PURA And GRCO Announce Plan To Issue Stock Dividend In New Cannabis Extraction Spinoff To Shareholders Of Both Companies
Dallas, TX -- January 16, 2018 -- InvestorsHub NewsWire -- Puration, Inc. (OTC: PURA) (Puration) and Greenbelt Resources Corporation (OTC: GRCO) (Greenbelt), in a further update to their letter of intent agreement announced last month, today announced plans to issue stock in an independently listed new cannabis extraction operation through a stock dividend distribution to the shareholders of both companies. The new company is intended to result from an alliance between Puration and Greenbelt to build and operate a cannabis extraction operation. Puration plans to structure its extraction capacity into a new subsidiary and through the new subsidiary, enter into an alliance with Greenbelt that leverages its expertise in, and supply of, bioethanol. The next step will be to spinoff the cannabis extraction subsidiary in conjunction with a Regulation Crowdfunding transaction to capitalize the new company. In conjunction with the spinoff, the new company plans to distribute a stock dividend to the shareholders of both Puration and Greenbelt.
Puration recently published an online presentation on the company’s website highlighting the details on the company’s initial plans to jointly develop a cannabis extraction operation Greenbelt.
About Greenbelt Resources
Greenbelt Resources Corporation™ is an award-winning provider of sustainable energy production systems focused on delivering modular solutions that enable the localized processing of locally generated waste into locally consumed products. Greenbelt designs, develops and implements technology that makes the production of advanced biofuel reliable, practical and efficient. Controlled by proprietary automated controls, Greenbelt’s small-scale, end-to-end modular systems convert food, beverage and other cellulosic wastes into commercially viable advanced biofuels (bio-ethanol), animal feed, fertilizer and filtered water. For more information visit www.greenbeltresources.com.
Forward-Looking Statements & Safe Harbor
This document includes certain statements, predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the supply and demand for biofuels, our ability to remain technologically competitive and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.
Puration is engaged in the development of standardized and repeatable cannabidiol extraction processes that can deliver a consistent and high-quality concentrate for infusion into consumer food and beverage products that appeal to the recreational and wellness market segments. For more information visit www.aciconglomerated.com.
This document includes certain statements, predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the supply and demand for biofuels, our ability to remain technologically competitive and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. 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.
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