PURA - Puration Announces LOI To Acquire Foothold In US $17 Billion European CBD Market Potential
November 04 2019 - 10:27AM
InvestorsHub NewsWire
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
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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