DALLAS, July 27, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today confirmed the cannabis cultivation deal with PAO Group, Inc. (USOTC: PAOG) is expected to close tomorrow, July 28, 2020. PAOG Group is acquiring PURA's cannabis cultivation operation in exchange for PAOG common stock. The PAOG stock issued to PURA is to be issued to PURA shareholders in a dividend distribution. The target dividend ratio is for each PURA shareholder to receive one share of PAOG stock for each share of PURA held.
PAOG also intends to acquire NCM Biotech from Kali-Extracts, Inc. (KALY). NCM Biotech is focused on medical research and the development of treatments derived from its patented cannabis extraction process.
NCM Biotech has patented cannabis extraction operation which is focused on medical research and the development of treatments derived from its patented cannabis extraction process. See a recent research report on CBD extracts derived from NCM Biotech's patented extraction process: Journal of Cannabis Research.
PURA's cannabis cultivation operation is thriving, has revenue, and has recently purchased and relocated to a new property from its former leased property. Texas lawmakers have recently implemented hemp friendly farming regulations and in so doing, universities within the State of Texas have initiated hemp farming research programs. PURA's cannabis cultivation spinoff has initiated a number of joint research applications with Texas universities.
PURA had previously spun-off its cannabis cultivation operation to Nouveau (USOTC: NOUV) and is now unwinding that deal to move forward with PAOG.
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.
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SOURCE Puration, Inc.