PURA - Puration Announces LOI To Acquire Foothold In US $17 Billion European CBD Market Potential
Dallas, TX -- November 4, 2019 -- InvestorsHub NewsWire -- Puration, Inc. (USOTC: PURA) today announced executing a letter of intent to acquire a company headquartered in Germany as part of a strategy to bottle PURA’s CBD infused beverages locally. PURA recently announced a distribution agreement in Europe for its EVERx CBD Sports Water with other CBD infused beverages to follow. The initial agreement is estimated to add $4 million in sales next year. Management indicates that the potential of European distribution beyond the initial $4 million projection warrants the establishment of a local bottling capacity. The European market for CBD is project to reach nearly US $17 billion by 2023. PURA management anticipates the acquisition can be completed by the end of next week.
PURA realized $1 million in revenue last year in 2018 and then 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.
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.