PURA $1.5 Million Contract To Produce Private Labeled 25 mg CBD Beverage Moves Company Closer To 2019 $4 Million Revenue Target
Dallas, TX -- June 19, 2019 -- InvestorsHub NewsWire -- Puration, Inc. (USOTC: PURA) (”PURA”) management today emphasized that the $1.5 million contract to produce a 25 mg CBD beverage for which production initiated yesterday, represents new revenue on top of the company’s ongoing sales accounting for over $1 million in annualized revenue. The $1.5 million contract to produce the private label beverage is a major step toward PURA’s 2019 target of reaching $4 million in revenue.
With Kali-Extracts, Inc. (aka Kali, Inc.) (USOTC: KALY) (“KALY”) bringing their CBD extraction expertise based on the U.S. Patented Cannabis Extraction process that they own and operate, PURA has initiated production of a new beverage infused with 25 mg of hemp derived CBD. Most CBD infused beverages contain only 5 mg of CBD with a few containing 10 mg. Beverages with 25 mg of CBD are hard to find. PURA has been producing a CBD infused sports water infused with 10 mg of CBD since 2017. PURA markets and sells the CBD sports water under the brand name EVERx and achieved over $1 million in sales in 2018. PURA has the sole license of KALY’s U.S. Patented Cannabis Extraction Process. PURA and KALY have partnered on the development of a CBD extraction that can support a clear and sustained suspension at the 25 mg level. As of today, the production of a 25 mg CBD beverage has been initiated for production at a Texas facility. Texas Governor Greg Abbott signed a new law last week legalizing hemp and hemp-derived products. The 25 mg CBD beverage is being produced in fulfillment of a $1.5 million contract where PURA is producing the beverage under a private label for a third party. PURA has in turn engaged KALY for its extract expertise.
PURA Speculative Buy Recommendation and $0.25 PPS Target w/Potential to $0.35
Goldman Small Cap Research has released a new research report recommending PURA as a Speculative BUY with a $0.25 PPS Target. Goldman Small Cap Research further reports that the shares of PURA “have the potential to reach the $0.35 mark.” The report highlights PURA’s growing EVERx CBD Sports Water sales and the coming introduction of new beverages as well as the potential for the company to exceed its 2019 sales targets through the pending doubling of its production capacity and through planned acquisitions. The report further details recent updates intended to accelerate the issue of Nouveau (USOTC: NOUV) stock to PURA shareholders in a dividend distribution. Notably, the report points to the capacity and quality improvements enabled by the addition of a new team member with exceptional beverage industry professional experience.
For more information on Puration, visit http://www.purationinc.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.