PURA CBD Acquisition Pipeline Grows Targeting $1 Billion CBD Pet Product Market
February 12 2020 - 2:23PM
InvestorsHub Cannabis NewsWire
PURA CBD Acquisition Pipeline Grows
Targeting $1 Billion CBD Pet Product Market
Dallas, TX -- February 12, 2020 --
InvestorsHub NewsWire -- Puration, Inc. (USOTC:
PURA) today announced adding a second acquisition prospect to
its acquisition pipeline with an offer extended to acquire a CBD
Pet Products operation. The Brightfield Group, a cannabis-focused research outfit, estimates that the
CBD pet products market could grow from the $32 million
reported in 2018 to
$1.16 billion in the U.S. alone by
2022.
“We recently
announced securing a $5 million investment at $0.10 per share to
fund the acquisition of CBD infused beverages, edibles and
topicals,” said CEO Brian Shibley. “Surprise, our CBD infused
target opportunities will include pet products and our first
candidate is ideal. The company provides concierge pet
services through a mobile app portal and already has a thriving
client base. They have been developing CBD products and PURA
is pursing the acquisition of the CBD products division prior to
the launch of the product line. The terms under discussion
are attractive to both seller and buyer. The proposed
purchase price is in accordance with the pre-launch scenario and
seller benefits from PURA funding the marketing
launch.”
PURA announced earlier today making a
formal proposal to acquire Kali-Extracts Hemp4mula CBD Infused
Confections operation. On Monday, earlier this week, PURA
announced closing on a $5 million investment to fund the
prospective acquisition of cannabis infused beverage, edible and
topical operations. The $5 million investment is structured as a
debt facility whereby funds can be drawn as needed to fund
acquisitions. The drawn funds would be secured by the
acquired asset and the debt can be repaid in stock at $0.10 per
share. Hemp4mula is the first target acquisition for PURA in
an anticipated series of
acquisitions.
For more information on Puration,
visit http://www.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.
Contact:
Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
(800)
861-1350
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