DALLAS, March 3, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced continuing to move forward with the previously announced acquisition of a CBD Confections operation. Earlier today PURA reported that the fairness opinion on the target CBD Confections acquisition coming from a third-party analyst is expected to be complete next week. The fairness opinion has been undertaken as one of the conditions of the agreed acquisition terms between PURA and the seller. PURA expects the acquisition of the CBD Confections operation to close soon after the completion of the fairness opinion. The CBD Infused Confections operation is currently producing CBD Infused Gummies and CBD Infused Gum. The CBD Infused Gummies market alone is anticipated to reach $6.9 Billion by 2025.
PURA recently launched a campaign to acquire CBD infused beverage, edible and topical operations and also announced closing on a $5 million investment to fund the acquisition campaign. The $5 million investment is structured as a debt facility whereby funds can be drawn as needed to fund acquisitions. The drawn funds would be secured by the acquired asset and the debt can be repaid in stock at $0.10 per share.
PURA last week 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.