DALLAS, June 7, 2017 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) today announced that American Cannabis InnovationsConglomerated (ACI) has completed the acquisition of a controlling interest in PURA. ACI is a private equity backed rollup founded to combine a variety of leading young cannabis companies with complimentary offerings and synergistic operations. PURA
PURA Increase $3 Million Annual Revenue Target & Extends Operating Reach
PURA has revised its on-demand, online business plan presentation on the Company's website with updates to the Company's plan to achieve $3 million in annual revenue from its cannabis extraction operation. The revised plan increase is anticipated to add an additional $1 million to the topline and possibly as much as an additional $3 million in the event pilot product market tests with new extraction edible and beverage partners go well. The plan also outlines the Company's extension into the cannabis tourism industry initiated earlier this year in an agreement with ML Capital Group.
PURA Market Capitalization Improvements Summary - No Reverse or Forward Split
The common stock of PURA will remain traded on the OTC Markets with no forward or reverse split taking place in conjunction with the ACI transaction. ACI expects the potential for market capitalizations of PURA to improve by transitioning the Company toward better investment structures, with better terms, that are altogether better suited to the current and more mature stage of development. For instance, PURA recently announced a substantial convertible debt elimination in conjunction with the pending ACI transaction in addition to a $10 million funding commitment.
Learn more about PURA: 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.
Puration Contact: Brian Shibley, CEO [email protected] +1-214-937-9097
SOURCE Puration, Inc.
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