DALLAS, Feb. 28, 2020 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today announced the Coronavirus is not impacting PURA sales or production. In light of the public market performance reportedly in reaction to Coronavirus concerns, PURA management believed it worthwhile to emphasize that the Coronavirus has had no impact on PURA.
In spite of the recent market performance reportedly in reaction to the Coronavirus, PURA yesterday 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 management plans to release more details on the CBD Infused Pet Product launch soon.
The CBD Infused Pet Products acquisition is the first in an anticipated series of acquisitions. 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. A second acquisition of a CBD Infused Confections operation is underway. 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.