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(June 12, 2018)
DALLAS, June 12, 2018 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) plans to spin-off its cannabis cultivation business into a standalone, independently traded company listed both in Canada and the US. The planned transaction includes a dividend distribution of shares in the independently traded spin-off company to the shareholders of Puration.
"We are certainly excited about President Trump's recent statements regarding the nationwide lifting of the federal ban on marijuana," said Brian Shibley, CEO of Puration. "However, we anticipate such a lifting will take some time. In the meantime, Canada is several steps ahead in legalizing recreational marijuana nationwide and in conjunction with Canadian legalization, Bay Street offers a far more optimistic valuation of marijuana stocks than Wall Street. Better valuations in turn present cannabis companies with capital cost benefits. Accordingly, we have acquired a cannabis cultivation business in Canada that is an important part of our overall cultivation strategy and we will include a Canadian listing in the cultivation spin-off."
Puration will continue to expand its cannabis infused beverage business separate from the cannabis cultivation spin-off. Last year, PURA introduced EVERx CBD Infused Sports Water as an evolution of the company's cannabis extraction business. EVERx has since become a recognized brand in sports nutrition market place. Distribution is growing. PURA has recently designed a THC infused beverage named THCSavor expected to be introduced in Canada later this year.
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.
SOURCE Puration, Inc.
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