Extraction process
licensed from NCM Biotech. The license of the process to Puration
is the first and only license NCM Biotech has executed. R&D
with NCM Biotech's patented process has demonstrated a high
potential for bringing FDA approved pharmaceutical products to
market for the treatment of multiple neurological disorders and
cancer. NCM Biotech's medical advisory team includes
John N. Gaitanis, M.D., Director of
Child Neurology at Tufts Medical Center/Floating Hospital for
Children; Lloyd R. Saberski, M.D.,
Associate Professor of Anesthesiology and Chronic Pain Management,
Yale University, and John McMichael, Ph.D., President and CEO
Beech Tree Labs.
Puration's NCM Biotech Extractions compared to
GW Pharmaceutical (NASDAQ: GWPH)
"I have received doctor feedback from more than one of our
research initiatives that extracts coming from NCM Biotech's
patented process are superior in purity and quality to any other
available cannabis extracts," said Frederick Ferri, CEO and Founder of NCM Biotech.
"Some feedback has specifically indicated that a number of our
candidate pharmaceutical products under development have a greater
efficacy potential than GW Pharmaceutical products and
candidate products."
Learn More About PURA: purationinc.com.
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 Contact:
Brian Shibley
CEO
info@purationinc.com
+1-214-937-9097
SOURCE Puration, Inc.