DALLAS, April 2, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced initiating efforts to rebrand its recently acquired Hemp4mula CBD confections business.
PURA launched a campaign earlier this year to acquire CBD infused beverage, edible and topical operations. The acquisition campaign is backed by a $5 million investment to fund the acquisitions. The $5 million investment is structured as a debt facility whereby funds can be drawn as needed to fund acquisitions. The drawn funds are secured by the acquired asset and the debt can be repaid in stock at $0.10 per share.
PURA acquired the Hemp4mula CBD Confections business from Kali-Extracts (USOTC: KALY). The Hemp4mula CBD Confections line today sells CBD infused gummies and gum. PURA plans to expand the product line and update the brand image. The Hemp4mula gummies and gum are currently available for sale on www.USMJ.com, an eCommerce website from North American Cannabis Holdings, Inc. (USOTC: USMJ).
PURA also recently announced the acquisition of a CBD Infused Pet Products operation. The seller currently provides concierge pet services through an online portal and the CBD Infused Pet Product Line will bear the name of the portal. PURA will have access to the portal and the existing customer base in conjunction with the purchase agreement. The CBD pet products market is anticipated to reach $1.16 billion in the U.S. alone by 2022
PURA is currently working to build a pipeline of more acquisition opportunities.
For more information on Puration, visit http://www.purationinc.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.