PURA Makes Bid for Hemp4mula CBD Confections Backed by $5 Mi
DALLAS, Feb. 12, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced making a formal proposal to Kali-Extracts (USOTC: KALY) to acquire KALY's Hemp4mula CBD Infused Confections operation. On Monday, earlier this week, PURA announced closing on a $5 million investment to fund the prospective acquisition of cannabis infused beverage, edible and topical operations. 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. Hemp4mula is the first target acquisition for PURA in an anticipated series of acquisitions.
Hemp4mula currently includes two products, Hemp4mula Gummies and Hemp4mula Gum each infused with 10mg of CBD extracted from hemp.
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.