PURA - Puration Inc Announces 1:5 Nouveau Stock Dividend Declaration
November 15 2018 - 8:33AM
InvestorsHub NewsWire
PURA - Puration Inc Announces 1:5
Nouveau Stock Dividend Declaration
Dallas, TX – November 15, 2018 –
Puration, Inc. (USOTC:
PURA) (“PURA”) today announced that Nouveau Life
Pharmaceuticals, Inc. (USOTC:
NOUV) (“NOUV”) has formally declared a 1:5 stock dividend
whereby NOUV common stock will be issued to the shareholders of
PURA at a ratio of one NOUV common share for every five shares of
PURA held on the yet to be determined date of record. The
NOUV board of directors as resolved to restructure NOUV and issue
the stock dividend to PURA shareholders in conjunction with PURA’s
spinoff of its cannabis cultivation business to NOUV announced October 4, 2018. Subject to
necessary regulatory and administrative authority approvals, NOUV
plans to set a date of record for the dividend for approximately 30
days from now, and a pay date just after the first of next
year.
On October 4, 2018, PURA sold its cannabis
cultivation business to NOUV in exchange for a $1.2 million
convertible note with a commitment that the note would promptly be
converted to common shares of NOUV and that those converted shares
would be distributed in a stock dividend to the shareholders of
PURA. As of today, NOUV has resolved to execute a 1:400 stock
reverse and immediately thereafter issue sufficient shares in
fulfillment of the $1.2 million convertible note whereby PURA
shareholders will receive one post reverse common share of NOUV for
every five shares held of PURA. NOUV has already made
substantial progress toward resolving its current financial
reporting delinquency. NOUV anticipates having its financial
reporting current within the next two weeks. Subsequently,
NOUV will file with FINRA to affect the declared reverse split and
stock dividend.
NOUV plans to keep NOUV and PURA
shareholders up to date on the stock dividend process, in addition
to updating shareholders on the new post cannabis cultivation
business acquisition plans from a new corporate website anticipated
to launch next week. With the updated website, NOUV’s
communication contact information will also be
updated.
Learn more about Puration at www.purationinc.com
Learn more
about the cultivation business at
https://www.purationinc.com/extraction
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.
Puration,
Inc.
Brian Shibley,
info@aciconglomerated.com
(800) 861-1350
Puration (CE) (USOTC:PURA)
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