PURA - Anticipates Closing $5 Million Invest at $0.10 PPS Va
DALLAS, Feb. 5, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today confirmed receiving a $5 million investment term sheet intended to fund the prospective acquisition of cannabis infused beverage, edible and topical operations. The proposed investment terms outline an up to $5 million debt facility whereby funds would be drawn as needed to fund acquisitions. The drawn funds would be secured by the acquired asset and the debt could be repaid in stock at $0.10 per share. Management today indicates that PURA anticipates closing on the investment facility next week. PURA also anticipates making its first formal acquisition offer within the next 10 days.
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.