PURA – Puration To Roll Out THC Savor Beverage In Canada
Dallas, TX -- November 1, 2019 -- InvestorsHub NewsWire -- Puration, Inc. (USOTC: PURA) today released details on the company’s plan to roll out its THC Savor beverage in Canada. Canada has recently legalized cannabis infused beverages and edibles in what is referred to as Cannabis 2.0. PURA’s THC Savor beverage is already designed and ready to be produced. Management has been waiting on the right market – on with good sized market opportunity and clear regulatory guidelines. Cannabis 2.0 presents that opportunity.
Last year, PURA acquired a Canadian cannabis business. That acquisition was later spun-off into Nouveau (USOTC: NOUV). The CEO of PURA, Brian Shibley, currently serves as the interim CEO of NOUV while the company is being restructured to accommodate its new cannabis business focus. NOUV’s primary focus is cannabis cultivation both in the U.S. and Canada. With a presence in Canada, NOUV will also serve as PURA’s first foot in the door to establish distribution for THC Savor in Canada. NOUV has already tackled the licensing process in Canada to be permitted to produce and sell THC Savor. NOUV is also working to establish a bottling relationship for the production of THC Savor.
PURA has the sole license of the U.S. Patented Cannabis Extraction Processes owned by Kali-Extracts (USOTC: KALY) and PURA worked closely with KALY in the development of THC Savor.
PURA realized $1 million in revenue last year in 2018 primarily from the sales of its EVERx CBD Sports Water. PURA reported another $1 million in revenue in just the first six months of 2019. PURA management has set a $4 million revenue target for year-end 2019. With PURA’s growing number of new distribution agreements in strategic markets, a recent analyst projection has PURA reaching $8 million in revenue in 2020.
As the THC Savor roll out in Canada proceeds, PURA will continue to provide additional updates.
The roll out details included in this release were originally scheduled to be published yesterday on October 31, 2019. The release was delayed one day by unforeseen circumstance.
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.