Cannabis Cultivator Puration is on the Verge of Expanding Into Canada
April 20 2018 - 9:56AM
InvestorsHub NewsWire
By Sean McCaughan
Puration Inc. (USOTC:PURA),
a cannabis cultivator which is controlled by American Cannabis
Innovations Conglomerated, announced that it is on the verge of
expanding into the
Canadian market with the impending acquisition of an unnamed
operation north of the border. The exact identity of the Canadian
partner appears to still be under wraps, but negotiations are close
to completion, according to a press release:
"Puration management
characterizes the ongoing development of the opportunity to acquire
an operation in Canada as “advanced” and “nearing completion.”
The acquisition would bring exceptional cultivation
talent and experience to Puration and put Puration in a good
position to potentially secure a license to cultivate cannabis in
Canada for the legal recreational marijuana market. Puration
has identified a substantial and underserved sector within the
recreational marijuana market both in Canada and within the states
in the United States that have legalized recreational marijuana
use. The company has secured conditional investment to back its
plan to capitalize on this substantial and underserved sector. The
first step in meeting investment conditions is to finalize the
acquisition in Canada. Puration management anticipates
finalizing the Canadian acquisition before the end of April. Stay
tuned."
Puration had originally
planned to make the Canadian acquisition with its sister company,
North American Cannabis Holdings, Inc. (USOTC:USMJ).
However, that company is currently in talks with another entity
interested in acquiring control over its operations, so Puration
moved forward on its own.
This announcement follows
on the heels of Puration’s acquisition of an established nursery in
the company’s home state of Texas. Last year, Puration purchased
First Choice Nursery, a conventional plant nursery, and converted
it into a 25-greenhouse marijuana cultivation facility, “in the
first step of a plan to grow the operation to 400 greenhouses.”
They will use those 400 greenhouses product cannabis extracts for
the Texan medical marijuana marketplace.
Originally Published On Potnetworks: https://www.potnetwork.com/news/cannabis-cultivator-puration-verge-expanding-canada
Potnetworks has also recently covered GW
Pharmaceuticals (GWPH), and General Cannabis Corps
(CANN)
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