February 26, 2020 - By Jason Abbott

Puration Inc (OTCMKTS:PURA) confirmed Kali Extracts accepted its offer to sell CBD confections operation. The company hired the services of an independent third party to render a fairness option after evaluating the CBD confections operation. It expects to receive the fairness opinion within two weeks.

A campaign to takeover CBD infused beverages

Puration has recently introduced a campaign to take over CBD infused beverages, topical and edible operations. The company also mobilized $5 million for the acquisition campaign. It will secure the $5 million investment with the acquired assets. The company will repay the debt using its stock at $0.10 per share. Puration expects to take over CBD pet products operation on February 27, 2020. The deal is in exchange for the ongoing royalty payments. It will also hire the services of an independent third party to evaluate CBD Pet Products operation if the seller accepts its offer.

The demand for CBD Pet products

In the US, the market for CBD Pet products expects to reach $1.16 billion by the year 2022 from $32 million in 2018. Brian Shibley, Chief Executive Officer of Puration, said the company recently secured an investment of $5 million for the acquisition of CBD infused edibles, beverages, and topicals. The company also targets CBD pet for acquisition. Puration maintains a growing customer base for its concierge pet services. It offers concierge pet services via its mobile app.

EVERx CBD Sports Water to feature at Arnold Sports festival

According to a communiqué from Puration, EVERx CBD Sports Water will be featured this year at an upcoming Arnold Sports Festival, which will be held in Columbus, Ohio during March 5, 2020, and March 8, 2020. 22,000 athletes from eighty nations across the world will compete in the upcoming sports festival in over 80 events.

Puration has previously introduced EVERx CBD Sports Water at Arnold Sports festival three years ago for the first time. The company has expanded the marketing of EVERx CBD sports water at Arnold events in Europe, and Africa besides the US. EVERx is now a leading CBD infused beverage for athletes worldwide. Puration also distributes EVERx CBD Sports water in Africa, the US, Latin America, and Europe.

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Source - Jason Abbot, Facts About CBD

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