Puration Plans To Issue Dividends In Cannabis Extraction Subsidiary With Facilities To Be Built In California And Canada
DALLAS, TX / ACCESSWIRE / January 2, 2017 / Puration, Inc. (OTC PINK: PURA) today announced plans to issue stock in a new subsidiary dedicated to cannabis extraction with extraction facilities to be built in California and Canada in conjunction with new recreational marijuana legalization laws in both locations. The company anticipates building multiple extraction facilities in more than one location in both regions and expanding to additional regions. Puration is the sole licensee to U.S. Patent No. 9,199,960, entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT." The license permits Puration to produce cannabis extracts for infusion into recreational, fitness wellness, alternative medicine and beauty products. Puration recently announced plans to launch new cannabis infused beverage lines into Canada's legal $8 billion market in addition to announcing plans to open a cannabis extraction facility into California's legal $10 billion market. Puration's extraction capacity is being structured into a new subsidiary in a first step to unlock shareholder value by delineating between the company's patented extraction business and cannabis infused beverage business. The Company plans to release this Thursday, January 4th, more details on the strategy to build an extraction subsidiary and issue stock in the subsidiary to shareholders of Puration.
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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.