DALLAS, April 24, 2018 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) today announced finalizing the terms with a Canadiancannabis grow operator for the acquisition of a business intended to expand an existing medical marijuana grow operation in Canada and to establish a recreational marijuana grow operation in Canada.
"We believe this strategic acquisition will achieve two substantial milestones for the company and its shareholders," said Brian Shibley, CEO of Puration. "First, the acquisition solidifies Puration's entry into the marijuana cultivation market and second, it improves Puration's potential to be valued on less speculative criteria. Last year, Puration took a step into the cannabis cultivation sector with the acquisition of a nursery operation in Texas giving the company infrastructure for a marijuana market to be legalized at an indefinite time in the future. By entering Canada with an experienced medical marijuana operator, and a market set for recreational legalization nationwide in only a few months' time, Puration has both feet now firmly in the cannabis cultivation market sector. By firmly entering the cannabis cultivation market sector, Puration is entering a sector where analysts are discussing valuations in terms of price-to-earnings ratios, and price-to-sales ratios and offering market comparable valuation recommendations. Such valuation structure can make investment decisions less speculative, and better reveal what we all working here at Puration believe to be the company's as of yet unrealized value."
Puration first entered the cannabis sector in 2015 with a patented cannabis extraction technology. The company later developed a product utilizing cannabis extraction and introduced EVERx CBD Infused Sports Water into the sports nutrition supplements market. The company realized its first sales from EVERx in 2017 and expects substantial EVERx sales growth in 2018. The company also expects to add sales from its Texas nursery operation in 2018. Puration continues to evolve in reaction to the ever-changing landscape of the North American cannabis sector. Management anticipates the pending transaction announced today beneficially diversify the company adding cultivation to its existing extraction and cannabis infused beverage business.
For more information on Puration, visit http://www.aciconglomerated.com.
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, firstname.lastname@example.org +1-800-861-1350
SOURCE Puration, Inc.
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